Meeting News - June 22, 2009 - (Page 3)

PCMA/Amex/Ypartnership Survey: News By Jay Boehmer jboehmer@meetingnews.com Planners See Smaller Budgets, Attendance Meeting planners this year and next are facing meetings cancellations, budget cuts and sloping attendance, according to a survey of 516 planners released this month by advertising and public relations firm Ypartnership in conjunction with the Professional Convention Management Association and American Express. According to the survey results, about 40 percent of meeting planner respondents said they plan to postpone, cancel or rebook a meeting in 2009 or 2010, largely due to the economy—with less than 10 percent “planning to postpone, cancel or rebook because of media coverage about the industry,” said Ypartnership chairman and CEO Peter Yesawich said this month. Of the respondents, 44 percent said they are planning fewer offsite meetings this year and next than they did in 2008, and about 47 percent said the number of meetings would remain flat in 2009 and 2010. Despite ongoing concerns meeting planners shared about negative rhetoric swirling in Washington and the media in recent months, “The primary force that is impacting adversely the meetings and conventions business in America today is the current economic environment,” Yesawich said. “That is clearly more so than some concerns about negative publicity in the past couple of months.” Still, Yesawich said, “The meetings that were cancelled because of the media environment and concerns about imagery and public policy issues tended to be larger meetings defined by the number of attendees. As a result, therefore, those cancellations tended to have greater financial impact on both the host hotels, resorts and destinations.” Yesawich said resorts and upper upscale and luxury properties likely Compared with 2008, do you expect the number of annual offsite meetings to stay the same, decrease or increase in 2009 and 2010? Planners Expect Little Meeting Growth Increase 9% Stay the same 47% Decrease 44% Source: Ypartnership survey of 516 meeting planners fielded in April and May will take the hardest hit from business meeting cuts and cancellations, while urban hotels and airport hotels could be the beneficiaries. The average meeting planner respondent expects to cancel or postpone the equivalent of more than continued on page 8 Meeting Post U.S. Treasury Issues Mtg. Rules For TARP Recipients The U.S. Treasury Department this month unveiled new rules governing some meeting, event, incentive and travel expenses for companies that have received Troubled Asset Relief Program funds. The new guidelines, which have entered a public commentary period before finalization, focus on executive compensation and corporate governance, and would require TARP recipients “to eliminate excessive and luxury expenditures,” as defined by the Treasury Secretary. Those could include “entertainment or events, office and facility renovations, aviation or other transportation services, and other similar items, activities or events,” the rule states. According to the new guidelines, TARP-receiving companies will have to identify such expenses, establish policies, set approval processes, require “prompt internal reporting of violations” and “mandate accountability for adherence” to such policies. Fearing the worst, some industry organizations, including the U.S. Travel Association and the National Business Travel Association, applauded the new guidelines. USTA president and CEO Roger Dow in a statement said,“We are pleased that after months of discussion with the Obama administration and our industry's full-court press on the value of meetings, events and incentives, these regulations do not do any further harm to the meetings and events marketplace.” Though the rule is not final until the mid-September end of a public commentary period, Dow said, “We do not expect these rules to change in any material way.” r —Jay Boehmer Contents No. 9 June 22, 2009 Vol. 33, s Newsmakers . . . . . . . . . . . . . . . . . . . . 4 s Meetings Spotlight . . . . . . . . . . . . . . . 5 s MeetingNews Research . . . . . . . . . . . . 6 s Association Watch . . . . . . . . . . . . . . 10 s Viewpoint . . . . . . . . . . . . . . . . . . . . . 12 s Construction Cites . . . . . . . . . . . . . .14 s Meeting People . . . . . . . . . . . . . . . . . 15 s Event Profile . . . . . . . . . . . . . . . . . . . 16 s Travel Dashboard . . . . . . . . . . . . . . . 17 s Dateline: Bermuda . . . . . . . . . . . . . . .18 s Dateline: New York . . . . . . . . . . . . . .20 s South Regional . . . . . . . . . . . . . . . . . 24 MEETING NEWS (ISSN 0145-630X, USPS No.356-010, June 22, 2009, Vol. 33, No. 9 is published monthly by Nielsen Business Media, 770 Broadway, New York, NY 10003-9595, tel. 646-654-5000. Subscriptions are offered free of charge to individuals actively engaged in planning meetings or conventions in the U.S. and Canada. The cost of a subscription to non-qualified subscribers is $79 in the U.S. and $95 in Canada (Canada Post Publications Mail Agreement No. 40031729). The cost of a foreign subscription, payable in U.S. dollars, is $195. Periodicals postage paid at New York, NY, and additional mailing offices. MeetingNews is a trademark owned exclusively by Nielsen Business Media. Copyright © 2009 by Nielsen Business Media Inc. All rights reserved. Reproduction of this magazine, in whole or in part, is prohibited unless authorized by the publisher. For address changes (please include mailing label), single copy sales ($10 per issue including shipping and handling, prepayment required), subscription information, and other customer service inquiries, write to MEETING NEWS, P.O. Box 1189, Skokie, IL 60076-8189 or call 847-763-9050. Printed in the USA. POSTMASTER: Send changes of address to MEETING NEWS, P.O. Box 1189, Skokie, IL 60076-8189. www.meetingnews.com June 22, 2009 MeetingNews 3 http://www.meetingnews.com

Table of Contents for the Digital Edition of Meeting News - June 22, 2009

Meeting News - June 22, 2009
Contents
Newsmakers
Collier County Insert
Meetings Spotlight
MeetingNews Research
Association Watch
Viewpoint
Construction Cites
Meeting People
Event Profile
Travel Dashboard
Dateline: Bermuda
Dateline: New York
South Regional
Las Vegas Insert

Meeting News - June 22, 2009