Cvent report findings highlight positive momentum across the MICE industry across all regions
US-based software-as-a-service (SaaS) firm Cvent has released the latest editions of its bi-annual Cvent Planner Sourcing Report. The firm says that the report, which is based on responses from hundreds of event planners across various sectors, aims to help hospitality professionals attract corporate events and engage planners by providing insights into key trends that impact how event organisers source and select hotels/venues and manage their events.
According to the survey, 79 pc of planners in Australia and 67 pc in Asia predict a significant increase in the number of in-person meetings their organisations will hold in 2023. Across all regions, report findings highlight positive momentum across the MICE industry despite challenges like rising costs and staffing shortages, emphasising the opportunity for hoteliers to capitalise on the growing demand for in-person experiences.
The regional editions were published for Asia, Australia and the Middle East & Africa regions, says the firm. The survey finds that a large percentage of planners in Asia, with 80 pc, Middle East and Africa, at 85 pc and Australia, with 76 pc, anticipate paying more for similar-sized and complex meetings in 2023 than in 2022. As a result, the majority of planners also expect an increase in their event budgets with 90 pc in Asia, 88 pc in Australia, 79 pc in the Middle East and Africa, respectively.
The statement adds that this presents an ideal opportunity for hotels and venues to differentiate themselves by providing premium services and amenities that justify the higher costs. While planners are willing to spend more, the survey suggests that hoteliers should also focus on tailoring their offerings to meet the planners’ expectations and requirements, ultimately lead to increased revenue.
‘‘It is an exciting time for both event organisers and hoteliers as in-person events make a strong comeback around the world, and these findings further prove the opportunity that exists for hospitality professionals to grow their MICE business. By understanding evolving industry trends, adapting to changing planner preferences and embracing technology, hoteliers can attract the right leads and offer more tailored solutions to meet their clients’ expectations, which ultimately strengthens the partnership and drives more value. With the market in full bloom, hospitality professionals who recognise these opportunities and take action stand to gain the most,” says Graham Pope, Cvent Vice President of International Sales.
With the rise of digitisation, event planners are increasingly turning to digital resources to aid in their planning process. For example, the report says more than one third of planners across all regions say online sourcing platforms have become an essential resource for site selection.
In addition, with rising travel costs, in-person site visits are being replaced with digital online tours. Report results show that 54 pc of planners in Asia, 53 pc in Australia, and 43 pc in the Middle East & Africa utilise digital floor plans and online event diagrams to better understand meeting room capabilities and to determine whether the hotel is the right fit for their event. These results illustrate the growing importance of a hotel’s online presence to attract planners.
The report also highlights that existing relationships should be nurtured as event planners value professionalism and partnership in hotel staff with 38 pc in Australia saying it’s important followed by 35 pc in Asia and 26 pc in Middle East & Africa.
The statement adds that leveraging technology solutions that enable more seamless collaboration between planners and hoteliers, or that streamline complex processes like group room block management to reduce workload is another important way hospitality professionals can enhance their relationships with planners and further strengthen their reputation in the industry.
