Video · Leadership Offsites · Event Planning · ROI & Measurement
Flights: The Most Volatile Line in Your Budget
For an offsite of 200 people flying in from several cities, airfare moves more than any other cost. Build in contingency, book early and talk about volatility with stakeholders from day one.
Key Takeaways
- Airfare cannot be negotiated like a venue or caterer
- Hold a flight contingency in the budget
- Book early and set expectations up front
Transcript
Let's talk about flights. When you're organizing an off-site for over 200 people coming from multiple locations, you think it's straightforward. Here is the reality. The airfare is the most volatile line item in your entire event budget. Fuel prices shift, geopolitical events happen, conflicts, disruption, change in demand, and you have to be ready to embrace those changes. You might cut a client one price today and in three weeks you'll have a totally different price. Unlike a venue or a catering company, you cannot negotiate with airlines. The price is the price. So here is what I've learned throughout my experience. You have to have contingency for flights in your budget. You need to book as soon as possible your flights and also talk about volatility with your client up front. Make sure you manage expectations up front. Now I want to ask you a question. How do you manage flight volatility when you are booking your next off-site?