Conference & Meetings World - How is Monaco so competitive for corporate events?

We spoke to Mark Throup, project director at Principal. Global Events to dispel this myth. Rates for hosting an event in Monaco are very competitive, compared to destinations across Europe - particularly outside the summer months. Nowhere in Europe, Mark told us, will you find so many high-quality hotels within walking distance of each other. And you'd be hard-pressed to find a CVB that works so closely with organisers, to the point of offering reduced accommodation rates for larger events, centralised across hotels. Here's what Mark had to say.

What were your initial thoughts when you started planning an event in Monaco? Did anything stand out about the destination compared to others you've worked with?

The history of Monaco and the links to the F1, Speed and Glamour are themes that can be easily integrated into conference content and branding.

How was your experience working with Monaco Convention Bureau? How hands-on were they, and what kind of support did they offer that made a difference?

Rebecca Petit-Jean and the team were excellent. They sourced the hotel block for us, helped negotiate rates, offered incentives, provided us with suppliers and supported us with some wow factors during our site inspection which helped to win over our client.

What was the venue selection process like? How did Monaco's venues compare in terms of facilities, flexibility, and ease of working with the teams?

The rates for all venues and accommodation were very competitive in comparison to most European destinations in January. All the venue and hotel teams are well experienced event professionals making the entire planning process much easier. Everyone seems to know each other so you get a great team feel across the entire project.

How easy was it to work with Monaco's infrastructure overall (transport, accommodation, local suppliers etc)? How does it compare to other European destinations?

The infrastructure is similar to most major cities, for example approx. 1 hour from the airport. However, the transfer is a much better experience, our attendees (and myself) preferred to utilise the train, as it's only 30 - 40 minutes from Nice Airport, a stunning journey for under 10 euros and once you are in Monaco everything is a stunning walk.

How did attendees react to the event being in Monaco, both before and after the event? How did the location influence participation, engagement, or the overall experience?

The location was popular, in particular in early January as the weather was great. The perception was high end so it gave the feeling that the company is doing well.

Were there anyxpected advantages to hosting in Monaco that executives might not immediately think of?

The recent developments next to and including the Grimaldi Forum really shows Monaco in a new modern light which we reflected in the content of the conferences. We also had many side meetings and dinners in Monaco with guests not attending the conference but willing to travel for smaller meetings due to the location.

Monaco has a special offer for larger events with a discounted rate on accommodation. Did this factor into your planning? How does it compare to incentives in other destinations?

Discounts and other cost incentives across the programme really helped sell Monaco as a destination to our client. The upfront costs in comparison to other destinations is reasonable. Food and alcohol are fairly expensive, but there are a few bars delegates can find that are cheaper.

If another event organiser was on the fence about Monaco, what would you tell them?

I'd say all the venue and hotel teams are well experienced event professionals making the entire planning process much easier, and if you have any issues Visit Monaco Convention Bureau are there to support you from start to finish. The standard of hotels within walking distance of each other is unrivalled in Europe, and rates outside of the summer months are very competitive!

A destination like nowhere else

For Mark and his team at Principal. Global Events, good weather, a hands-on CVB, competitive rates and the feeling of prestige made Monaco a success for his delegates. The above case study proves that the destination is well within reach of many budgets. Mark's suggestion to organisers considering Monaco is simple: if you have any doubts, get in touch with Visit Monaco Convention Bureau. They know what they're doing.