Association executives, many of whom may feel burned by the steep attrition and cancellation penalties they now face from hotels, might get the last laugh. That’s because the travel industry slump has given event planners leverage to write flexible terms into future event contracts. “For the first time, you see hotels advertise no cancellation penalties,” said Lisa Hix, an associate in the nonprofit practice at law firm Venable LLP. “Everyone is responding to the times.” “World market conditions have changed. The buyer—the association, in this case—has much greater negotiation room than they had previously. A lot of hotels are trying to fill their space,” said Jed Mandel,… Read More