The purpose of a housing requirement is two-fold. The first purpose is to protect our customers. Having a housing requirement allows our housing partners the ability to negotiate the lowest rates, and hold those rates firm for our customers, preventing supply and demand from influencing rate changes from the time the venues are contracted until the event occurs. These negotiations also include getting the best amenities and team-friendly cancellation policies with premier hotel properties near the venue.
Secondly, the ability to secure the best space for an event in the ideal time frame is directly tied to the event producer’s ability to deliver and track hotel room nights. Cities build convention centers and venues of all sizes to bring in business. Cities measure an event’s impact on their economy based on hotel room usage. If an event can prove their positive economic impact on the city by accounting for all their participants utilizing their hotels, then the city will in turn help the event to secure the best possible dates and rates for the future. This is true for large, city-wide events, as well as smaller events in smaller cities.