20% of the hotel rooms sold in 12 hours
- Thread starter derg
- Start date
HRDiva
Well-Known Member
Thank you for organizing this! I have some silly questions @Kristie or @Derg.
So if you sell out the rooms, is there still a registration price differential after that? Or will the registration default to a flat rate?
And, if we buy a ticket now (without knowing his schedule other than he is on vacation through 10/11 for our Barcelona foodie adventure) and he can't get the days off, can we sell or donate the ticket if there is a waiting list?
Thanks!
So if you sell out the rooms, is there still a registration price differential after that? Or will the registration default to a flat rate?
And, if we buy a ticket now (without knowing his schedule other than he is on vacation through 10/11 for our Barcelona foodie adventure) and he can't get the days off, can we sell or donate the ticket if there is a waiting list?
Thanks!
Last edited:
Autothrust Blue
"Well, on the Brasilia..."
@HRDiva
The following is far, far too much information and not directed at you, but I think many people who just see the steak-on-the-plate and not the birth of the calf, the raising at the farm, the eventual slaughter, the butchering, the shipping, the marketing, the packaging and the grilling of the steak may benefit.
The unsold rooms are released from our "convention block" back to the hotel on September 21st, however I have to take an honest look at 60 days prior to the first arrival in the block (mid August) to look at if I need to invoke my 20% attrition clause to release hotel rooms, or keep enough on-hand to sell under our block. Any rooms unsold after September 21st, even after a notifying convention sales that "Eek! They're not selling, we need (up to) 20% less" I pay for out-of-pocket. Plus $10,000 for the "London Club" because our group didn't meet minimums.
So if we have to move 215 room nights, reduce to 172 because of our 20% attrition clause, but then only sell 150. That's 22 rooms at $99 plus $10,000 for the event space because we didn't meet our booking minimums.
Reserve enough rooms, the event space is covered. The catering minimums, are an entirely different story. Aye yi yi. Four hours of open bar (remember, it's Las Vegas, on the strip), bartender costs, labor charges (that's a new one!
) food costs, sales taxes, tips, service charges all to bring the event to a level which people expect from our events isn't an inexpensive endeavor.
Jetcareers does not have deep pockets (we're still paying down 2010) and pilots love incentives including risk mitigation — which is why we crafted pricing and options to incentivize committing to the event. If you commit early, you're given a certain financial benefit. Committing late or last minute raises our financial risk almost exponentially so there's a higher cost structure to reflect that.
Basically, the people that are booking in the month of July have shown a commitment to NetworkJC, are helping tremendously in assisting us planning and scaling the event and they're enjoying a price structure somewhat below cost. The people that will book after August will be "cost-plus" to subsidize the people who committed early. The people in the last month prior to the event bear a substantially higher risk to the budget so the pricing model reflects that.
That's probably far more than you wanted to hear, but I think it's good that people know what goes into it.
If anyone wants to see the books on NetworkJC and how I'm not bullcrapping when I say, "my goal is only to break even", all they have to do is buy me a glass of wine and I'll boot up Quickbooks and bring my tax forms. Right now, the "break even point" is 215 room-nights (30% sold so far) and 150 tickets sold (20% sold so far) at an average of $86.33 per ticket so you can see why I'm hitting the hotels hard ($99 x each unsold = $$$) first, taking a loss on the ticket sales initially ($13-ish loss per ticket sold to move the rooms).
The disincentive side of the puzzle is someone staying down the street to save $10/night (while incurring $40 in cab fare) so it's priced to drive people take a real good look at staying under the hotel block because the money an attendee saves by staying off block has a high probability of me paying for their hotel room anyway if we don't meet the minimums.
So basically, if you can commit early, you're really doing our planning a huge "solid" and I'm taking a loss on each ticket sale to incentivize you to do so and to show gratitude in making that decision. Again, if anyone thinks I'm BS'ing, buy me a beer and I'll show you the contract with Caesars Entertainment Group, Quickbooks and my Excel spreadsheet.
(Actually it's "Numbers" — I'm a Mac)
The following is far, far too much information and not directed at you, but I think many people who just see the steak-on-the-plate and not the birth of the calf, the raising at the farm, the eventual slaughter, the butchering, the shipping, the marketing, the packaging and the grilling of the steak may benefit.
The unsold rooms are released from our "convention block" back to the hotel on September 21st, however I have to take an honest look at 60 days prior to the first arrival in the block (mid August) to look at if I need to invoke my 20% attrition clause to release hotel rooms, or keep enough on-hand to sell under our block. Any rooms unsold after September 21st, even after a notifying convention sales that "Eek! They're not selling, we need (up to) 20% less" I pay for out-of-pocket. Plus $10,000 for the "London Club" because our group didn't meet minimums.
So if we have to move 215 room nights, reduce to 172 because of our 20% attrition clause, but then only sell 150. That's 22 rooms at $99 plus $10,000 for the event space because we didn't meet our booking minimums.
