MIT Reports to the President 1997-98

ENDICOTT HOUSE

This year's increased business and positive financial results demonstrate the response to recent facility renovations, marketing strategies, and organizational changes. Business volume increased dramatically to a level double that of two years ago and financially, the House closed the year projecting a small positive cash flow.

This turnaround is partially due to a 28 percent increase in MIT-related business throughout the year. A total of 81 overnight conferences, 20 of which were MIT-related, were held at the house during the year. This figure represents a 25 percent growth in total overnight conferences between this year and last year. Day conferences increased 25 percent over last year to 197, 34 of which were MIT groups. Total function bookings increased to 83, up 28 percent from last year. Guest nights also increased by 20 percent to 6,428 this year versus 5,099 last year. We are pleased to report that the total annual occupancy rate for the year was 48 percent, a 27 percent increase over the previous year.

Many of the above increases were achieved through the cooperative efforts of Conference Center Consulting Group, whose sales expertise and marketing strategies positioned the Endicott House as a high quality conference facility. During the year, a number of sales and marketing activities were conducted, including a large client function, direct mail campaigns, print advertising efforts and direct sales calls, an exhibit at the Boston Flower Show, and a presentation to the MIT Conference Planners Group.

In an effort to maintain the beauty and quality of the facility, over $350,000 was spent over the year in renovations and purchases. Although the majority of these expenses were related to bringing meeting areas and sleeping rooms to a higher standard, other expenses included computer equipment and related software, kitchen and service equipment, meeting furniture, general equipment and supplies, and state-of-the-art audio visual equipment.

Several organizational changes during the year focused on improving customer services and increasing quality. With all available positions now filled, the department is undertaking a major training effort to ensure continued customer satisfaction.

In order to maintain the great progress that has been made, the department expects to continue to increase business through targeted marketing programs and to particularly develop stronger relationships with customers within the MIT community. As a result of the training effort, we expect to increase the level of service offered to guests and will continue to reinvest in the facility through capital improvements and renovations.

Michael R. Fitzgerald

MIT Reports to the President 1997-98