Did you know that RFP stands for Request For Proposal? In short, this is a solicitation for Bids from travelers bookers /events planners to hotels.
- RFP can be a very powerful tool to strengthen the sales pipeline and boost the business; however you need to be prepared to master it
- We can split the RFP into 2 different types: Corporate and Groups/Events RFP
- Corporate RFPs are usually happening in Aug/Sept. This is when all corporate booking agents are submitting bids to some hotels often preselected. Make sure you have done your part of the job before: you need to have each of your current accounts analysed in depth: patterns of booking, current return, pricing expected, etc. and know what you want to offer to new accounts. Get in touch to get a checklist and more details on how to apprehend Corp RFP
- Groups/Events: some RFP technologies are here to help, such as Cvent, etc. Make sure you qualify for the right business, have some generic but well detailed and convincing responses (and right pricing)
- Key elements to evaluate when reviewing any RFP: analyse the timing, look at pricing considerations, commitments parameters, functional requirements and assess the benefit of the contract – not all requests are good for you, you may generate more revenue by not taking the bid