MEETINGS 2014
your business
An optimistic forecast for the events industry has been welcomed by event planners and venues alike. Chris Williamson, chief economist for Markit said a feelgood environment currently existed in the industry
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Last year, about 8% of a company’s marketing budget was spent on events. There is every indication, according to Williamson, that there will be growth in 2014.
In the Thames Valley and Hampshire, the winter flooding has had an impact on a number of venues. The Swan at Streatley had to close part of the hotel when the Thames broke through, and it was a similar story at the Runnymede-on-Thames conference hotel, where events had to be cancelled and the venue was closed for a week.
None of which has helped sentiment in the events industry. But as International Confex, which takes place at Olympia in London next month, will show, the industry has quickly bounced back. Confex visitors organise over 90,000 events a year – 76% in the UK – and generate an average £62,394 worth of business per visitor – proof of the importance of the show.
The hotels sector, despite some high-profile failures, has been deemed “strong“ with a solid 2013 seeing room yields rising 9.9% year on year. And this year has started well with the Best Western group, for instance, reporting double-digit sales growth in the first two weeks of January.
Analysts believe there will be a number of acquisitions in the hotel sector this year. Already Starwood Capital Group has bought the Four Pillars Hotels operator in a deal said to be worth £90 million.
New hotel operators, like entrepreneur Hugh Osmond who has bought the Great House Hotel in Sonning, and Hampshire’s Robin Hutson, the man behind the successful Pig hotels – a third is due to open near Bath next month – continue to invest in the sector.
And the “old guard“ of hotels, such as Cliveden and Chewton Glen, are continuing to see significant investment as they look to retain their positions as five-star luxury venues.
All in all, it’s a positive time to be booking events and running conference venues.
David Murray Publisher
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