Meetings Business Rebounds

It’s been a tough few years for the meetings industry but several positive trends—including increased demand and higher budgets—have emerged, according to Benchmark Resorts & Hotels.

The company, which operates 40 meetings hotels, has released its Top 10 Meeting Trends for 2014.

“The biggest trend is that we’re optimistic,” said Eric Gavin, regional vice president sales and marketing for Benchmark Hospitality, parent company of Benchmark Hotels.

“The booking pace is strong across our portfolio. The economic hangover that lingers in the media is not evident to us.”

The following are Benchmark’s top trends.

#1   Connectivity is crucial
Highly effective WiFi is the number one issue for planning professionals in the meetings business today. Attendees often come to meetings with up to three wireless devises each so greater bandwidth is a necessity for driving multiple devices.  Planners expect adequate bandwidth to keep attendees not only connected and engaged, but happy. And planners want that WiFi to be free.

Gavin said many hotels still do not see connectivity as a high priority. Meeting venues should place the strongest possible emphasis on high bandwidth and Internet accessibility, he added.

#2   Venues need great online content
Planners are finding venues through old-fashioned Google searches. Targeted exposure on the Internet has never been more important so meaningful web content is key for venues.  

This trend has leveled the playing field for meetings properties, said Gavin.

“But the fact is that it’s a good idea for planners to search beyond the top 5 big box venues in a destination to find something more interesting and relevant to their meeting.”

#3   Demand is up
Meeting demand and booking pace is consistently on the upswing as the economy picks up. Short-term bookings are still common but the booking demand window is increasingly stretching into 2015, 2016 and beyond. It’s not quite the good old days, but it’s getting closer!  

#4   Meetings too need to create experiences
Just like leisure travel, the demand for unique experiences is increasingly playing a role in destination decisions. Properties partnering with local assets, such as wineries, historic and natural wonders, adventure resources, and unique off-site reception and dinner venues have a strategic advantage in capturing meetings business.

“For me as a consumer as well as a hospitality professional, we need to find ways to give back to attendees – to give them an enriching experience,” according to Gavin.

“Whether that means planning an event in an interesting city neighborhood or doing a team building ropes course at a resort, it’s all about creating activities that go well beyond the old-fashioned dine-around or dinner cruise.”

#5   Going green is not critical
Although it feels like the right thing to do, being green isn’t seen by most planning professionals as a critical factor in property selection. Properties also aren’t losing business because they lack green practices.

This isn’t to say properties aren’t doing their best to be good green citizens; it’s just that other issues are considered more important to the success of a meeting.

#6   Select social media has a place in meetings
Social Media has minimal impact on securing corporate meetings business, with the possible exception of LinkedIn.  During meetings, however, planners and conferees use Twitter and LinkedIn for communicating with each other and with moderators. Facebook is rarely used to promote meetings business or communicate during a conference. It’s viewed as a personal communications tool for friends and family.

Meeting-specific property apps, tailored to optimize communication during the planning and implementation phases, are on the rise and may soon replace the role of social media.  

#7   Demanding value
Meetings budgets are finally increasing following more than six years of recession.  This is especially true in the association market where attendance is growing for larger meetings.

As corporate purse strings slowly loosen, meeting professionals are becoming more firm with demands for flexibility, including negotiating attrition clauses. The demand for value in their investment has never been higher. It all relates to more accountability in return on investment.

 #8   Health-conscious meetings
Food and beverage in 2014 is all about healthy choices in meal menus and refreshment breaks. Planners and attendees want healthy choices instead of pre-set menu options.  Creative breaks may substitute for refreshment breaks at some properties. Planners and attendees want breaks that perk them up, not slow them down.

#9   Teambuilding is back
As the business environment improves, groups with the budget are looking for unique ways to motivate, inspire and build camaraderie. Socially-conscious groups or those with a more streamlined budget tend to look for other camaraderie-building opportunities, such as volunteerism initiatives in the local community.

#10   Traditional industries are meeting again
Across the country, traditional industries are once again delivering business to meeting properties, including the financial, pharmaceutical, insurance, association and healthcare industries.  Silicon Valley and the high-tech Northwestern U.S. are also rebounding.