Total Cost of Ownership: Understand the Hidden Costs of Conferences

• What Is the Total Cost of Ownership of a Conference?

• Travel Time Is a Real Cost

• What Do Technical Issues Cost?

• Administrative Hours That Aren't Tracked

• How Do You Compare Venues Based on TCO?

• Summary

The price of a conference room is rarely the true cost of a conference. When comparing venues, it's tempting to look at the day rate per participant and choose the cheapest option. But hidden costs can quickly outweigh the savings you thought you were making.

At Comwell Hotels, we have more than 55 years of experience planning meetings and conferences. That experience has taught us that the most expensive conferences are often the ones that look cheapest on paper.

Total Cost of Ownership (TCO) er et begreb fra indkøbsverdenen, der dækker alle omkostninger forbundet med et køb, ikke kun prisen. Overført til konferencer betyder det, at du skal medregne langt mere end lokaleprisen og mødepakken. Transporttid for deltagerne, tekniske fejl der for tidsplanen til at skride, forplejning der skal bestilles separat, overnatning på et andet hotel, og den administrative tid du bruger på at koordinere det hele tæller også med i omkostningerne.

Hver af de poster kan være, I sikkert kan leve med isoleret set. Tilsammen kan de udgøre en væsentlig del af den samlede udgift for dagen.

When 50 employees spend an extra hour travelling each way because the conference venue is in a remote location, that's 100 working hours lost. Converted into salary costs, this represents a significant expense that rarely appears in the conference budget.

Comwell has hotels in some of Denmark's most central and accessible locations, from Comwell Copenhagen Portside in Copenhagen with the Metro close by, to Comwell H.C. Andersen Odense in the heart of Denmark, and Comwell Aarhus close to the railway station and motorway. By choosing a centrally located venue, you reduce the hidden cost of travel for the entire organisation.

A projector that doesn't work, a Wi-Fi network that goes down or a sound system with echo can cost far more than an AV technician. Think of the 200 participants sitting and waiting while the problem is resolved. Think of the presentation that loses its impact because the technology doesn't work as it should.

At Comwell, we're proud to have introduced the modern meeting concept to Denmark. Our MeetingDesign concept tailors and adapts meeting and conference packages to your requirements. Our MeetingDesigners and technicians know the equipment and venues and have extensive experience in streamlining conferences of all sizes, helping ensure that every detail runs smoothly.

MeetingDesign is a free advisory service, so the cost is already covered – and it's one less risk for you to manage.

Planning a conference takes time. But how much time depends largely on how many suppliers you need to coordinate. If you book the venue in one place, accommodation elsewhere, catering from a third supplier and technology from a fourth, you multiply the administrative workload.

A venue that brings everything together under one roof saves you hours of emails, phone calls and coordination. At Comwell, your MeetingDesigner acts as a single point of contact, handling everything from room setup and technology to menus and accommodation.

When assessing conference venues, ask yourself these questions: What is the actual travel time for the majority of participants? Is all the technology included, or does some equipment need to be hired and set up separately? Is catering included in the package, or does it need to be ordered separately? Is accommodation available on site, or does it require an additional booking? How many points of contact do I need to coordinate with?

The answers will give you a far more accurate picture than the daily venue hire rate alone.

The lowest day rate rarely means the lowest overall conference cost. The Total Cost of Ownership for meetings and conferences includes participants' travel time, technical support, catering, accommodation and administrative coordination. At Comwell, we bring all these elements together under one roof, with a dedicated MeetingDesigner as your point of contact, permanently installed AV equipment and central locations across Denmark. This reduces hidden costs and gives you a more accurate budget from the outset.

Would you like a comprehensive quote that covers everything? Contact us for a no-obligation conversation.