Business Improving, but Planners Struggle With Seller’s Market

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MPI Report

Aria Resort Las Vegas

By: INTERNATIONAL MEETINGS REVIEW

Meeting Professionals International has published its Meetings Outlook, 2015 Winter Edition. The newest installment of the quarterly special report indicates business is up and getting healthier. However, the rising global seller’s market will continue to task meeting professionals suffering from shorter lead times and budgets that aren’t keeping pace with costs.

Key findings include:

—70 percent of meeting professionals expect overall business conditions to improve in the near future.

—49 percent of respondents anticipate a business decrease in the government meetings segment.

—41 percent of respondents see a positive future for the domestic corporate segment.

—Projections for live attendance numbers have been on the rise approximately 5 percent each quarter since Q2 2014.

To view the full report, visit www.mpiweb.org/meetingsoutlook.

Some excerpts and stats from the report follow:

An emerging seller’s market for hotels is making the lives of many planners more complicated these days, even though the meeting industry showed signs of stabilization throughout 2014. Organizations’ meetings budgets have been rising steadily and are predicted to continue—11 percent of respondents who participated in this survey anticipate budgets to increase by 6 percent or more in the near future and 42 percent eye an increase between 1 percent and 5 percent.

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