Meetings Outlook: Redefining the Meeting Experience

By Bruce Fears President, ARAMARK Harrison Lodging | October 28, 2008

This year is going to be one of the most exciting times in the meetings and conference industries to date. With all the changes taking place, it can also be daunting if you're not on top of the competitive arena. The following article outlines some of the most significant trends and opportunities in the industry as projected by myself and my team at ARAMARK Harrison Lodging, a leading provider of professional services to 50 conference and corporate training centers, specialty hotels, national and state parks, resorts and other tourist destinations throughout the United States.

The meetings and conference industry will continue to expand

Over the past few years, we've seen significant sustainable growth in the meetings and conference industries. A recent study conducted by PhoCusWright, and partially funded by ARAMARK Harrison Lodging, reported that the group and meetings revenues will develop into a $175-billion industry by 2008 - up from $164.1 billion in 2007. While much of the expansion is associated with a rebounding economy, it can also be attributed to a number of other factors.

Overall, we are seeing bookings stretching out from two to four months in advance instead of one or two months; that is always a sign that the economy and meetings market is getting better. Additionally, a survey conducted by the Wall Street Journal querying 60 economists forecasted that the U.S. economy is poised for rebound this year - offering another optimistic outlook for 2007.

The leisure meetings industry represents the best potential for revenue growth

We are predicting that the social/leisure group travel business will represent the most significant market opportunities in the meetings industry this year. The PhoCusWright study backs this up by reporting that this segment, representing a $47.2 billion market in 2006, is projected to reach $51.3 billion by 2008.

Choose a Social Network!

The social network you are looking for is not available.

Close

Hotel Newswire Headlines Feed  

Coming up in June 2019...

Sales & Marketing: Selling Experiences

There are innumerable strategies that Hotel Sales and Marketing Directors employ to find, engage and entice guests to their property, and those strategies are constantly evolving. A breakthrough technology, pioneering platform, or even a simple algorithm update can cause new trends to emerge and upend the best laid plans. Sales and marketing departments must remain agile so they can adapt to the ever changing digital landscape. As an example, the popularity of virtual reality is on the rise, as 360 interactive technologies become more mainstream. Chatbots and artificial intelligence are also poised to become the next big things, as they take guest personalization to a whole new level. But one sales and marketing trend that is currently resulting in major benefits for hotels is experiential marketing - the effort to deliver an experience to potential guests. Mainly this is accomplished through the creative use of video and images, and by utilizing what has become known as User Generated Content. By sharing actual personal content (videos and pictures) from satisfied guests who have experienced the delights of a property, prospective guests can more easily imagine themselves having the same experience. Similarly, Hotel Generated Content is equally important. Hotels are more than beds and effective video presentations can tell a compelling story - a story about what makes the hotel appealing and unique. A video walk-through of rooms is essential, as are video tours in different areas of a hotel. The goal is to highlight what makes the property exceptional, but also to show real people having real fun - an experience that prospective guests can have too. The June Hotel Business Review will report on some of these issues and strategies, and examine how some sales and marketing professionals are integrating them into their operations.