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Today, Knowland, the world’s leading provider of hotel meeting and event data-as-a-service insights, and ConferenceDirect, a full-service global meeting solutions company, announced the results of their annual report, State of the Meetings Industry in 2024. The collaboration reveals insights that can help industry professionals understand the expectations and priorities of meeting planners and event managers in 2024.
Download Meeting Planner Survey: State of the Meetings Industry in 2024 here.
Planners are optimistic about 2024, with almost half expecting more meetings to be booked than in 2023. But the pressure is on to deliver high-quality events and a game-changing attendee experience within budget. Rising costs coupled with inexperienced hotel staff are changing how and where planners book, leading to smaller events, a shift to the secondary market, and altered experiences. Investigation points include:
- High prices are major challenge for planners – While planners are more satisfied with venues’ responsiveness, pricing is still an issue for 47% of planners. Catering and audiovisual prices have increased by up to 50%, changing the game for event design and production. Policymakers are turning to planners and intermediaries to help them find ways to do more within their budgets.
- Secondary markets offer opportunities for lower prices and high-quality experiences – Organizers may consider changing destinations and locations to manage meeting costs. Groups are more likely to move events to other markets to maintain event quality and avoid chain size decline. This shift provides opportunities for secondary and tertiary markets to attract new business by offering quality products, services and attractive pricing options compared to the top 25 market destinations.
- Artificial intelligence and sustainable development receive attention, but do not affect strategy – Artificial intelligence is playing an increasingly important role in the conference industry. Planners see opportunities for artificial intelligence in intended uses, such as event mobile apps and virtual assistants. However, there is less excitement about artificial intelligence in day-to-day operations or game-changing digital applications, at least for now. Although sustainability is a priority, it is not yet factored into conference organizers’ key performance indicators.
- Hotel responsiveness improves, but staffing levels and experience still plague events – Satisfaction with the hotel’s adaptability increased by 100% compared to last year. However, planners are still influenced by hotel staffing and experience levels. The hotel cluster sales model is believed to result in slower response times, while a lack of experience results in longer contract periods. Planners noted that a lack of knowledge among sales and operations staff caused them to work harder.
Knowland CEO Jeff Bzdawka said: “Improvements in staffing and technology have allowed hotels to respond more quickly. The number of planners satisfied with venue responsiveness has doubled compared to last year; however, our industry is currently undergoing adjustments that require input from both sides Expectations are aligned with costs. It’s clear from this year’s survey that to unlock our growth potential, we need to work hard to leverage our passion and solve these challenges together.”
Larry Hanson, Chief Marketing Officer of ConferenceDirect said: “Planners are optimistic, with 42% expecting bookings to increase this year. Compared to past surveys, the 2024 report shows a clear and promising trend toward normalcy. Even so, hoteliers still need to A balance is struck between profitability and service standards to encourage and rebuild sustainable relationships with meeting planners.”
About ConferenceDirect
ConferenceDirect is a full-service global conference solutions company with a portfolio of services including: virtual/hybrid conferences, venue selection and contract negotiation, conference management, accommodation and registration services, event technology, strategic conference management plans, incentive programs, Ongoing meeting strategy and planning, cruise services and marketing support. Our more than 400 employees manage more than 13,000 meetings and events for more than 4,400 clients. For more information, please visit www.conferencedirect.com.
About Noland
Knowland is the world’s leading provider of hotel meeting and event data-as-a-service insights. With the industry’s largest historical repository of actual events, thousands of customers trust Knowland to sell their teams smarter and maximize their revenue. Knowland operates globally and is headquartered outside Washington, DC. To learn more about our solutions, visit www.knowland.com or follow us on X (formerly Twitter) @knowlandgroup.
Kim Dearborn
+1 909 455 4316
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