428 percent increase over March 2021 and significant growth for the second month in a row in 2022 marks a turning point for meetings and events market
ARLINGTON, Va. — April 6, 2022 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released its monthly meetings and events data for March. Meetings volume from February to March increased 55.5 percent. Even more significant is a 428 percent increase over March 2021.
Individual recovery metrics (average attendees and average space used) are level with 2019. Additionally, March 2022 achieved a 47.5 percent recovery of events from March 2019.
• Average attendees at par with 2019 levels – The average number of attendees per event in March 2022 was 108, compared to 61 in March 2021 and 110 in March 2019. Attendees are now at par with 2019 levels.
• Average space used/attendees ratio level with 2019 – The average space used in March 2022 was 2,756 sq. ft. while meetings in March 2021 averaged 2,512 sq. ft. and 2,987 sq. ft. in March 2019. Proportionally from a per person (p/p) perspective, 2022 meeting space used averaged 25 sq. ft. p/p as opposed to 41 sq. ft p/p in 2021 and 27 sq. ft. p/p in 2019.
• Top five market growth compared to February 2022 – The top five growth markets, in order, in March were Washington D.C., Atlanta, Boston, Chicago, and San Diego, reflecting those markets with the largest increase of meetings compared to February of 2022.
• Corporate meetings continue to be the dominant segment – The corporate segment represents greater than 65.2 percent of meeting and event business with Healthcare, Technology, and Training/Education taking the lead as the largest industry groups. From a recovery standpoint compared to 2019 levels perspective, Online Retailer, Tobacco, Charity Org/Social Services, and Urban Infrastructure are the segments at the highest level of recovery captured in March.
Kristi White, chief product officer, Knowland, said: “For the second month in a row, the growth from the prior month was at or above 50 percent. Recovery is picking up while average meeting metrics have stabilized. Additionally, some of the markets with the most restrictive limitations during COVID are now among the top markets in the country, a sign that recovery is taking hold across the country.”
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. View the Knowland hospitality industry meeting activity forecast, the U.S. Meetings Recovery Forecast, on its website.