What It Means:
Hotel Buyouts are growing in popularity especially in the U.S. A buyout means you have complete control of the entire hotel and no guests outside your group can access hotel amenities. This allows for a private party feel and extensive company branding during your entire trip. You can also do a partial buyout which can be one wing of a hotel or a certain building on the property.
Budgeting:
When planning an incentive program the first step is setting a budget for the trip.
Many companies who are new to incentive travel struggle with what is the right amount to invest in their incentive program each year or each quarter. Currently the average incentive travel trip for US companies costs $4,000 per employee attending. The lowest possible budget to run a successful incentive trip is $2,000 per employee and some of the most luxurious trips can cost up to $8,000 per employee. Most programs run between 3-5 nights and almost all require a majority of the attendees to fly to the trip destination.