U.S. Meetings and Events Volume Shows Double Digit Growth for Fourth Consecutive Month According to Knowland
May Group Data Shows a 28.4 Percent Monthly Increase in Meetings and Number of Attendees Have Reached 2019 Levels
Knowland, the leader in AI-powered meetings and events data for hotels, convention and visitor bureaus, conference centers and other venues, today released its monthly meetings and events data for May. The numbers reveal that May U.S. group meetings volume increased 28.4 percent over last month.
We continue to see metric improvement as average attendees aligns with 2019 levels and meeting space used comes within 10% of 2019 values. Throughout the summer, we forecast higher attendees and lower average space per person as meeting restrictions continue to be lifted. Increases in social and SMERF events are expected as are typical for the summer months.
- Average attendees - The average number of attendees in May 2021 was 65, compared to 64 in May 2019, aligning with 2019 performance.
- Average space used - The average space used in May 2021 was 2,601 square feet while meetings in May 2019 averaged 2,386 square feet. Average space used is continuing to decline as distancing restrictions are lifted.
- Individual market growth - The top five growth markets in May were Indianapolis, New Orleans, New York, Philadelphia, and San Diego.
- Corporate meetings represent the largest market segment - The corporate segment represents 58.9 percent of meeting and event business. The financial/banking segment enters the top markets for meetings with healthcare, training/education, technology, manufacturing, and financial/banking as the biggest producers.
Kristi White, vice president of product management, Knowland, said: "Meeting numbers grew in double digits again in May. Attendees and size of space used is moving closer to 2019 numbers. This is one of the truest signs the industry is returning to normal. Additionally, the markets with the largest month-over-month growth are markets we haven't seen in our top five list so far this year. This means growth is spreading across more markets. As we approach the summer, growth should continue. Further into the year, we expect metrics to get even closer to 2019 benchmarks."