Benchmark Hospitality International has released its revelations about the latest meeting trends. Things have changed a lot and this has a great deal of significance for the hotels and the companies alike.
The tourism industry loves business people. They tend to spend a massive amount of cash on purpose just to improve the company’s image, rarely cause trouble or make a mess and tend to come in groups as opposed to the individual holidaymaker. However, trends are changing and the conference meeting of 15 years ago does not necessarily involve the same as the ones today.
According to Benchmark Hospitality International focusing on saving seems to have become a major priority of companies and cancellations of conferences, which cost a huge amount, have become a rarity. It used to appear that companies did not make a fuss about cancelling at the last minute. Indeed, if there are more profitable and less time-consuming things to devote yourself to then why not? However, the attitude has changed and companies now stick to their plans. Linked to this trend is the fact that companies now have a shorter booking time for conferences, as 30/45 days are now typical booking times.
Meeting groups are smaller than they used to be and the participants now tend to stay in the hotel for shorter time. Again, this is linked to saving money. Companies have understood that there is no point in paying for another night in a hotel just to avoid a little evening tiredness. Similarly, getting back to the office is of prime importance and time is money. The number of participants in hotel conferences in Europe has dropped by around 50% in the last 15 years. Companies have been thus saving significant amounts.
The general style of conferences now involves fewer frills and there is a much more “down to business” approach to matters. Lunches are less extravagant and less is spent on drinks and refreshments, although healthier options have shot up in popularity.