THE International Association of Conference Centres (IACC) has released the 2015 edition of Trends in the Conference Centre Industry, compiled by PKF Consulting, CBRE Hotels.
The report shows that for three years running, occupancy has improved and rates are stronger, more so for IACC’s corporate meeting venue operators. Participation from day meeting venues in this survey has also increased and they provide valuable data on what is a growing member category for IACC. The average External Day Meeting rose significantly to US$105.
Mark Cooper, CEO of IACC, noted that corporate meeting venues lead the recovery with the highest ADR and RevPAR.
IACC members had predicted a bumpy ride – business wise – for last year but sentiments have improved, with all venue types expecting positive occupancy growth this year. Corporate venues are forecasting the greatest improvements by year-end.
IACC conference hotel venues with 200 or more guestrooms have reported a 6.5 per cent increase in occupancy so far this year, outperforming their comparable resort member properties.
Cooper said: “It is encouraging to see another year of improved performance and (there are) clear signs that this important sector of the meetings industry is being invested in by member customers.
“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.”
According to the report, resort meeting venues achieved the greatest increase in Complete Meeting Package rates, showing a 2.6 per cent increase over the previous year.
Executive conference venues had forecasted a 5.9 per cent increase in conference package rates in 2015 and resort venues a 3.4 per cent increase in Complete Meeting Package rates, while a 12 per cent increase in package rates, which includes room hire, technology and F&B costs, was reported for day meeting venues.
