RFP Season for Hotels
It’s that time of year again – RFP season for hotels. This is when companies send out requests for proposals to secure business for the upcoming year. It’s a crucial period to lock in negotiated rates and to make sure your hotel is included in a company’s hotel program.
What is an RFP?
A hotel RFP (Request for Proposal) is a document that a company or organization sends to hotels to gather information about their services, pricing, and availability for an event, group stay or negotiated rate for a specific time period. The RFP typically includes details like:
- Hotel information
- Hotel amenities and services
- Standard rates
- Negotiated rates
Hotels respond with proposals outlining how they can meet the requirements, along with pricing and terms. This helps the organization compare options and choose the best fit for their needs.
RFP Platforms
When managing hotel RFPs (Request for Proposals), using the right platforms can streamline the process and ensure you get the best deals. Cvent is a popular option for cloud-based technology.
Cvent is a comprehensive event management platform that offers tools for sourcing venues, managing RFPs, and tracking responses. It’s widely used in the hospitality industry.
RFP Responses
Most RFP platforms let you create templates and pull profile information, making it easier to answer common questions.
Filling in details and submitting your bid is just the start. Here’s what you need to do:
- Gather information to help make this a smooth process.
- Include your hotel details like address, phone number, sales contact, property photos, distance from the airport, transportation options, meeting spaces, guest rooms, amenities, and more.
- Include all requested information.
- You can offer extra options to make your proposal more enticing.
- Add additional detail under “Comments” that help sell your hotel.
- A client may add custom question fields. Give this area special consideration because they may be dealbreakers for the client.
- Load rates as soon as possible upon acceptance to prevent booking gaps for accounts.
- Ensure RFPs are completed within the timelines provided by the agency.
Key Points to Remember
- Deadline: Make sure to submit your proposals on time. Missing a deadline can mean losing out on significant business.
- Customization: Tailor each proposal to the specific needs of the hotel. Highlight how your services can meet their unique requirements.
- Competitive Pricing: Offer competitive rates but ensure they are sustainable for your business and based on the forecasted production per the company.
- Follow-Up: After submitting the proposal, follow up to show your interest and answer any questions they might have.
If your RFP is successful and approved, the client will send you rate loading instructions. Typically, contracts are finalized prior to the end of the year to avoid issues and keep the booking process smooth.