5 Things the Future Holds for Meetings & Events, According to MMBC

To showcase measures being taken to support the safe return of in-person meetings and events, the Meetings Mean Business Coalition (MMBC) is enlisting corporate executives, policymakers and meetings industry leadership to engage in critical conversations in ongoing virtual discussions. The series, which premiered in July, will continue through this fall. Here are five highlights of conversations thus far:

Create A Better Virtual Event With These Lessons in Planning

Submitted by lpsavas@tsnn.com on Wed, 08/26/2020 - 09:29

A tremendously intense spring changed everything we thought we knew about planning powerful event experiences. As event organizers, we have scrambled to reimagine our in-person events to make them work on virtual platforms this upcoming summer and fall season. My team has helped many clients make this transition and here’s what we’ve learned in the process:

Facing a Historic Wave of Hotel Foreclosures, Industry Leaders Sign On to HOPE Act

With a new report showing nearly one out of every four hotel commercial mortgage-backed securities (CMBS) loans are delinquent, industry leaders continue to press Congress to enact the HOPE Act. This bipartisan piece of legislation was introduced by Representatives Van Taylor (R-Texas), Al Lawson (D-Fla.), and Andy Barr (R-Ky.) to provide assistance to small businesses operating in the commercial real estate market. 

Trade Shows Will Be Back – Here’s Why

Submitted by lpsavas@tsnn.com on Mon, 08/24/2020 - 12:17

As many activities and businesses have come to a screeching halt during the Coronavirus pandemic, we’ve started to see some businesses allowed to slowly reopen, and eventually, many will be back up and running as usual. Restaurants will get back to full capacity for guests to dine-in, clothing stores will allow customers to come and go as they please, and fitness centers will give their members full access to all of their exercise equipment. However, what do these types of businesses have in common that trade shows don’t?

Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.