Event contracting in the post-COVID-19 era
Special spaces for events.
At San Miguel Tarraco Arena, we are expectant to know the main changes to be faced by venues that, like us, host corporate events and large shows. During these last months of pandemic, there have been drops of 80% and 90% in event requests in the general area. A frankly devastating figure for us professionals in this industry.
We know that we will have to live with some changes for a long time: PPE, safety distances, capacity limitations, constant cleaning of common areas before and during the event, etc.
Another uncertainty is how event contracting will change once we return to the new normal.
The spaces are part of a Briefing and normally we do not know the total content of the needs we have to cover. Within the large database that agencies have, we have to enter within their search and management parameters. And with this we must comply with quality standards that, apart from the final client, the agencies will also demand.
Event buyers have a great knowledge of the sector, they analyze the data and look for the most suitable venue according to the client's needs.
To facilitate the task, it is advisable to achieve a long-term relationship between space and agency in order to meet the conditions described by the end client in a more effective way.
Also the relationship between the buyer, space and the final client has to be very close, since each event is different and there are different changes that appear in the process and that we have to face together. From now on we will be part (even more) of the same team as we are facing a complex market with very demanding customers.
We have to train our teams so that they are familiar with all the adaptations we will make to the site. We must also carefully analyze the different products offered to meet quality standards and a certificate of sustainability.
One of the most significant changes will be the flexibility required between the two parties. We are entering an uncertain era and any financial component or contractual commitment will have to be reviewed in detail with full assurance. There is already talk of the Covid clause and cancellation insurance with a 3-sided cost. What is already certain will not disappear from our contracts is the force majeure cancellation clause.
Price adaptation will also be very important. The tendency will be to adjust the general costs to invest in security and disinfection of the venue and guests. It is clear that the price adjustment cannot be passed on to the end customer and will have to be a value assumed by all parties involved in the project.
We also see in the very near future that large companies will begin to work in a different way, more focused on people and putting all the necessary measures to remove the widespread fear.
Events will also be of higher quality, with a focus on paying special attention to all attendees. Events will continue to be face-to-face, but with greater sustainability and connectivity.
We still do not know how the sector will be regulated and we cannot foresee what will happen in the coming months. At present, we are already requesting rooms of more than 1,000 m2 to host events for 300 people. In venues such as San Miguel Tarraco Arena we have already taken a step forward by proposing innovative solutions and formats for safe events. The 360º format and the immersive circle are two clear examples that it is possible to continue organizing face-to-face events in the Post Covid era.
