Corporate meetings have been slower to recover from the Great Recession than other types of meetings -- until now, according to the International Association of Conference Centres (IACC), which today published the 2015 edition of its "Trends in the Conference Center Industry" report. In it, IACC reveals a significant increase in corporate meetings at conference centers worldwide.
"For the third year running, this comprehensive trends report, the only one which focuses on small meetings-focused venues industry wide, indicates that IACC members have improved occupancy and rates are stronger than the previous year, significantly so for IACC's corporate meeting venue operators," IACC CEO Mark Cooper said in a statement. "Corporate meeting venues lead the recovery with the highest average daily rate (ADR) and revenue per occupied room (RevPOR). Given the package plan represents 90 percent of this group of IACC-members' business, it can be assumed that corporate customers are investing significantly in training and meetings and in their use of member venues."
Although corporate venues are performing especially strong, all venue types have predicted positive occupancy growth for the year, according to IACC, which said conference centers with more than 200 guest rooms project a 6.5 percent increase in occupancy this year compared to last. Resort meeting venues, meanwhile, achieved the greatest increase in Complete Meeting Package (CMP) rates, which are up 2.6 percent year-over-year.
"It is encouraging to see another year of improved performance and we are seeing clear signs that this important sector of the meetings industry is being invested in by member customers," Cooper continued. "We are also seeing a greater number of our members attending learning events and conferences as they invest in education and innovation, which will result in a skill-enhanced workforce to prepare for increased demand within the small meetings segment in the coming year."
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