Data reveals 73.2 percent year-over-year growth in U.S. meetings and events
ARLINGTON, Va. — May 4, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, continued its monthly monitoring of the top 25 markets to identify those markets that are leading the industry in meeting and event volume. Today the company announced that the Chicago market led the U.S. meetings and events industry by volume for April. Second place again went to Los Angeles-Long Beach, with Washington DC in third. The leading industry driver for meetings was National Associations, placing either first or second across the top five markets. This data is a subset of Knowland’s sales pipeline generation platform designed to help hoteliers build and protect a hotel’s revenue base.
Knowland helps hoteliers, especially those in markets that are still building momentum, gain insight into the top locations selected by today’s meeting planners. Having insight into the leading industry drivers provides a clear picture of those groups that are returning to the meeting and event space.
This month, Chicago ranked as the top meetings and events market, boasting spring’s return of top industry and social events amid the growing theatre and entertainment attractions, waterfront adventures, colorful blooms, and exciting art events. The market averaged 162 attendees per meeting and 4,500 sq. ft. of space used, and an average of 16 bookings per property for the month. According to STR, Chicago was a top market for group rooms sold in April.
• Year-over-year comparison – April 2023 event volume increased 73.2 percent over April 2022.
• Top five markets (by event volume) – Chicago was in the lead hosting National Associations, followed by Education and Healthcare. The following four markets, Los Angeles, Washington D.C., Dallas, and Phoenix rounded out the top five. Below is additional insight into the top drivers for these markets.
• Chicago: National Association, Healthcare, Education, Manufacturing, Pharmaceutical/Biotechnology
• Los Angeles: Education, National Association, Technology, Training/Education, Charity/Non-Profit/Social Services
• Washington D.C.: Travel, National Association, Charity Non-Profit/Social Services, Education, Training/Education
• Dallas: Healthcare, National Association, Education, Technology, Social–Sports
• Phoenix: National Association, Healthcare, Wedding, Education/Banding, Education
• Top five markets (by percentage growth) – The top five markets by year-over-year growth in meetings and events are Raleigh-Durham-Chapel Hill, NC; Myrtle Beach, SC; Oahu Island, HI; Jacksonville, FL; and Harrisburg, PA.
About the Data: Insights presented are a result of the analysis of meetings and events data acquired through Knowland data collection and aggregation methods, including field reporting and automated methods of customer and non-customer data collection in primary, secondary, and tertiary markets, as well as its large historical database.