HopSkip Monthly Market Analysis- October 2022

Every month HopSkip analyzes data from around the meeting and events industry to understand trends in the market. HopSkip picks a few of the most relevant trends from research conducted throughout the month and we share those data points with the rest of the community.  

HopSkip Market Analysis: October 2022

Data Point #1:

Meetings volume recovers to 90% of 2019 Levels

Source: https://www.hospitalitynet.org/news/4112776.html

What this tells us:

This is the fourth consecutive month where recovery levels have exceeded 80%.  The groups and meetings market continues to signal a healthy recovery and will surpass 2019 levels by 2023.

Data Point #2:

43% of hoteliers say that agreeing on clauses/terms is their top challenge when booking meetings today.

HopSkip "Q4'22 Meeting Check In & QA" webinar poll

What this tells us:

This is a clear indication that there is a disconnect between hoteliers and planners when it comes to negotiating contracts.  

Data Point #3:

66% of planners say their top challenges are response time from hotels and calculating hidden fees and total projected costs when requesting proposals for hotel events.  

HopSkip "Q4'22 Meeting Check In & QA" webinar poll

What this tells us:

Not surprised to see this.  Hotels are short-staffed, which is leading to longer than usual response times.  Additionally, planners have no easy task calculating projected spending and tracking costs vs. budget.  When certain fees lack transparency, it can be even more difficult to figure out how much the hotel expects your group to spend on the event.

Every month HopSkip analyzes data from around the meeting and events industry to understand trends in the market. HopSkip picks a few of the most relevant trends from research conducted throughout the month, and we share those data points with the rest of the community.