Introduction:
In a recent HopSkip webinar, industry experts Sean Whalin (Co-founder and CEO of HopSkip), Barbara Dunn (Partner at Barnes & Thornburg LLP representing groups), and Lisa Sommer Devlin (Devlin Law Firm, P.C. representing hotels) discussed the challenging issue of high hotel deposits for event bookings.
Barbara shared: hotels are now demanding heftier and more frequent deposits, even from those with sterling credit. “Leverage is everything,” she advised, hinting that savvy negotiators could reduce subsequent deposit demands after the initial payout.
But Lisa Sommer Devlin painted a stark picture of the hotels’ perspective, revealing a deep-seated fear of unpaid bills that has only intensified in recent years. Her advice? A solid payment history and glowing recommendations could tip the scales in your favor.
As the conversation heated up, both experts dismissed the idea of escrow arrangements as a costly and impractical solution, underscoring the delicate dance of negotiation needed to balance trust and security in these high-stakes dealings.