July 2023

Dear Guest,

Welcome to Meeting Escrow's monthly newsletter featuring articles related to our financial solutions for meetings and events: single vendor payment, foreign currency budget protection, funds management, event insurance, VAT recovery, DMO bid support and advance deposit escrow accounts.

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Is your conference child friendly?

Northstar - June 2023 - If after reading this article, you decide you would like to offer child programs at your event, we recommend Kimberlee Care. Kimberlee Thompson, President, provides high quality custom childcare solutions for Conferences, Special Events and Hotels. Kimberlee Care has successfully leveraged our escrow solution for the protection of advance deposits to suppliers.

M&IT - June 20, 2023 - "David Schwartz, a senior MD at Blackstone, said: “Cvent has long been a go-to event management partner for organisations of all kinds, enabling them to embrace technology solutions in an increasingly digital world. We’re thrilled to support its continued growth and product advancements, bringing Blackstone’s global resources to bear and leveraging the firm’s deep expertise and thematic focus on hospitality, events and real estate.”

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Hotel transactions see 18% decline in 2022 as interest rates surge

CMW - May 1, 2023 – "Hotel transactions across Europe failed to show the recovery expected during 2022 as confidence was hit due to huge increases in energy and food costs, a rise in inflation and higher interest rates."

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How will a recession affect travel and business events?

MC&Asia - May 2, 2023 - "Inflation. Rising interest rates. Layoffs. Where is the economy headed? And how will it impact travel? Christian Savelli, director of cruise analytics for Tourism Economics, answered those questions during a breakout session at the IACC Americas Knowledge Exchange, held 3-5 April at the JB Duke Hotel in Durham, N.C."

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How can event planners mitigate against strikes

M&IT - May 5, 2023 - "With the events and hospitality industries still feeling raw after the last two years and with another set of strikes on the way, venues, suppliers, and organisers clearly need to be flexible.

Historically, the British are good at keeping calm and carrying on, but recently panic has taken a grip and positive attitudes have fallen away to the detriment of many businesses. We need to get back to keeping calm and carrying on."

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Money matters

M&IT - June 2023 - "Every insurer has changed their event cancellation, event liability, professional indemnity, and cyber insurance policy cover since 2020.

Therefore, it is crucial to seek advice, understand the policy wording and not take it for granted that any policy will do.

There are extra exclusions and conditions, so it's important to have an expert to help you stay updated on the latest changes as some of these exclusions can be “bought back”.