The 2015 edition of Trends in the Conference Center Industry focuses on small meetings-focused venues industry wide.
“Corporate meeting venues lead the recovery with the highest average daily rate and revenue per occupied room,” said IACC chief executive Mark Cooper.
“Given the package plan represents 90 per cent of this group of IACC-members’ business, it can be assumed that corporate customers are investing significantly in training and meetings and in their use of member venues.”
Participation from day meeting venues in this survey has increased and is providing valuable data on what is a growing member category for IACC. The average external day meeting rate rose significantly to US$105.
Last year, IACC members predicted a bumpy ride, business wise, and this proved to be the case with the economy experiencing some setbacks and earlier improved earnings faltering later in the year.
This year, all venue types have predicted positive occupancy growth, with corporate venues forecasting the greatest improvements by the year’s end. Resort meeting venues achieved the greatest increase in complete meeting package (CMP) rates, showing a 2.6 per cent increase over the previous year. Executive conference venues had forecasted a 5.9 per cent increase in conference package rates in 2015 and resort venues a 3.4 per cent in CMP rates.
Day meeting venues reported a 12 per cent increase in package rates, which include room hire, technology and food and beverage. IACC conference hotel venues with 200 or more guestrooms have reported, so far this year, a 6.5 per cent increase in occupancy, outperforming their comparable resort member properties.
“It is encouraging to see another year of improved performance and we are seeing clear signs that this important sector of the meetings industry is being invested in by member customers,” said Cooper.
“We are also seeing a greater number of our members attending learning events and conferences, as they invest in education and innovation, which will result in a skill-enhanced workforce to prepare for increased demand within the small meetings segment in the coming year.”