Reserve enough rooms, the event space is covered. The catering minimums, are an entirely different story. Aye yi yi. Four hours of open bar (remember, it's Las Vegas, on the strip), bartender costs, labor charges (that's a new one!
) food costs, sales taxes, tips, service charges all to bring the event to a level which people expect from our events isn't an inexpensive endeavor.Jetcareers does not have deep pockets (we're still paying down 2010) and pilots love incentives including risk mitigation — which is why we crafted pricing and options to incentivize committing to the event. If you commit early, you're given a certain financial benefit. Committing late or last minute raises our financial risk almost exponentially so there's a higher cost structure to reflect that.
Basically, the people that are booking in the month of July have shown a commitment to NetworkJC, are helping tremendously in assisting us planning and scaling the event and they're enjoying a price structure somewhat below cost. The people that will book after August will be "cost-plus" to subsidize the people who committed early. The people in the last month prior to the event bear a substantially higher risk to the budget so the pricing model reflects that.
That's probably far more than you wanted to hear, but I think it's good that people know what goes into it.
If anyone wants to see the books on NetworkJC and how I'm not bullcrapping when I say, "my goal is only to break even", all they have to do is buy me a glass of wine and I'll boot up Quickbooks and bring my tax forms. Right now, the "break even point" is 215 room-nights (30% sold so far) and 150 tickets sold (20% sold so far) at an average of $86.33 per ticket so you can see why I'm hitting the hotels hard ($99 x each unsold = $$$) first, taking a loss on the ticket sales initially ($13-ish loss per ticket sold to move the rooms).
The disincentive side of the puzzle is someone staying down the street to save $10/night (while incurring $40 in cab fare) so it's priced to drive people take a real good look at staying under the hotel block because the money an attendee saves by staying off block has a high probability of me paying for their hotel room anyway if we don't meet the minimums.
So basically, if you can commit early, you're really doing our planning a huge "solid" and I'm taking a loss on each ticket sale to incentivize you to do so and to show gratitude in making that decision. Again, if anyone thinks I'm BS'ing, buy me a beer and I'll show you the contract with Caesars Entertainment Group, Quickbooks and my Excel spreadsheet.
(Actually it's "Numbers" — I'm a Mac)
Last edited:
desertdog71
Girthy Member
@Derg In another life I was a meeting planner for an agency in Scottsdale. In the days before internet which killed travel agencies. So I know exactly what a royal PITA it can be, and I never had my own dollars on the line. Furthermore, I don't think you need to justify anything. You're taking all the risk.
Once the hotel rooms go away, they're gone and the "(w/hotel)" rates will cease.
As of July 12th at 1000, we're at 30.7% reserved. I'd say 30% or 31% to keep it round, but it would upset the good sensibilities of @JEP.
View attachment 28322
Who's the ass that only reserved .7 of a room?
I love you man. Seriously. Vegas strip hotels get business where there'll be something like "Bossier City Bookkeepers Association" that will drop six figures without batting an eye. So when I say, "Well, I'd like an RFP for maaaaaaybe 150 people" "What industry?" "Oh, we're airline professionals", the phone can't hang up fast enough because they know our demographic will spend $100 to save $5.
@HRDiva
The following is far, far too much information and not directed at you, but I think many people who just see the steak-on-the-plate and not the birth of the calf, the raising at the farm, the eventual slaughter, the butchering, the shipping, the marketing, the packaging and the grilling of the steak may benefit.
The unsold rooms are released from our "convention block" back to the hotel on September 21st, however I have to take an honest look at 60 days prior to the first arrival in the block (mid August) to look at if I need to invoke my 20% attrition clause to release hotel rooms, or keep enough on-hand to sell under our block. Any rooms unsold after September 21st, even after a notifying convention sales that "Eek! They're not selling, we need (up to) 20% less" I pay for out-of-pocket. Plus $10,000 for the "London Club" because our group didn't meet minimums.
So if we have to move 215 room nights, reduce to 172 because of our 20% attrition clause, but then only sell 150. That's 22 rooms at $99 plus $10,000 for the event space because we didn't meet our booking minimums.
Reserve enough rooms, the event space is covered. The catering minimums, are an entirely different story. Aye yi yi. Four hours of open bar (remember, it's Las Vegas, on the strip), bartender costs, labor charges (that's a new one!
Jetcareers does not have deep pockets (we're still paying down 2010) and pilots love incentives including risk mitigation — which is why we crafted pricing and options to incentivize committing to the event. If you commit early, you're given a certain financial benefit. Committing late or last minute raises our financial risk almost exponentially so there's a higher cost structure to reflect that.
Basically, the people that are booking in the month of July have shown a commitment to NetworkJC, are helping tremendously in assisting us planning and scaling the event and they're enjoying a price structure somewhat below cost. The people that will book after August will be "cost-plus" to subsidize the people who committed early. The people in the last month prior to the event bear a substantially higher risk to the budget so the pricing model reflects that.
