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What are some great hotel contract negotiation tips?

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Question added by dana tutunji , Architect , Helou Trading Co
Date Posted: 2013/06/25
Khaled Aboul-Azm
by Khaled Aboul-Azm , Director of Hospitality & Property Management , New Plan Development

Doing your homework before the actual meeting. The establishing you are going to negotiate with should be researched first to gather as much info you can possibly get (that may include insider info), your aim is to find out where this establishment is standing in terms of market position, rates/prices, weaknesses, advantages etc. You are aiming to walk into that negotiiation room (or phone call) armed with all necessary info and therefore not taken at a sudden with unexpected result niether making an offer that is in no way realistic or can be taken seriously. You must also use the info to establish a ceiling to your results, mistakes are often made when you think you've made a good deal that shortly after it doesnt seem to be so. Win-Win is a good stragety in most cases so keep that in mind.

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