Corporate market segment realizes a significant increase in percentage of overall business representing nearly 70 percent of the meeting and event business
ARLINGTON, VA — November 3, 2021— Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released monthly meetings and events data for October. The numbers reveal that October U.S. group meetings volume increased 30.4 percent over September 2021.
Average attendees per event remains stronger than 2019 for the second month in a row. Additionally, average space used was still higher than 2019, however the gap between these narrowed dramatically.
· Average attendees increase over 2019 – The average number of attendees per event in October 2021 was 110, compared to 80 in October 2019.
· Average space used –The average space used in October 2021 was 2,734 square feet while meetings in October 2019 averaged 2,680 square feet.
· Top five market growth – The top five growth markets, in order, in October were Phoenix, Washington, D.C., Atlanta, Orlando, and Boston.
· Corporate meetings represent the largest market segment – The corporate segment represents 69.6 percent of meeting and event business with the healthcare and technology segments taking the lead as the largest industry segments.
Kristi White, chief product officer, Knowland, said:
“October continued the strong growth we’ve seen since the beginning of the summer. The Top 25 Markets continue their dominance as the biggest growth markets, however, there were significant shifts in the top markets which is a positive as growth spreads within the Top 25. Finally, there was a substantial uptick in corporate events. While some of this increase is related to shifting seasonality, it is also a sign of corporate events recovering at a faster pace.”
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.