OK, so I would do this by using a Content Control linked to a document property. This is easiest to do by using one of the 'built-in' metadata fields by going to Insert > Quick Parts > Document Property (and choosing one, say 'Company'). This can then be copied to other locations (or inserted the same way) to get a result where editing any one of these results in the others automatically updating.
If you need this happening via vba you can copy that range to the clipboard ie "The event is to be held with the
ContentControl group at the location" and then include the contents of the clipboard in your VBA code eg
Code:
With Selection.Find
.Text = "The event is to be held with the designated group at the location"
.Replacement.Text = "^c"
.Execute Replace:=wdReplaceAll
End With