Cancellation Fees, Smaller Meetings, and Shorter Lead-Time

David M. Brudney | July 11, 2016

By David M. Brudney, Principal, David Brudney & Associates I'm not qualified to write about industry trends, but I can write about trends that I have observed at one of my client's properties, a very upscale resort located at a great destination, that has done as much as 70 percent group business. This year the resort is experiencing a huge increase in larger group cancellations, cancellation fees, smaller group meeting demand, and shorter lead-time bookings. Half way through 2016 the resort has already surpassed the total amount of cancellation fees captured in 2015. Why such a significant increase in cancellation fees? Corporate...