Did you know 62% of event planners anticipate producing their next event by the end of the year?.
With only one month remaining in the 2022 calendar year, the strong momentum with in-person meetings and events remains steady for event planners in North America and the rest of the world.
Our latest report from Northstar and Cvent contains valuable insights about how event and meeting professionals feel today, their view of hotels, and what they expect meeting volumes to look like in 2023.
Disconnects Between Planners and Hotels
Planners are still struggling to work efficiently with hotels, with the majority of difficulties related to ongoing staffing shortages. Planners are very concerned about the staffing issue, and results show that hotels were ranked 3.31 on a scale of 1 – 5. This is the lowest ranking we’ve seen so far and seems to be trending in a downward direction.
Another contributing factor as to why planners are still having a difficult time working with hotels is a lack of available event space. We found that 46% of planners are having trouble finding space and available dates.
To combat that frustration, venue sourcing technology like the Cvent Supplier Network can give planners visibility into a rolodex of venues to help with locating the perfect event space on their desired date(s). Planners should also consider utilizing Cvent Diagramming and Seating to seamlessly collaborate with event stakeholders and help improve communications with supplier teams during the ongoing staffing shortages.
Planners Continue Sourcing and Booking New Events
We found that 68% of planners are actively booking or sourcing new meetings and events. Keeping in mind that 59% of planners expect to plan more in-person events in 2023 compared to 2022, it’s more important than ever for planners to stay agile, act quickly, and think outside the box when sourcing and planning for their next event.
Keeping tabs on what’s available on the Cvent Supplier Network and having access Cvent’s new 3D microsite gives planners the capability to browse unique event spaces and visualize stunning details.
Event Experience Outweighs Cost Concerns
Although cost concerns continue to rise, planners are still prioritizing the event experience. In terms of importance, return on experience just barely outranks cost containment, rated 4.4 and 4.3 out of 5, respectively.
Even though costs are on everyone’s mind, planners know the show must go on. We learned that 62% of planners are finding cost savings in areas that will not diminish the attendee experience – this statistic is up 4% from August 2022.
Still Not Seeing Pre-Pandemic Attendance Numbers
In our final key finding, we learned attendance numbers are still below pre-pandemic levels, and this trend may carry over into 2023. This could be related to event professionals adopting more hybrid or virtual approaches to their total event programs.
72% of planners say attendance levels were at or below 90% in 2022 compared to pre-pandemic averages, and 82% expect below pre-pandemic attendance levels in the new year.
Although in-person events are back, these are interesting results to consider. Adopting event technology will help planners keep up with the industry’s fast pace and make it more attainable to drive incremental revenue.
Maggie Lancashire joined Cvent through the Social Tables acquisition in 2018. Coming from a hospitality background working in Client Services, Maggie has ample experience working with event planners who utilize Cvent technology to strategically plan their meetings and events. Most recently, Maggie transferred to Product Marketing at Cvent and is thrilled to put her customer/product knowledge to use in her new role. She has a passion for writing and storytelling, and truly understands the significance that event technology brings in our ever-changing environment.