Associations
An association’s single largest source of non-dues revenue.
What is the Association's Annual Meeting or Convention?
The biggest impact of meetings on a destination.
What is economic impact?
The three necessary elements of a contract.
What are Offer, Consideration and Acceptance?
The four P's of a marketing mix.
What are Product, Price, Place and Promotion?
Component of a meeting that provides attendees with credits towards certifications or degrees.
What are Continuing Education Units (CEUs)?
The typical geographic rotation for Association Meetings.
What is East Coast/West Coast?
A type of meeting that typically includes a general session, breakouts and exhibits.
What is a Convention?
A contract clause that specifies in advance the exact amount of money parties agree to pay in the event of a breach of contract.
What are liquidated damages?
Market segments that a property singles out as having the greatest potential and where marketing activities are directed.
What is a Target Market?
The rate internet data is transferred from one point to another.
What is Bandwidth?
The term for the part of a meeting that includes a combination of volunteer and team-building activities.
What is social responsibility?
A type of meeting typically held at a remote location for the purpose of teambuilding.
What is a Retreat?
The clause that allows a hotel to impose damages if the actual guestroom pickup is significantly less than the blocked rooms.
What is an Attrition Clause?
The combining, blending, integrating, and controlling of all the factors that have an influence on sales.
What is Marketing?
The measure of the average rate paid per room occupied at the property.
What is Average Daily Rate (ADR)?
Smaller cities that may be in a suburb of a larger city that offer reasonably priced accommodations.
What are Second Tier Cities?
The three main groups that plan meetings and conventions.
What are Associations, Corporations and Non-profit Organizations?
Specifies that both parties are authorized to sign a contract for a meeting.
What is the Warranty of Authority?
The name for a company that can handle all parts of an advertising or marketing campaign.
What is an Advertising Agency?
A metric used in the hospitality industry to measure hotel performance and is calculated by ADR X Occupancy.
What is Revenue per Available Room(RevPAR)?
A tour of a property to determine whether the property is suitable to host the meeting/event.
What is a Site Inspection?
Attendance is typically mandatory at these type meetings.
What are Corporate Meetings?
Clause that states what events can allow a party to cancel the contract.
What is Force Majeure?
The use of key words and phrases to ensure the content of a website is picked up as many times as possible by search engines.
What is Search Engine Optimization?
A technique used to maximize hotel revenue/profits by basing prices for guestrooms and banquet space on supply and demand.
What is Yield Management?