Introduction:

As the meetings and events industry evolves in 2024, key trends are shaping how planners approach events. A recent webinar featuring Jan Freitag from CoStar Group and Cvent’s Kell Kopec and Alex Platia highlighted the top trends driving the sector. From hotel negotiations to attendee preferences, here’s a quick look at the key insights for meeting planners.

Hotels Continue to Drive Negotiations

According to Jan Freitag, hotels—especially those with large meeting spaces—are still in the driver’s seat when it comes to negotiations. The upper-end hotel market is performing well, with cities like Dallas, Orlando, Las Vegas, Nashville, and Tampa seeing strong group business. These “Smile States” are popular due to their outdoor activities and abundant entertainment options, making them top choices for meetings.

Attendee Preferences Are Shaping Meeting Formats

Cvent’s Kell Kopec noted that attendees are increasingly looking for bleisure (business + leisure) opportunities, extending their stays to enjoy the destination. For shorter events, planners are starting meetings on Wednesdays to align with these preferences. Event schedules are becoming more flexible to enhance both professional and personal experiences for attendees.

Key Data Insights for 2024

• RFPs and Room Nights Are Up: RFP volume grew by 12%, and room nights increased by 21%, signaling strong demand for in-person events. Average daily rates (ADR) have remained stable.
• Planners Are Shopping Around: A significant portion of RFPs are now being sent to multiple metro areas to increase competition and secure better deals.
• International Meetings Are Returning: Global events are on the rise, with more than 115 countries sourced by U.S.-based planners, up 3% from the previous year.
• Flexibility is Key: Planners who offer flexible dates are seeing greater success in securing bookings, as 59% of suppliers reported turning down RFPs due to unavailable dates or space.

The Shift Toward In-Person Meetings

A key factor driving demand for meetings is the ongoing shift in office culture. Despite remote work trends, employees are eager for in-person interactions after years of virtual meetings. This “Teamed out” mentality is fueling the need for face-to-face events, providing a boost to group business.

Conclusion

In 2024, meeting planners must stay ahead of emerging trends—whether it’s navigating hotel negotiations, aligning with attendee preferences, or being flexible with event dates. By leveraging these insights, planners can ensure they deliver successful, engaging events that meet the evolving needs of attendees.