Co-working and event space provider Convene will standardize its global commission percentage for third-party agencies at 10 percent across its portfolio, effective for all meetings that take place after July 1, the company announced Monday.
The uniform 10 percent commission rate will be enacted across Convene’s 39 U.S. and U.K. properties, the company said in a statement, including Etc.venues, which Convene acquired in February.
The 10 percent commission is “in line with the U.K. market,” and a standardized policy for the company, a representative told BTN.
The previous commission model was not standardized and “differed by location, with many at below 10 percent,” a company spokesperson told BTN by email. The new rate does not represent a commission reduction at any property.
Other meetings commission changes in recent years include Marriott International’s 2018 move to reduce commissions from 10 percent to 7 percent on its properties in the U.S. and Canada.
[email protected] (Angelique Platas)
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