Post-lockdown, planners are preferring hybrid formats to remain nimble, have bigger budgets, and are prioritising technology expertise and support, finds Cvent Planner Sourcing Report – Asia Edition (June 2022)
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Hoteliers in Asia should prepare now for the return of in-person MICE (Meetings, Incentives, Conferences and Exhibitions) business and aim to enhance their hybrid offerings to attract more business to their properties.
The June 2022 issue of Cvent Planner Sourcing Report – Asia Edition revealed that event planners in the region are currently actively sourcing and booking in-person events.
They are also opting for hybrid formats to stay flexible, spending more on such corporate offerings and have listed tech expertise and support high on their list of sourcing requirements.
Sandeep Nagpal, vice president of marketing, Cvent, said: “As MICE and corporate travel continue to rebound, now is the time for hotels and destinations to get in front of planners at the outset in order to attract them to their locales. In addition, the results of this study show that planners’ expectations have changed.
“While health and safety remain top of mind, hybrid support onsite and technology expertise are now critical components of the sourcing process and hospitality professionals who adapt to these changes will be better positioned to increase their MICE business.”
For its bi-annual pulse check on meeting and event planners’ sourcing plans and priorities, Cvent commissioned Censuswide, an independent research company, to survey event planners in Asia.
The survey was conducted from March 30, 2022 to April 12, 2022. The report drew key findings from responses garnered from hundreds of event planners, managers, coordinators and directors across China, Singapore, Thailand and India.
Respondents came from a broad range of industry sectors such as finance, healthcare, travel, transport, education, arts & culture, IT, telecommunications, retail and leisure.
Overall, 92 per cent of planners across Asia are currently sourcing for in-person events. This increased to 98 per cent of those based in Thailand, compared to 86 per cent in Singapore.
More than half of the planners indicated hybrid events as the format they are most likely to choose in 2022. Adopting a cautious stance in these uncertain times, they believe this option buffers them from last-minute disruptions.
In addition, the data also suggested that budgets for in-person and hybrid events are also on the rise.
65 per cent of planners informed that their budgets for both in-person and hybrid events are bigger than pre-pandemic. In addition, the portion of those budgets that are allocated to venues, event technology and A/V production have all increased.
Hotels and venues with a track record of hosting successful hybrid events – or that are able to offer clients a switch to this option at short notice – will likely be better positioned to secure more MICE business in the future.
Key to determining their choice of venue are technology expertise and support, planners in the region pointed out.
To have a competitive edge early in the sourcing process, hotels and venues should leverage collaborative, immersive 3D online software which allows for venue comparisons, virtual tours, as well as real-time room configuration. These experiences help planners visualise their events without needing an in-person site visit.
To find out how best to attract, engage and support planners in Asia in their sourcing requirements, download the full report for free here.