American Express Meetings & Events is the world’s largest global meetings provider and organizes over 97,000 meetings generating over 6 million room nights annually, and over $ 5 billion in client meetings and event spend.
In the last two years, this partnership resulted in over $ 8 million in consumed room revenue to our hotels, which represented year-over-year growth of over 43%. The American Express team generated over 3,200 RFPs to Preferred Hotels resulting in almost $ 10 million in contracted room revenue for 2019 & beyond. Their team has seen the benefit of our unique member hotel experiences around the globe, and with previous announcements from Marriott, Hilton, IHG, and Hyatt regarding commission reductions in North America, the Preferred Hotels & Resorts portfolio is in an enviable position to continue our growth through the support of our partnership.
BENEFITS & TERMS OF THE AGREEMENT
Preferred Hotels & Resorts member hotels will benefit from the agreement in the following ways:
- All American Express Meetings & Events teams worldwide will be advised of the terms of this agreement, including the commitments and benefits to the parties
- Increased visibility for member hotels on the Meetings & Events venue sourcing tool (Cvent) with Preferred Hotels & Resorts clearly distinguished as a preferred partner.
- Inclusion in the American Express Meetings & Events Hotel Guide for all Preferred Hotels & Resort Member Hotels, to include the electronic resource library for global meetings & events staff via The Meetings Source.
- Opportunity to engage with the American Express Meetings & Events team who support top Fortune 500 companies and multinational corporations. In light of our preferred supplier status, their teams are motivated to drive business to our member hotels whenever possible. To increase your engagement, contact your Preferred Hotels & Resorts GSO team to determine the best opportunity. A few highlights are indicated below.
- In North America, the majority of planners are remotely based. In these cases, contact the respective Preferred GSO to strategize on connecting with the appropriate team members sourcing for clients from your key client industries or geographic feeder markets.
- In Europe and Asia-Pacific, Preferred is afforded preferential opportunity for office visits and presentations (subject to arranging appointments in advance and where applicable) as a result of our partnership. In these regions, contact the respective Preferred GSO to determine when the next opportunity will be available and the specific nature of the meeting.
- As a preferred partner, American Express Meetings & Events team members globally are invited to our various Preferred Hotels & Resorts regional client events. Please refer to the Events Calendar and contact the respective Preferred GSO to discuss the client base targeted for the specific events of interest to you.
- Opportunity to engage with the American Express Meetings & Events team at their own coordinated Supplier Showcases as follows:
- North America - American Express INTER(action) Meetings & Events Supplier Showcase which will be held 11-13 November 2020 in Atlantic City, New Jersey, USA. Network with over 550 Planners, Buyers, and Account Managers and Leadership from North America. Member hotels participating with Preferred will receive a significantly discounted registration fee as a result of our partnership. Please visit the Preferred Hotels & Resorts Events Calendar for more information and to register.
- Europe - American Express HorizON 2020 December 12-14, 2020 in Seville, Spain. Network with up to 250 Planners, Buyers, and Account Managers and Leadership from EMEA.
- Preferred Hotels & Resorts Member Hotels will be required to pay commission to American Express Meetings & Events at the rate of 10% upon the total gross for accommodations revenue only excluding VAT at the prevailing rate.
- Member hotels who wish to increase their visibility and top of mind awareness with the 2,000 team members with American Express Meetings & Events via The Meetings Source may learn more about the options available by contacting media.team@amexgbt.com.
Please note that any existing agreement you may have with American Express Meetings & Events will not be affected by this agreement.
Should you have any questions relating to this agreement, please contact Katy Gettinger Eagen.
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