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Thumbs Up: A Positive Meetings Forecast Predicted for 2015

June 29, 2017

thumbs up predictions, Mulligan Management Group, predictions for 2015, American Express Meetings & EventsAmerican Express Meetings & Events recently completed their worldwide 2015 forecast and found that most meeting indicators were positive even in light of increased compliance, global expansion and innovative virtual meeting options.

Today’s blog post will focus on the key indicators from this report and what they mean as you plan events for next year and beyond.

Key Predictions

In the Arena of Meeting Logistics

 

Here are the North American results regarding expected changes in 2015 as compared to 2014:

  • Group hotel prices will rise 4.6%
  • There will be a .3% increase in the number of meetings
  • Overall meeting spend will increase by .3%
  • The number of attendees at a meeting will rise by .2%
  • Number of conference days will average out to 2.3
  • The top meeting destination choices among planners will be:
    • Chicago
    • Orlando
    • Las Vegas
    • Atlanta and
    • San Diego

 

What Does This Mean?

 

If you haven’t considered a budget increase in room nights, this is the time to make a change. With hotels and planners feeling the pinch with attrition, piracy, double bookings and “thorns in their sides” such as AirBnB, is it any wonder prices are going up? In addition, hotel supply is limited in major cities and with an improved economy, in great demand.

What should you do? If your budget is very tight, look to slow days and seasons to schedule your conference and try to obtain a very competitive price so attendees do not go around the room block.

The rest are positive indicators for face-to-face meetings; given the number of virtual options available to attendees nowadays.


Growth in Meeting Segments

 

Here is what American Express Meetings & Events predicts in terms for growth in the number of meetings for the following meeting segments:

  • Training: Up .9%
  • Management Retreats & Board Meetings: Up .7%
  • Sales and Marketing: Up .5%
  • Advisory Board: Up .5%
  • Conferences & Trade Shows: Up .1%
  • Internal Team Meetings: No Change
  • Product Launches: No Change
  • Incentive Trips & Special Events: Down .2%

What Does This Mean?

 

5 out of the 8 meeting segments are in growth mode, with no change or a slight decrease for the remaining three. This is a great statement about the value of face-to-face meetings.

 

Four Emerging Technologies

 

According to this report, four digital solutions will make a bigger emergence in 2015:

  • Attendee management solutions
  • Event mobile applications
  • Social Media and
  • Hybrid meeting solutions

What Does This Mean?

 

Attendee management tools, mobile apps and social media will reside on attendees’ BYODs, iPad rentals or touch screen rentals. Hybrid meetings will become more attractive next year due to improved technological advances and the need for attendees to pick and choose their face-to-face events.

My recommendation is that you focus attention on these items and make certain your venue has enough bandwidth to support the apps and the virtual attendees.

 

Summary Statement

 

“The meeting industry overall appears to be very much back in business,” stated Issa Jouaneh, Vice President and General Manager of American Express Meetings & Events.

I couldn’t agree more.


How Hartford Technology Rental Can Help With Your Meetings

 

Hartford Technology Rental is based in Chicago and can provide your next meeting with on time delivery, 24/7 technology support and the latest computer and audio visual equipment rentals in every US location.

Contact a Technical Sales Representative today at 888.520.5667 to learn more about our offerings! 

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