Tag: Analysis

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How the future of hospitality is set to change

Keith Prowse, providers of sports hospitality to events such as the Wimbledon Championships, the Ashes and more, have released a new white paper titled ‘People Buy Experiences’.

The new research examines the future of the hospitality sector, and how what was once considered VIP has now become more accessible.

The paper underscores the importance of meeting face to face, showing that many sponsors and brands are using hospitality as a method of building trust with clients and customers.

Sam Coates, head of marketing for Keith Prowse, delivered a talk showcasing some of the results at IMEX Frankfurt on Thursday 23 May.

Among the key findings were that 40% of hospitality buyers were from small businesses, and 61% of attendees to hospitality events were from small businesses.

The industries which were most prominent for hospitality events were professional services, finance, construction and education.

When asked what reason buyers choose hospitality events, 31% said it was to build trust, while 27% said it was facilitate networking. 27% also said it was used to reward or recognise their members of staff.

The hospitality events people aspire to attend the most are tennis and rugby, according to survey results.

The closing remarks of the white paper state: “The automation of brand messaging is eroding trust between brands and their consumers.

“Brands want to meet their stakeholders and clients, and they increasingly understand that premium experiences that are rich in content and time help create the opportunity to engage face-to-face and re-build trust.”

Download the White Paper here.

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HBAA hails promising trends and positive outlook for 2019

HBAA chair Angie Mason hailed the findings of the report, saying that “promising trends provide good reasons for a positive outlook on 2019”.

The report, developed in partnership with The MeetingsBenchmark Ltd. indicates that the average spend per meeting increased again from £1,954 in 2017 to £1,971 in 2018, an increase of almost 1 per cent. However, the average spend per delegate went down slightly from £88.35 in 2017 to £85.71 last year, a decrease of 3 per cent.

While the average day delegate rate (DDR) rose imperceptibly from £32.88 in 2017 to £32.89 last year, the average number of delegates also increased slightly from 53 to 54. With the average size of meetings booked to date for 2019 currently 72, forward prospects so far this year are encouraging.

There were also positive indications in the reduction of lead and conversion times. The average lead time for forward booking of events went down from 83.5 days to 79.7 days while the average conversion time went down slightly from 19 days to 18.5 days,

The HBAA Meetings Barometer also reveals a wide range in the average DDR across the country. There is a major difference between London (£39.97) and Newcastle (£24.91) with Manchester (£31.92), Birmingham (£29.87), Scotland (£27.54), Bristol (£27.51) and Leeds (£26.56) between them.

Angie Mason, HBAA chair said: “The HBAA Meetings Barometer once again provides a fascinating snapshot of the market and highlights several good reasons to be positive and optimistic about the year ahead.”

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Report from Warwick Conference indicates that the conference and events market is on a rise

The UK conferencing and events market is growing as a whole, despite the conference and meetings segment suffering decline for a third consecutive year, according to an in-depth analysis of 11 industry reports by Warwick Conferences.

The analysis, by Warwick Conferences found that the number of events being held in the UK is falling, while continued scrutiny on meeting spend and return on investment (ROI) is driving a shift towards a more strategic meeting management approach.

While indications are that the decline is set to recover and achieve a growth of 3.6 per cent by 2022, the increased importance on ROI means the average number of events being organised is down. However, despite the industry seeing these lower numbers, Warwick Conferences has announced that it has seen a strong start to its financial year.

Paul Bartlett at Warwick Conferences said: “As event organisers attempt to stretch their budgets and deliver the greatest ROI, it’s no real surprise that we are subject to more scrutiny than ever before. However, at Warwick Conferences, we have seen increased numbers of our 24-hour rates, as well as our bigger event spaces continuing to perform well.”

Other findings from Warwick Conferences’ analysis include how venues must take on the role as a strategic consultant to deliver truly memorable meeting experiences, with catering to play an ever-important role.

According to the analysis, the quality of the Wi-Fi will play an important factor for successful meetings, while mobile app use is expected to grow, too, showing how technology is going to play an increasing role in the event experience.

Another expected trend is the wellness of delegates, as Bartlett concluded: “We have already announced positive changes to our wellness offering, thanks to the upcoming opening of the University of Warwick’s Sport and Wellness Hub, while our creative spaces ensure that truly memorable events can be easily and affordably organised.

“Our analysis ensures that we are best placed to support event planners maximise their ROI in 2019 and beyond.”