That's probably far more than you wanted to hear, but I think it's good that people know what goes into it.
If anyone wants to see the books on NetworkJC and how I'm not bullcrapping when I say, "my goal is only to break even", all they have to do is buy me a glass of wine and I'll boot up Quickbooks and bring my tax forms. Right now, the "break even point" is 215 room-nights (30% sold so far) and 150 tickets sold (20% sold so far) at an average of $86.33 per ticket so you can see why I'm hitting the hotels hard ($99 x each unsold = $$$) first, taking a loss on the ticket sales initially ($13-ish loss per ticket sold to move the rooms).
The disincentive side of the puzzle is someone staying down the street to save $10/night (while incurring $40 in cab fare) so it's priced to drive people take a real good look at staying under the hotel block because the money an attendee saves by staying off block has a high probability of me paying for their hotel room anyway if we don't meet the minimums.
So basically, if you can commit early, you're really doing our planning a huge "solid" and I'm taking a loss on each ticket sale to incentivize you to do so and to show gratitude in making that decision. Again, if anyone thinks I'm BS'ing, buy me a beer and I'll show you the contract with Caesars Entertainment Group, Quickbooks and my Excel spreadsheet.
(Actually it's "Numbers" — I'm a Mac)
z987k
Well-Known Member
Honestly given the risk you're incurring for this, you should sell it as a package deal only. Ticket plus hotel until all of the rooms are gone.@HRDiva
The following is far, far too much information and not directed at you, but I think many people who just see the steak-on-the-plate and not the birth of the calf, the raising at the farm, the eventual slaughter, the butchering, the shipping, the marketing, the packaging and the grilling of the steak may benefit.
The unsold rooms are released from our "convention block" back to the hotel on September 21st, however I have to take an honest look at 60 days prior to the first arrival in the block (mid August) to look at if I need to invoke my 20% attrition clause to release hotel rooms, or keep enough on-hand to sell under our block. Any rooms unsold after September 21st, even after a notifying convention sales that "Eek! They're not selling, we need (up to) 20% less" I pay for out-of-pocket. Plus $10,000 for the "London Club" because our group didn't meet minimums.
So if we have to move 215 room nights, reduce to 172 because of our 20% attrition clause, but then only sell 150. That's 22 rooms at $99 plus $10,000 for the event space because we didn't meet our booking minimums.
Reserve enough rooms, the event space is covered. The catering minimums, are an entirely different story. Aye yi yi. Four hours of open bar (remember, it's Las Vegas, on the strip), bartender costs, labor charges (that's a new one!
Jetcareers does not have deep pockets (we're still paying down 2010) and pilots love incentives including risk mitigation — which is why we crafted pricing and options to incentivize committing to the event. If you commit early, you're given a certain financial benefit. Committing late or last minute raises our financial risk almost exponentially so there's a higher cost structure to reflect that.
Basically, the people that are booking in the month of July have shown a commitment to NetworkJC, are helping tremendously in assisting us planning and scaling the event and they're enjoying a price structure somewhat below cost. The people that will book after August will be "cost-plus" to subsidize the people who committed early. The people in the last month prior to the event bear a substantially higher risk to the budget so the pricing model reflects that.
That's probably far more than you wanted to hear, but I think it's good that people know what goes into it.
If anyone wants to see the books on NetworkJC and how I'm not bullcrapping when I say, "my goal is only to break even", all they have to do is buy me a glass of wine and I'll boot up Quickbooks and bring my tax forms. Right now, the "break even point" is 215 room-nights (30% sold so far) and 150 tickets sold (20% sold so far) at an average of $86.33 per ticket so you can see why I'm hitting the hotels hard ($99 x each unsold = $$$) first, taking a loss on the ticket sales initially ($13-ish loss per ticket sold to move the rooms).
The disincentive side of the puzzle is someone staying down the street to save $10/night (while incurring $40 in cab fare) so it's priced to drive people take a real good look at staying under the hotel block because the money an attendee saves by staying off block has a high probability of me paying for their hotel room anyway if we don't meet the minimums.
So basically, if you can commit early, you're really doing our planning a huge "solid" and I'm taking a loss on each ticket sale to incentivize you to do so and to show gratitude in making that decision. Again, if anyone thinks I'm BS'ing, buy me a beer and I'll show you the contract with Caesars Entertainment Group, Quickbooks and my Excel spreadsheet.
(Actually it's "Numbers" — I'm a Mac)
SpiceWeasel
Tre Kronor
Jimflyfast
lurker first class
you spent too long flying the maddog with JIBC
Jimflyfast
lurker first class
Or about one 4 day greenslip as a skipper now.
The automation packages that the hotel lets you use may make this a distinct possibility for 2015.
Why would we need to buy you a glass of wine at an open bar event?
Because I'm not going to bring my laptop to the event, Broseph!
And if you want to talk about the event's financial perspectives, there has to be a tangible incentive to do so.