group travel
Amadeus and Meeting Professionals International Unveil Six Pivotal Sales & Event Trends Shaping the Industry in 2024
Amadeus | July 16, 2024
• Group travel is set for continued growth with worldwide group revenue up 5% through June 2024 over the same period last year. • Providing value and personalization is crucial in today’s market, driven by the rising demand for unique experiences and an increasing focus on sustainability. July 16, 2024 - A new report from Amadeus and Meeting Professionals International (MPI) integrates global market data with insights from industry specialists to highlight six crucial trends that will shape hospitality over the coming year. The comprehensive guide, Hotel Sales Stars: The Ultimate Strategy Playbook, is designed to assist hoteliers ...
How to Price Buy-Outs of Smaller Hotels in Leisure Markets
Larry Spelts | May 24, 2024
By Larry Spelts Small properties (one hundred rooms or less), especially upper-upscale and luxury boutique hotels in destination markets that are principally leisure with higher ADRs, are often attractive buy-out destinations for certain kinds of groups. This can range from weddings and reunions to corporate and association retreats or incentive travel. The Challenge of Hotel Buyouts for Weekends: Case Study It is essential to good revenue management that opportunity costs be factored into weekend buyouts because hotels that are in principally leisure segment-dominated locations tend to sell out on many weekends perennially, and beca...
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll
GBTA | April 30, 2024
Business Travel Professionals Show Optimism, Commitment in Their Career Outlook for 2024, According to Latest GBTA Poll Work life balance, contentment and industry opportunity in their roles fuel loyalty Global travel buyers and suppliers also report continued knowledge gaps, desire for clarity and implementation challenges related to New Distribution Capability As the business travel industry continues to show strong indicators toward reaching a spending forecast of $1.5 trillion USD in 2024, the latest sentiment poll released today from the Global Business Travel Association (GBTA) reveals an industry workforce of experienced,...
Secondary Markets Beat the Top 25 in Meeting and Events Growth in January, Knowland Reports
KNOWLAND | February 8, 2024
Lexington leads secondary markets, while Nashville heads the Top 25 ARLINGTON, Va. — Feb. 8, 2024 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, reported meetings and events in secondary markets outpaced the traditional Top 25 markets in January. Most notably, the highest growth Top 25 market, Nashville, was up 16.1 percent, while top growth secondary market city, Lexington, Ky., had a 76.4 percent uptick in meetings and events for the month. This exposes a trend that indicates meeting planners are sometimes opting for secondary destinations to reduce costs. This d...
The 2024 Group Business Forecast: Trends to Help Hotels Capitalize on the Back-to-In-Person Boom
Mike Pavicich | February 6, 2024
By Mike Pavicich Group business is back in a big way. In-person events are returning to their pre-COVID normal pace. In 2024, 81 percent of meetings will have an in-person component in them. A recent study by Deloitte anticipates that by 2024, business travel spending will return to its level before the pandemic. This view is echoed in Accor's data, which shows in their latest survey regarding client business travel that 57 percent of those surveyed anticipate a budget increase for travel in 2024 compared to 2023. With this influx of in-person gatherings, in 2024, event technology is projected to become even more critical, providing k...
Business Travel Industry Anticipates a Strong but Challenging 2024 According to Latest GBTA Poll
GBTA | January 31, 2024
Global industry professionals report strength in business travel numbers, outlook on potential risks ahead, and how travel policies are evolving to meet the needs of a remote / hybrid workforce The global business travel industry has put the pandemic behind it and is riding a wave of momentum at the start of 2024. A majority of travel buyers report increases in bookings and spending for 2023 and expect this year-over-year growth trend to continue as they also prioritize sustainable travel in their organizations. Nearly 60% of travel buyers expect more travel in the coming year, with two-thirds anticipating increases in business travel ...
An Example of Profitable Corporate Wellness Programming
Adam and Larry Mogelonsky | November 29, 2023
By Adam Mogelonsky, Larry Mogelonsky In the post-pandemic bullwhip we are still ebbing and flowing through, one big question mark is surrounding the future of business and group travel. Gone are the days of the LOS=1 road warrior as those meetings can be cheaply substituted for videoconferencing. Instead we are seeing more LOS=3 MICE where groups are looking to actually experience a destination or add in a wellness component in order to better facilitate real conversations and more meeting productivity. This is still a very unsaturated space; while leisure has embraced wellness across most categories, business and bleisure are not there...
Atlanta CBD Hotel Submarket Continuing to Push Forward
Anne Gompel, Adam Zarczynski | November 9, 2023
By Anne Gompel, MAI, CHIA and Adam Zarczynski, CHIA With the busiest airport in the world and a lower cost of doing business than peer regions, Metro Atlanta is the key inland distribution hub of the Southeast. Metro Atlanta is home to 17 Fortune 500 corporations like The Home Depot, Coca-Cola, Delta Air Lines, and UPS. It also sustains a diverse economy centered around technology, healthcare and health tech, logistics, advanced manufacturing, and now electric vehicles and clean tech. For the 10th consecutive year Area Development Magazine has ranked Georgia the number one state for business. Atlanta's strong economy has been spurred by...
