Success Breeds Pressure For Event Planners, Study Finds
The growing demand for large meetings isn’t being matched with new hotels
The meetings industry is doing pretty well at the moment, but as any meeting planner can tell you, doing well comes with its own set of problems.
The 2019 Meetings & Events Future Trends Report [registration], from Carlson Wagonlit Travel’s Meetings & Events arm, says a lot of events will grow next year, with 14 percent larger group sizes in North America. And while demand is rising, especially for meetings with between 101 and 500 attendees, the hotel industry isn’t keeping pace by building enough “big box” hotels with adequate conference space—though the report notes that the pipeline of new hotels is otherwise strong.
“Demand continues to outpace supply of meetings-eligible hotels,” noted CWT Meetings & Events Senior Director and Global Lead Nathan Brooks. “The demand for meetings, which includes accommodation, is going to be significantly challenged by a lack of inventory. Continuing industry consolidation means fewer options for buyers, and that will push prices up.”
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