US meeting market now looks stable
The US meetings market has reached a period where stabilized performance is expected for the next few years, according to a survey of meeting planners conducted by PKF Hospitality.
More than half of the planners in the survey or nearly 57% said their volume of meetings would be the same as last year.
A far greater percentage of planners, 80%, said 2006 exhibition/trade show activity would equal last year.
“Not only will the number of events planned for 2006 be roughly equal to 2005 levels, but the duration and geographic nature of the events will likely by the same,” said PKF.
Another healthy trend has been greater-than-expected attendance for recent events, the survey found.
The survey said that the US meetings market has now mirrored the domestic hotel industry in completing all phase of the business cycle from peak performance in the late 1990s to contraction in 2001 and the beginning of recovery and growth in 2004.
The survey included 163 meeting planners and was done on behalf of Convention South Magazine.
Report by David Wilkening
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