By Chip McIntyre. Published on 9/15/17 in Hotel Management.

If your property or hotel company is considering a new supplier, sometimes basic research isn’t enough. There are at least three critical – yet often overlooked – areas that hoteliers need to seriously consider before making a final decision and signing on the bottom line.

When utilizing requests for proposals, the responses from suppliers may seem to be on target with the hotel’s objectives – the prices seem competitive and the services will meet your needs. References are reassuring, and after conducting due diligence (negotiating with all companies presenting a proposal and conducting site visits with the suppliers being considered), everything appears to be progressing smoothly. But even the best-laid plans can meet with unforeseen problems. To proactively remove the inevitable “but” from the RFP equation, here are three key questions to ask suppliers to ensure your engagement together turns into a prosperous and mutually-beneficial long-term relationship.

1. Does My Hotel Have Most-Favored Customer Status?

Most-Favored Customer status is a featured term in many procurement contracts. It means that suppliers will not sell their goods and services within the defined marketplace at a better price than they are giving to your hotel. It sounds simple, but it’s not. Hoteliers need leverage with suppliers to receive the best pricing every day.