Three Big Reasons to Consider a Multiyear Agreement
Travel is booming, in-person meetings are back and it’s time to secure your event dates while they’re available. One of the best tools to make sure you don’t miss out? Multiyear agreements.
When you sign a multiyear agreement for your venues, you’re essentially nailing down the exact space you want for years in advance. It simplifies negotiations on your end, freeing you up to devote your time and energy to making your meeting more impactful.
Need a little convincing? Here are three reasons to consider booking a multiyear contract:
1) Booking multiyear agreements gives you peace of mind.
There’s the obvious sigh of relief — by booking in advance, you’ve checked a big to-do off your list for years to come. You’ve saved yourself from repeating the RFP process, endless email chains, and year-over-year negotiations with multiple venues. But, that’s just the start.
The meetings industry is in a state of compression right now, particularly in desirable, resort-style locations sought after for incentive trips and other celebratory meetings. When you’re able to announce that, say, an organization’s 2026 meeting will be held in Hawaii, you’re paving the path for attendees to mentally commit now…and maybe even bring their families.
2) Signing a multiyear contract makes for better partnerships.
Think about your neighborhood restaurant — the one that knows you like your sauce on the side, the one that knows you won’t object if the playlist turns toward classic rock. You get better service than you would if you only stopped in once, because they know your preferences.
It’s the same with multiyear agreements. You’re inviting these hotels to become a partner, not just a venue, because you’re showing an investment in them. You’ll know what standards to expect year after year, and they’ll know what standards you expect too. If, say, you bought twice as much Wi-Fi as you wound up using, your partner will be able to account for that when reviewing next year’s plan.
If you book in the exact same space every year, you’ll know your on-the-ground team right off the bat — but multiyears don’t mean you’re limited to that venue, either. Hospitality companies can offer multiyear agreements for various properties in multiple locations, even across their brand portfolios. So, you might book your regular annual meetings at Marriott Hotels locations on a geographic rotation, your special anniversary meeting at a JW Marriott, and your conventions at Gaylord Hotels—all with the same contract.
3) Going multiyear makes you look good.
Bringing your company a way to secure the best venues for years to come lets your team share in the peace of mind you get with a multiyear — and makes you look like a planning superstar who is willing to put in a little more work upfront to save everyone’s resources in the long run.