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HFT2750 Willming Week 2-3

by: Sarah Rinehart

HFT2750 Willming Week 2-3 HFT 2750

Marketplace > University of Florida > HFT 2750 > HFT2750 Willming Week 2 3
Sarah Rinehart
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About this Document

These notes cover class notes from chapter two as well as additional book notes.
Event Management
Cynthia Willming
Class Notes
Event, Management




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This 3 page Class Notes was uploaded by Sarah Rinehart on Thursday September 29, 2016. The Class Notes belongs to HFT 2750 at University of Florida taught by Cynthia Willming in Fall 2016. Since its upload, it has received 13 views.

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Date Created: 09/29/16
HFT2750 CH 2 key  Gov = government  Mgmt. = management  Vs = versus  Edu = education  Bc = because  Indiv = individual Who holds Gatherings/ Meetings?  Corporations: legally chartered enterprises that conduct business on behalf of their owners with the purpose of making a profit and increasing its value o Usually internal event planners and travel incentive planners  Society of Incentive Travel Executives o Public Corporation (not gov.)  Any company is considered public if they sell stock o Private Corporation o Stakeholders vs Stockholders  Stakeholders: a person with an interest or concern in something, especially a business. Anyone Affected  Stockholders: An individual, group, or organization that holds one or more shares in a company, and in whose name the share certificate is issued o Types of Gatherings Sponsored by Corporations  Stockholders Meeting: annual meeting where voting shareholders are presented w/ reports on the state of the corporation and can vote on issues  Associations o Types of Associations  Local, state, regional, national, and international o Usually have a longer lead time  An entire year to plan o Types of Gatherings for Members  Annual conventions, conferences, world congresses, workshops, seminars o 33% of annual income comes from conventions, exhibits, and meetings  Government o Usually related to training o Internal event planners Corporate Association Gov  Corporation pays for  Attendance = not  Attendance = required expenses required o does not require  Attendance = required o Extensive extensive o does not require Marketing is marketing extensive necessary  Primary Purpose: marketing  Primary Purpose: o Training  Shorter lead time o Networking  Shorter lead time o Location HFT2750 CH 2 o Usually <6 mo.  Longer lead time  Limited budget. Limited Before the  Larger budget. Greater pay. meeting will pay. o Taxes pay for take place gov services.  Generally, in hotels Receive more where exhibit space is public pressure unnecessary about  Larger budget. Greater stewardship pay. Professional Associations Supporting the MICE Industry  MPI – meeting professionals international  POMA: professional outdoor meeting association  SITE: society of incentive travel excellence  SGMP: society of government meeting professionals Entities that Help Organize Meetings  Exhibition MGMT companies  Event mgmt. companies  Meeting mgmt. companies  Political organizations  Association mgmt. companies  Edu groups  Independent meeting managers Important Criteria for selecting a hotel  LOCATION  Amenities  RATES  Meeting room tech  Free WIFI  Guest room tech  Service  Chain hotel  Attrition policy  Recreational activities  Location o Corporate meetings tend to be near airports bc they tend to be solely work-related  Corporate Social Responsibility: a corporation’s initiative to make a positive impact on the community o Association meetings tend to be near events/ areas w/ activities o Safety has become an increasingly important factor Biggest Threat to Meetings Industry  Economy  Public perception/ negative media  Perceived value of the profession coverage  Virtual meetings  Gov regulation  Airline issues  Airline issues HFT2750 CH 2  Fuel prices  Biggest threat to corporate: Economy / Perceived value of profession  Biggest threat to assoc. & indiv.: Economy  Biggest threat to gov: Economy / Gov. Regulation Biggest Challenge When planning Meetings  Assoc. & Corp. & Indiv: increasing costs  Gov: lower budget Biggest threat to career as a meeting planner  Perceived value of profession  Downsizing  Outsourcing Duration of Meetings  Duration of typical meetings is decreasing o Gov: 2 days o Assoc.: 1 day o Corp: 3 Days o Indiv.: 3 Days Activities Involved in Meetings  Most common: Team building activities  Golf is second highest for assoc., indiv., and corporate but not for gov Future Meeting Trends  Hire tech savvy staff  Selection of update and unique venues  Increased time for networking  Green meetings  Catering to food allergies o ADA  Cyber meetings – 3D hologram meetings


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