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November 22, 2016

Stats and Trends: Year-End Parties, Group Bookings to Grow




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This week in meetings industry research are some positive signs for late 2016 and beyond.

TravelClick: Group Bookings Up for Next Year

The first quarter of 2017 is off to a strong start, according to TravelClick's November North American Hospitality Review (NAHR) report, with strong group ravel driving growth. 

Across all travel segments in the first quarter of 2017, occupancy and ADR are up 6.7 percent and 2.7 percent, respectively, and occupancy for the group segment is up 6.8 percent, according to the report. 

For the next 12 months (November 2016 – October 2017), transient bookings are up 2.7 percent year-over-year, and ADR for this segment is up 2.0 percent. When broken down further, the transient leisure (discount, qualified and wholesale) segment is showing occupancy gains of 3.9 percent with ADR gains of 2.8 percent. The transient business (negotiated and retail) segment is down -0.8 percent, but ADR is slightly up 1.7 percent. Lastly, group bookings are up 3.8 percent in committed room nights over the same time last year, and ADR is up 2.6 percent.

The November NAHR looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays that are booked by November 1, 2016, from the period of November 2016 to October 2017.

Study: Year-End Corporate Parties Expected to Grow

In other news, the end of the year is fast approaching, and catering and event professionals are expecting to see growth in corporate end-of-year parties, according to a new report from the National Association for Catering and Events (NACE)

In the survey, 42 percent of NACE members said that business would increase, while 28 percent said that levels will be about the same and 19 percent said they would be lower. 

Additionally, most -- 47 percent -- said that corporate event business for 2017 would be higher than in 2016. Thirty-five percent said there would be no changes and 18 percent said that business would be lower. 

Many companies are exploring ways to host their year-end celebrations, but in ways that are still economical, the NACE said. For example survey respondents said that events are being in held in employees’ homes, or in venues that are already decorated for the holidays. Many also said that entertainment – particularly technology-based and interactive entertainment – is becoming more important than menu selections.  

Source: NACE


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