Groups can make or break your hotel. When you are slow and need revenue, groups can save you from financial downturns, because they can book sleeping rooms, convention space, and food/beverage. This can help a lot. It is a lot of work because generally you need to staff higher when a big group is in-house. Big companies love to come to hotels for conventions, meeting, and conferences because they feel like they have the house to themselves. The like views, space, comfort, facilities, most important, the service. They will pay extra to have these things because they have the money.
This great to establish a good relationship with the client because if all goes good they will want to come back. So, give it a great effort and try to impress them, pull out all the stops. If they know the hotel does a great job with service and product, they will come back, which means more business for hotel. If they have hosted bar service, they will spend a lot on non-alcoholic and alcoholic beverages. More than likely they will have breakfast, lunch, and dinner at the hotel so they do not have to go anywhere. Also, meetings throughout the day they like to have refreshments, teas, coffee, water, soda, cookies, cakes, etc. This is more money for hotel.
When they book sleeping rooms, they will use internet maybe order room service, or order a movie. More revenue. They will valet cars or self park, which you could use to get money also, if they park, you can charge them. They will tip employees well, bellman, valet, food/beverage attendants, which will make the staff very happy.
The only tough part is you will be extremely hectic. Some guests may give some challenges with tough requests or not happy for different reasons. This can be worked out. As long as you are well staffed, you can get through it just fine. Don’t worry about extra overhead for more staff, the extra group business revenue will help.