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September 29, 2015

Americas: What the Seller’s Market Means in 2016

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MarketCWT Meetings & Events is out with its 2016 Meeting and Events Forecast, and the outlook for meeting planners in North America in the next 12 months is tough! Extremely high demand (the highest in more than 30 years) is still so far ahead of supply that North American hotel rates are projected to go up 4.3 percent, a bigger increase than anywhere else in the world. Correspondingly, the cost per meeting attendee per day in North America is expected to rise 4.5 percent.

As a result, CWT M&E sees hotels much less willing to hold space, and much more likely to push stricter cancellation and attrition clauses—including limits on rebooking and resell clauses.

Adding to the challenge, the report points out, are increasing food prices, making it even harder for planners to manage meal budgets while accommodating attendee food preferences and restrictions.

Read more at meetingsnet.com... 

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