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March 27, 2007

HBI report gives inside track on corporate meetings industry

A new study described as "the first conclusive report on the corporate meetings market", has been published by Hotel Brokers International.

Hotel Brokers International, whose buying power in the meetings market exceeds £60m, is widely recognised by clients and suppliers as one of the UK’s leading meetings organisers. HBI’s Meeting Industry Report 2007 draws together over 15 years of business data and commercial acumen, and the association claims that it  "is set to become a benchmark for finance and procurement directors, as well as corporate marketing, training and travel departments".

The meetings sector, which represents £375 billion globally, has until recent years been a largely unregulated area of corporate expenditure. Fragmented departments and disparate cost centres have meant that meeting expenditure has been difficult to track. The Meetings Industry Report is set to provide those with purchasing authority a definitive overview that will assist them in maximising their purchasing power.

Undertaken by Travel Intelligence Network, the report draws on both quantitative and qualitative research. Statistical reporting is based on HBI’s consolidated buying power benchmarked against other trade associations and management consultancies data. Qualitative feedback is provided by key corporate purchasers of many of the UK’s FTSE-100 as well as PricewaterhouseCoopers and Deloitte and key figureheads from hotels and venues.   

As well as providing in-depth research into rates and expenditure, the report also looks to other key considerations on the corporate agenda, corporate social responsibility, requests for proposals and technological advances in the meetings sector.  

Commenting on the report, Des Mclaughlin, managing director of Hotel Brokers International, said: “Our client base is predominantly financial institutions. For some years we have been party to highlighting the needs for consolidation of expenditure and in turn providing procurement with an return on their investments. However, there is little correlation between commoditising the purchasing of meetings and products that actually suit the need of the delegates. The report has been written to set an industry benchmark for client and suppliers alike and will ensure a greater depth of understanding of pricing and the challenges facing the industry.”


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