In negotiation, whoever has the most time wins

hospitality sales calendar

Hotel sales negotiations vary based on the time left to the decision point.

In negotiations in a hotel sales situations, — and virtually all negotiations for that matter — whoever has the most time before they make a decision will be the winner. That assumes that all other things are equal. As a result, that’s why we should always say “When are you looking to make a decision?”

negotiation

You should ALWAYS be asking that question!

If the response from your client is “’I’ve got to make it by today!” you obviously have the superior position in the negotiations. If the answer is “Well, our site selection committee doesn’t actually meet for 5 months, and they’ll probably make a decision a month or so after that.” then you probably don’t have much leverage regarding the decision making time frame.

In a hotel sales situation, there’s not much you can do to speed up the decision process, right?

Or  maybe there is… I’d like to challenge you to think about that and share some of the suggestions you might have for making the process go more quickly. So please feel free to click the “Read full article” link at the bottom of this blog post, and please share your insights on this topic in the comments section?

But even if you can’t do anything to speed things up, you do want to track the entire decision making process as it progresses. These decision timelines often go off track and time could quickly materialize as a factor once again. So if you are part of a long-range hotel sales cycle, be sure to contact the client at appropriate intervals to track how the process is proceeding.  And of course, the closer you get to the end of the decision cycle, your timely responsiveness can give you an edge not only in negotiating with the client for more favorable terms, but also to outshine your competition for the piece of business.

Being able to outshine your competition is an important factor that I have written about often, such as where I wrote about “Hotel sales people have to distinguish their hotel from the competition.” Check it out.

 

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