Event Planning Stats
Airline prices are lowering, making travel and events and conventions more attainable and realistic for companies around the world. Travel is many times one of the greatest limiting factors to whether companies and attendees will hold conventions; lower costs means higher volumes of conventions that need management. Airfare prices are estimated to be about 15% lower in 2016 compared to 2015 due to drops in oil prices and increased competition. (Source: Fox Business)
Overall meeting spending in North America increased by 1.9% in 2016. (Source: Amex Global Business Travel)
Hotels have also played into the decreasing travel expenses related to the hotel side of the event planning business. Group hotel rates in North America have dropped 0.4% from 2015. Good news for days-long conferences.
(Source: Amex Global Business Travel)
According to eMarketer, an increasing amount of marketers and sales professionals are using events and conventions as a way to market and sell their brand and services. 45% of marketers and communications professionals used event management as a tactic to increase engagement with their customers.
The hotel market is always an indicator of what is happening in the convention and event planning market, and new properties have continued to come to market. Hotel openings (midscale to luxury segments) jumped from just over 500 in 2015 to 731 in 2016, a large, new supply for meeting planners. (Source: Amex Global Business Travel)