Benchmark Offers “Zero Risk” Policy to Meeting Planners
By Harvey Chipkin
Benchmark, the hospitality company, has launched a strategic recovery initiative aimed at supporting meeting planners and suppliers. In effect through March 2021, the plan is geared to mitigating the risk and uncertainty of committing to new meetings and events. It includes flexible short-term bookings, relaxed attrition and cancellation fees, and 100% credit given on re-bookings. Elements of the new policy include zero attrition or cancellation fees for any contracted room or food and beverage scheduled through March 31, 2021 until 60 days in advance of arrival; and a full one-time rebooking credit for new meetings scheduled between April 1, 2021 and Dec. 31, 2021 with a minimum cancellation notice requirement of 90 days in advance of arrival. Re-booked groups must be of equal or greater contracted revenue and be held by Dec. 31, 2021. To support independent planners, Benchmark will increase commissions on new business from 10% to 12%, with 7% distributed immediately upon booking.