Eli Lilly joins the preferred crowd

As CMI pointed out recently, the trend toward companies using preferred vendors is alive and well. To prove the point, pharmaceutical giant Eli Lilly has officially joined the preferred hotels crowd. According to the BTN article: "Major pharmaceutical firm Eli Lilly & Co. during the past 18 months developed, negotiated and implemented a preferred meetings hotel program and mandated its use by internal meeting sponsors. Almost all of the firm's nearly 1,000 domestic meetings now use one of four preferred chains, allowing the company to negotiate standard contracts with favorable rate, service levels and conditions."

While it's probably a boon to the big chains and a money-saver for companies, I can't help but wonder what this does to the smaller boutique hotels, conference centers, and others who might not be able to win a bid?

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