The meetings and conventions industry generates more
than 36% of the hotel industry’s estimated $109.3 billion in operating revenue
(Power, 2005). The largest share of the convention and exhibition
dollar (35%) is spent in hotels and other facilities. Even though the two industries
have their own markets to address, they coexist in a symbiotic
relationship–both at micro and macro levels. With so much fiscal presence,
in the long-drawn out process of organizing such events, disputes
are likely to occur and typically arise on matters such as settlement of accounts,
contractual obligations, and so forth. Some disputes can be expensive
enough to undermine the profitability of the business relationship(s).
This article provides a brief overview of the convention and exhibition
industry, attempts to identify potential areas for such disputes and offers
possible solutions