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October 18, 2013
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London Venues: "We Don't Do Deals"

London venues are steering away from discounting and offering added value in order to win events business, according to new research.

The 2013 London Venues Business Report surveyed 110 venues and hotels across the capital and found that only 8 per cent won business by offering clients ‘added value’ (down from 26 per cent in 2012), while just 18 per cent used a discounting tactic.

Day delegate rates (DDRs) were used by 57 per cent of venues to offer price flexibility – with the maximum level of discounts varying between 21-38 per cent, while 40 per cent of venues surveyed said they did not flex their prices in high or low demand periods at all.

Short lead times continue to be the norm, with events valued at more than £10,000 possessing a lead time of 5.7 months, and events with a value up to £5,000 at 2.8 months.

More than 90 per cent of the venues offered a wireless connection to delegates, with 80 per cent of these offering a free service.

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