The $122 Billion Opportunity Hospitality Providers Are Missing: Unique and Branded Corporate Retreats and Events in Collaboration with Speakers

Read up hotel, events venues, or organizers in the fiercely competitive Mid-Atlantic, Delmarva, or Northeast regions. There's a massive, largely untapped opportunity staring you right in the face - and even though you see it…know it’s there…with your current products, you can’t touch it!

The Opportunity? Corporate retreats, off-sites, and meetings - a $122.8 billion market (Events Industry Council, 2022) that savvy players are capitalizing on through creative partnerships.

Let's face it, beautiful scenery and luxurious amenities are a given, but generic event packages just don't cut it anymore. You're all fighting tooth-and-nail for the same slices of business travel, weddings, conferences, and tourist dollars. Standing out, especially for independent properties or smaller chains, is a huge struggle.

This zero-sum battle becomes even more intense when targeting the lucrative corporate meetings and events segment. Why? Because in their current state, most hotels and venues are failing to offer corporations a truly unique, remarkable experience that incentivizes them to book.

Think about it: Your crusty and uncompelling pitch is some variation of "great meeting spaces" and "modern accommodations." Corporate clients crave seamless, elevated retreat offerings that deliver both unbeatable hospitality AND premium skill-building, team development, leadership training, and more.

The Statistics: Time To Get Serious About Corporate Events

The corporate retreat market, valued at a staggering $122.8 billion in the U.S. alone, presents a golden opportunity. Companies are actively seeking impactful retreats that boost morale, spark innovation, and propel teams to peak performance (GBTA, 2023). But very few properties have truly innovative solutions for the "AND more" part of that equation, causing them to struggle converting opportunities into clients. And that's a big, costly missed opportunity.

This is why, for the past several years at the hotel I own and operate, I have been developing the concept of branded retreat packages with value-added speakers. We have transformed our hotel from a venue into an experience incubator. It’s my privelege to share this idea in the spirit of helping our community discover innovative ways to generate products that match changing consumer demands.

The Problem: Bland Packages and Missed Opportunities

Think about it:

• Average event revenue for hotels in the U.S. sits around $17,000 (Meetings & Conventions Magazine, 2023).
• Corporate retreats, range from $10,000 to $100,000, with the added benefit of extended stays and potential for future bookings.
• Despite this, a mere 24% of meeting planners currently book hotel venues for corporate offsites and retreats according to Meetings Today.

So, why are so many hotels missing out? Here's the breakdown:

• Generic Packages: lead to underutilized spaces and catastrophic failure to address the specific needs of corporate groups seeking transformative experiences.
• Limited Expertise: Hospitality teams may lack the resources to design engaging retreat programs that cater to leadership development, team building, and fostering innovation – key elements missing from most standard packages.
• Missed Revenue: Unfilled event spaces and the inability to tap into the high-value corporate retreat market translates to significant lost income, especially in competitive regions like the Mid-Atlantic and Northeast.

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The Opportunity: A Win-Win Solution

This is where partnering with a well-known speaker like myself, Dr. Bryan Deptula, potentially creates unique value positioning in the corporate space. Here's how this innovative approach benefits both hotels and corporate clients:

For Hotels:

• Increased Bookings: Attract new clients seeking the added value of a professional speaker and engaging retreat program. This can translate to a significant rise in bookings and revenue, particularly in the competitive Delmarva and Northeast regions.
• Branded Experiences: Craft unique retreat packages that showcase your hotel's strengths, coupled with expert-led workshops and presentations. This allows you to differentiate yourself and create a brand identity as a retreat destination.
• Long-Term Relationships: Corporate retreats often lead to repeat business. Satisfied attendees may return for leisure stays, further boosting your bottom line.
• Reduced Risk: By collaborating with a speaker, you minimize the burden of program design and execution, allowing your team to focus on flawless hospitality.

For Corporate Clients:

• Transformative Experiences: Employees gain valuable skills and insights through workshops and presentations, fostering team building and leadership development.
• Enhanced Value Proposition: Companies get a comprehensive retreat package addressing their specific needs, maximizing the return on their investment.
• Engaged Teams: Interactive workshops and activities keep attendees engaged and motivated, leading to a more productive and successful retreat.

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The "Eureka" Moment: A Real-life Case Study in Success

My own journey with branded retreat packages began with a simple observation. As a former Destination Director and the owner of a successful hotel myself, I saw the untapped potential of the corporate retreat market. At my own Inn, I offer all-inclusive packages that incorporate overnight accommodations, venue space, transportation to beach bonfires for team building, and a conference space for workshops. Corporate guests bring their partners who shop, dine, and relax at the beach; while I develop today’s worker into tomorrow’s leaders. The client receives an unbeatable retreat combining exceptional venue amenities and destination adventures with my expertise in areas like leadership mastery, team innovation, change management, and more.

?A few years ago one of our guests was also a hotel owner who happened to show up while I was hosting one of our signature leader development retreats titled ‘Winning Conflict’. I was approached by the hotel owner/guest because her property, in the Delmarva region (let's call it the "Chesapeake Bay Retreat" to respect their anonymity), was struggling to find a value proposition in a post-pandemic market.

Partnering with the owner and her executives, my team and I designed a signature "Leadership on the Shore" retreat package. The package included:

• Luxurious waterfront accommodations at the Chesapeake Bay Retreat.
• Customized leadership workshops led by me, focusing on communication, goal setting, and conflict resolution – specifically tailored to the needs of corporate teams.
• Engaging team-building exercises designed to foster collaboration and creativity on the beautiful shores of the Chesapeake and Delaware Canal.
• Relaxation and rejuvenation activities like yoga and kayaking, perfect for unwinding after a productive day.
• Access to the hotel's world-class amenities, including pools, fitness centers, and fine dining.

The outcome? A resounding success! The Chesapeake Bay Retreat experienced a significant increase in corporate retreat bookings with this package. They exceeded revenue targets, received rave reviews from attendees, and many participants even returned for leisure stays later. This positive experience laid the foundation for a long-term partnership with the hotel, establishing them as a premier corporate retreat destination in the Delmarva and Northeast Regions.

Here's the deal. All this looks good on paper and many ‘speakers’ and ‘consultants’ claim to have expertise in running retreats…and they don’t. Find yourself a trusted and collaborative partner to build out your offerings, and make sure their content is solid by inviting the speaker/consultant to do a workshop for your own team. Any good professional speaker will love the opportunity to demonstrate the value they deliver.

If you’re smart and willing to collaborate, this type of offering can work. In my own experience, I have found it exceedingly difficult to find the right partners, but they are out there and you can find them.

Contact me for insights on how to build a Branded Retreat program for your business. Maybe I know someone who you can partner with, and maybe it’s me. Either way, consider me a resource.

Schedule time with Bryan Deptula

Bryan Deptula, PHD

Leader Development &?Consulting

Speaker & Author

BKD Leaders, LLC

Main Office 1-302-703-0060

Email:?[email protected]

See my?TEDx talk 'Leaders Are?Born To?Be Made'