Northstar Meetings Group’s published their latest PULSE Survey on 9th March. The research was carried out between 18th February – 2nd March and is mainly focussed on the North American events industry, although event organsiers from around the world are included.
It found that 81% of meeting planners will hold their next live event during this year. Only 19% percent will hold their next live event in 2022 or later.
The i-Meet survey is similar with 78% or planners holding their next live event this year, 82% are contracting and 79% happy to travel.
The Northstar survey says that event organisers in the UK and Europe are more cautious, with 71% holding their first live event this year and they are relying more on virtual and hybrid meetings.
Recovery
A complete recovery will take some time, it is predicted that by the end of 2022 the events industry will be around 75% of pre-coronavirus levels. The vaccine rollout is essential to this.
Market segments
- Associations
Associations are the industry segment leading the recovery, followed by independent organisers and sports. They are more likely to hold live events in the second quarter of 2021 and planning hybrid meetings rather than virtual ones. These segments are also twice as likely to attend an event in person themselves in the next three months.
One of the reasons seems to be that associations don’t have the same liability issues that corporations have in place.
- Corporate Meetings
Corporate meetings will be slower to return because many companies have travel restrictions in place and will do for some time to come. Again, the vaccine programme is essential to recovery and companies’ liability to employees means that they are waiting for a safer environment before easing restraints. We will see if companies wait until herd immunity is achieved or whether they limit travel to employees who have been vaccinated.
Some companies feel that they haven’t suffered significantly from not attending meetings, so they are holding on to their budgets until they can see a clear return on investment.
COVID-19 safety protocols
More event organisers in the US will require attendees adhere to safety protocols at live events, as they know that attendees need to feel safe:
- 73% of event organisers will make attendees wear masks
- About 20% will require proof of a negative Covid test to attend
- 20% plan to carry out rapid tests on-site
- 19% will require proof of Covid-19 vaccination
Fewer British and European organisers will mandate mask-wearing and general safety protocols for their future in-person events, as they plan to rely on testing and proof of vaccinations. This is in line with them returning to live meetings at a later date, when the threat of the virus is reduced.
Hybrid and Virtual events
The survey has seen a regular decline in confidence in virtual events since it was started last year. The more planners produce virtual events (or attend them), the less they think they’ll be successful from a business perspective.
However, hybrid events are seen as a viable option with 54% of organisers in North America planning them (up from 48% in January). The figure is higher in the UK, with 69% of organisers planning hybrid events
Consequences
Some American organisers are concerned that the US is relaxing restrictions too quickly, but others feel that it’s time self-regulation ie if you are worried then stay at home, but allow those who want to get back to work do so.
Canada, in particular, has stricter regulations and is not in a hurry to resume events. Canada has prevented Americans from entering the country at the moment and they want to see greater compliance with mask wearing and safety protocols before international travel resumes.
Hotels and Venues
Again, this information is from America, where it is reported that the travel, leisure and hospitality industry increased employment by 355,000 jobs in February. But, the sector is still down more than 20% on last year.
STR reported that occupancy rates for U.S. hotels has improved to 48%, the highest it has been since October. It is predicted that employment is unlikely to reach pre-Covid levels until 2023, according to the American Hotel and Lodging Association’s 2021 State of the Industry report.
Hotels which had closed temporarily are now re-opening and seeing interest from leisure travellers, particularly theme park and gaming resorts.
However, in New York, which was particularly hard hit by the pandemic, only around 42% of hotels are open because of the lack of business travel. It is estimated that around 20% of hotels in New York state will not re-open, such as the Omni Berkshire Place, Times Square Edition, Hilton Westchester, W New York Downtown, Hilton Hotel Times Square, Courtyard by Marriott in Herald Square, AKA Wall Street and the Roosevelt Hotel.
We are waiting to see what will happen in Europe, which is experiencing an increase in Covid cases and lockdowns are being introduced in various countries.
It’s good to see that the conference, meeting and events industry is getting ready to return and that there is positivity. If you need any help with venue finding, please email enquiries@edgevenues.com.
If you are a venue and would like to promote your venue on www.edgevenues.com, call us now on 01780 484051.
