IACC & PKF Release "Trends® in the Conference Center Industry 2013"
August 8, 2013 1:55pm
(New York, NY) - August 8, 2013 -- IACC has released the 2013 Edition of "Trends® in the Conference Center Industry." This year's trends report provides clear signs that IACC Conference Centres are experiencing recover and "outperforming the broader hotel sector in relation to occupancies and profitability."
Demand for Conference Centres grew along with average rates, with Executive style Conference Centres performing better than average with an ADR increase of 5% over the previous year. This led to a higher-than-average rise in rates compared with the hotel industry average in 2012, indicating conference centres are in vogue and the choice of Meeting Planners.
The report, compiled by PKF Hospitality Research on behalf of IACC, showed that Executive Conference Centres enjoyed the greatest gain in occupancy during 2012, growing on average 7.3%. Dave Arnold, Co-President and Chief Executive Officer-East with PKF Consulting USA, LLC commented "Our results this year indicate that a long- awaited recovery is taking place for those centers positioned to do so. Corporate meetings have proven to be the last segment of the market to claw back to some semblance of former glory".
'Turnover is Vanity and Profit is Sanity'. In 2012, IACC Resort Centres achieved the highest profits on a dollars per-available-room basis. On average, Operating Profits increased 14.5% during 2012 and in 2012, Residential Centres enjoyed greater gains in Net Operating Income (NOI) compared to comparable transient hotels.
In 2012, Executive Centres achieved the greatest increase in profit margin, increasing by 27.4%.
Mark Cooper, IACC's CEO commented "With improving margins and greater stability on the marketplace, we expect to see our members investing further in their conference environment for their clients. It will be our aim to provide our members with knowledge, trends and research to help them make the very best choices as they further development their services and facilities".
IACC's Trends® in the Conference Center Industry is available on the IACC website at: http://iacconline.org/resources/index.cfm?fuseaction=Store&categoryid=7
Trends® in the Conference Center Industry is compiled and produced by PKF Consulting USA, LLC and PKF Hospitality Research, LLC.
conference center trends
The IACC Vision: "IACC is a community of passionate people and organisations delivering innovative and exceptional meeting experiences."
Founded in 1981, the International Association of Conference Centres is a not-for-profit organisation dedicated to promoting understanding and awareness of the conference centre industry and to giving member properties the tools necessary to provide an exceptional IACC meeting experience. Active members meet a set of stringent Quality Standards and agree to a Code of Ethics. Currently, the association includes approximately 400 members from the United States, Canada, Mexico, Australia, New Zealand, Japan, Philippines, Denmark, Sweden, Belgium, France, Spain, England, Scotland, The Netherlands, Germany, and South Africa. For more information, visit the website at www.iacconline.org."There are meetings and then there are IACC meetings."
Contact: James M. Mahon
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