Members of the Manx Hospitality Partnership are going to be guided through the current financial crisis.
Chairman Theo Fleurbaay says the aim is prevent further hotel closures in the Isle of Man, whether seasonal or permanent.
He says members will be offered advice about the situation as it stands, and tips on how to cut costs.
But Mr Fleurbaay says one cost which needs to be maintained is advertising because it's vital to have a presence in the market.
He believes that joint advertising could be a viable option in the future.
MiCard users advised to take money out before the end of the year
'Nothing else could have been done' to save some small fish at Clypse Reservoir
'Come back to the table,' says DOI minister
Consultation seeks feedback on changes to IOM first time buyer schemes