The trusty greenback has Americans a little blue when they travel to Europe these days. They aren't the only ones missing the days of a stronger U.S. currency, either, as many conference venues across Europe and the United Kingdom this year are experiencing a loss of business from American-based organizations.
"The dollar is so low, and with already stretched budgets, planning a meeting in Europe is a huge challenge," says Kim Reynolds, owner of Strategic Meetings Solutions, a full-service planning firm in Dallas, TX. And with the euro expected to grow only stronger through 2008, many planners are looking at locales where the dollar holds more value.
To help entice Americans back across the pond, several hotels and conference centers in Europe are offering promotions to give planners a bit more of the proverbial bang for their buck. Ashford Castle Hotel, the 83-room former Guinness estate set on over 350 acres near Galway City, Ireland, is offering the "Hold Back the Euro" program, which will set the exchange rate for meetings on select dates starting in October at $1.40 per euro. The fixed rate includes not only lodging but also food, beverages, and activities.
"The program creates a sense of predictability for organizers as they plan events for the future," says Anita Cotter, spokesperson for Ashford Castle. "This way, they know what to expect when calculating the exact costs."
Similarly, two Concorde hotels in Paristhe Hotel Lutetia, a luxury property with 10 private meeting rooms on the famous Left Bank, and the Hotel du Louvre, a boutique hotel in the center of the cityare offering a fixed $300 per night rate for lodging, independent of the exchange rate.
But despite offerings like these, Reynolds admits she expected a greater number of promotions to continue attracting American meetings, and their absence may be because the ones that are out there are not bearing fruit. Paolo Pedrazzini, director of sales and marketing at the Rome Marriott Park Hotel, a five-star hotel outside Rome with 601 guest rooms and more than 118,000 sf of meeting space, says that special offers do not seem to balance the loss in the dollar's buying power.
"We have tried to give special rates," says Pedrazzini. "We keep getting bids, but we are not able to match the rates they can get in areas like the Asia-Pacific region, the Caribbean, or even Eastern Europe."
Certainly, Eastern European destinations are becoming more popular. The Metropolitan hotel in Sofia, Bulgaria, is actively trying to attract American meetings. Although the newly completed hotel in downtown Sofia with more than 200 guest rooms and eight private meeting rooms is not offering any special promotions, management is willing to work with organizers to help them stay within budget, says Tzveta Kamberova, events coordinator at the hotel.
Many American organizations still hope to afford venues in cities like Rome, Paris, and London. Jonathan Byrne, commercial director of the Queen Elizabeth II Conference Centre, a large venue in the Westminster area of London that can host meetings of 40 to 1,300, says that the facility is also willing to work with potential clients, but there is only so much he can do. "Unfortunately, if price is the deciding factor, I'm going to find it very hard to compete," he says.
Byrne does argue, however, that U.S. meeting planners looking at more expensive cities can benefit from working closely with a local professional organizer. "They can help you get the best value for your money on every dollar spent," he says. "They will have the connections to those local organizations that can guide you to enhanced offers and packages that can make the whole meeting experience."
Joseph Tonna, managing director of Conference Incentive Solutions, a destination management company specializing in the island of Malta, suggests that helping planners create full packages, at any budget, is beneficial.
"We work with every client," he says. "We have various packages that fit all budgets, and make sure that organizations are getting the most out of their visit to Malta."
In addition to working with a local partner, Reynolds says that planners may have more savings if they can be flexible on dates. "Consider the shoulder season or work with venues to see if shifting a day or two can allow you to take advantage of some value dates," she says.
Philippe Attia, senior vice president of operations in Europe for Dolce International, a conference center owner/operator, says that there are savings opportunities on dates in winter, around Easter, and in the middle of summer as well as in locations that are just outside of the bigger cities. Surprisingly, in just the first few months of this year, Dolce International's European locations have already booked 81 percent of the amount of American business they had last year, driven by bookings at the Dolce Bad Nauheim, a unique meeting center with 27 meeting rooms and a spa outside of Frankfurt, Germany, and the Dolce Lahulpe, a modern property with 25 meeting rooms near Brussels, Belgium.
Lacy Curtis-Ward, director and general manager of the historic Church House Conference Centre in London, says that planners are doing themselves a disservice if their only concern is price. "One needs to really consider the quality of the entire meeting and what you hope to gain from the output before deciding against a location simply based on cost."
Originally published Aug. 1, 2008For more ideas, tips, and tools for better meetings and events,
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