A survey of events and hospitality professionals across the UK has revealed a mixed picture of industry performance with average meetings spend rising slightly but delegate spend going down.
Overall, the HBAA, the trade association for the hotel booking agency, apartment and venue community, claimed that findings from its annual Barometer report reveal “positive” trends for 2019 as lead times for booking meetings came down from 83.5 days to 79.7 days while the average conversion time went down slightly from 19 days to 18.5 days.
The report, developed in partnership with The MeetingsBenchmark Ltd. indicates that the average spend per meeting increased again from £1,954 in 2017 to £1,971 in 2018, an increase of almost 1 per cent. However, the average spend per delegate went down slightly from £88.35 in 2017 to £85.71, a decrease of 3 per cent
While the average day delegate rate (DDR) rose imperceptibly from £32.88 in 2017 to £32.89 last year, the average number of delegates also increased slightly from 53 to 54. With the average size of meetings booked to date for 2019 currently 72, forward prospects so far this year are encouraging.
There were also positive indications in the reduction of lead and conversion times. The average lead time for forward booking of events went down from 83.5 days to 79.7 days while the average conversion time went down slightly from 19 days to 18.5 days.
The HBAA Meetings Barometer also reveals a wide range in the average DDR across the country. There is a major difference between London at £39.97 and Newcastle – £24.91 – with Manchester £31.92, Birmingham £29.87, Scotland £27.54, Bristol £27.51 and Leeds £26.56 between them.
Angie Mason, HBAA Chair, said: “The HBAA Meetings Barometer once again provides a fascinating snapshot of the market and highlights several good reasons to be positive and optimistic about the year ahead.”
To download the full report, please click here