A pool of 150 corporate meeting planners were surveyed by Y Partnership and reported that on average, they booked 15 off-site meetings in the last 12 months with an average booking window of only about 36 days. The survey was commissioned by Zentila, a new hospitality technology company.
When asked what booking window would constitute a “short-term” meeting, they said 13 days. How long did it take them to find a facility for this meeting? Fifty-three percent said two to three days, while 33 percent said more than four days.
“These numbers are telling and represent a fundamental shift in the meetings industry from a more planned and budgeted meetings strategy to an ad-hoc, off-budget strategy. The number of short-term meetings is a far greater percentage of overall meeting demand than we ever expected,” says Mike Mason founder of Zentila. “Meeting planners, both professional and non-professional, are being asked to do more with fewer resources and less time.”
Highlights of the survey include:
1. Relationships are important, to a point. Ninety-seven percent cited that they are more willing to be flexible about their short-term meeting space options, which includes about half of the planners who said they were actually open to trying an unknown facility.
2. Upscale properties are the short-term meeting go-to’s. Seventy-two percent of planners will only consider upscale and luxury hotels for their short-term meetings, according to the survey. And those who can’t find what they need are three times more likely to upgrade vs. downgrade their hotel choice.
3. Shorter lead time equals planner empowerment. The survey found that most planners (68 percent) have permission to sign off on their short-term meeting contracts without management approval.
4. The need for speed sometimes trumps the need to meet. Almost 20 percent of planners said that if they can’t find the facility they need in time, they will either cancel the meeting or host it in their own facility.