by finding ways to better quantify the return
on their meetings investment and participant experience,” says Issa Jouaneh, vice
president, strategic meetings management
and planning, American Express Business Travel. “Consolidation of [spending],
in addition to greater transparency and
accountability, will be key to proving ROI,
as well as positioning companies for success as the economy begins to return.”
Proving ROI isn’t just important for
meeting planners, according to the survey.
It’s also important for local economies,
as PCMA and American Express estimate
that meeting cancellations and postpone-ments in 2009 and 2010 will result in $781
million of lost room revenue and $2.5
billion in lost total revenue for host destinations, lodging accommodations and
meeting service suppliers.
Associations and nonprofits seeking professional management are nearly twice as likely
to consider Association Management Companies (AMCs) that have earned industry
accreditation as those that haven’t, shows a
recent AMC Institute survey.
Analyzing RFP data collected over three
years, AMC Institute found that in 2005,
less than half the number of associations
indicated industry accreditation was important as the number indicating it was not. In
2008, nearly double the number of associations indicated accreditation was important
as the number indicating it was not.
“As associations and not-for-profits
become more knowledgeable about the
AMC model, it makes sense that they are
placing greater emphasis on accreditation,” says AMC Institute President Steve
Drake. “Organizations that partner with
AMCs want to be assured they are working
with an AMC that operates with the highest level of professionalism and responsibility, and consistently meets or exceeds
all industry requirements.”