Has hospitality gone bad?

The past year has been a rough road for corporate America – the ‘no kidding’ statement of the month.  One item that has drawn a large amount of criticism from media as well as congressional committee’s is the line item of hospitality.  Whether it was suites at sporting events, elaborate parties or high end gifts those covering the economy used these activities as evidence of misused corporate dollars.  It made for great headlines, but is hospitality nothing more than a boondoggle?

Of course not.

Though there have been many documented cases about the misuse of hospitality elements, the gross majority in the corporate community still use hospitality efficiently.  Having an opportunity to spend valuable time with a valuable customer is still an effective tactic for growing business – and this activity does not have to be elaborate and expensive.

The key to good hospitality is perceived value; it is essential that the individual you want to entertain would see the event or activity as something he or she would enjoy and may not be able to do on their own.  Whether it be the opportunity to hear a lecture series or experience a pregame walkthrough there are many ways to provide valuable hospitality to a key client without the slightest bit of perceived inappropriate spending.