Increased Meetings Demand Continues to Drive Costs Up
Photo Credit: A meeting at Affiliate Summit West 2018 in Las Vegas. Flickr / Affiliate Summit
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More demand for meeting space has driven up prices around the world, giving upscale hotels more leverage during negotiations. Meanwhile, some planners are being left behind even as event technology catches on among more ambitious organizations.
We've been tracking the increase in demand for meetings for some time, and the sector continues to chug forward with increased costs and complexity for planners.
Carlson Wagonlit Travel's 2019 Meetings & Events Future Trends report predicts a 5 to 10 percent increase in meetings demand for 2019, with air and hotel prices rising in tandem.
In North America, for instance, the surge in meetings is expected to bring Las Vegas back into the top spot for events, according to Carlson Wagonlit Travel's advance booking data, with cities like San Francisco seeing a drop in popularity, likely due to rising costs.
From the hotel perspective, upscale properties are seeing the most demand even as prices increase. Group size is expected to grow 14 percent in 2019.
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