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.
Data Point #1:
Meetings Volume Recovers to 85% of 2019 Levels
https://hotelbusiness.com/knowland-meetings-and-events-record-rare-august-jump/
What this tells us:
This is the third consecutive month where recovery levels have exceeded 80%. This is a good sign for the recovery of the meetings and events industry.
Data Point #2:
The average number of attendees increased to 108 from 68 in 2021 and 92 in 2019.
What this tells us:
Another positive sign for recovery. This tells us that more attendees are feeling comfortable attending meetings and events in person.
Data Point #3:
The average daily rate (ADR) increased by 16% over pre-pandemic levels.
What this tells us:
Hotels are trying to get back to profitability. Additionally, many hotels are experiencing a surge in demand which allows them to offer higher/more competitive rates.
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.