Negotiating in a Seller's Market, Part 1

Hardly ten years ago, the typical supplier/meeting organization agreement was articulated in an informal letter. Terms were vague and legal jargon had no place in what was considered a gentleman's agreement between two parties.

Though contract clauses gradually began to make their way into hotel contracts in the years of the buyer's market, we could refuse to accept such terms or take our business elsewhere. In the past two years, as the seller's market has taken hold, those of us not

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