Although the exuberant predictions from last year of big gains in event business for 2008 have faded, 71 percent of respondents to the Special Events seventh annual Hotel Event Survey expect their event business this year to be equal to or better than 2007. Slightly over three-fourths predict that event business in 2009 will be as good as or better than 2008. The study appears in the November issue of Special Events Magazine.
In the 2007 study, 60 percent of respondents said they expected a jump in event business in 2008.
Respondents expect social events will be stronger than business events. Some 22 percent of respondents predict a decrease in business events over the next 12 months, but only 14 percent expect the level of social events to fall off during this time. A total of 38 percent expect their business event volume will remain steady and 40 percent expect it to increase. In contrast, 43 percent of respondents expect their social event business to remain the same and 43 percent expect it to increase.
The entire report, which presents statistics broken out by property based on number of catering/banquet employees and by special event revenue, is available for a nominal fee from the Penton Research Department. To order online, click here.
Photo by iStockphoto.com/ © Donna Lorka