When Will the Meeting Market Turn?
Excellent overview of leading and coincident economic indicators for our industry including:
Submitted By Anne Thornley-Brown from LinkedIn event Planning & Management Group
Anne Specializes in Facilitated Business Team Building Retreats, Executive Retreats, Sales Rallies, & Incentive Travel
1. Group bookings lag into and lag out of major recessions.
2. Smaller groups pose less risk than larger groups.
3. Mergers, acquisitions, and the vanished.
This trend indicates fewer large players, more small bookings, and slow going until at least 2011.
4. Commercial real estate loan defaults.
5. Look to the credit markets for guidance.
If and when credit is again made available to small businesses, and even to many large AAA-rated companies, then three to six months later, the booking pace will renew.
6. Unemployment and the stock market tell us little.
7. For coincident indicators, look at capital investment and consumer spending increases, especially for durable items.
This will tell you when the meetings industry recovery will begin, although it won’t tell you where, how big, or at what price. Those final factors are localized and are market specific.
Their Impact?
- Innovative companies will seize opportunity in 2010 and 2011.
- Group rates remain low until 2012.
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One Response to “When Will the Meeting Market Turn?”
Anne
November 21st, 2009
Hi Susan:
I just stumbled across this. The way in which it’s worded may give the impression that it is my comment. I don’t believe in taking credit for someone else’s work.
Here is the source:
“When will the market turn” by Tim Brooks
I had just given a brief excerpt when recommending his article and encouraging people to read it.
http://www.plannerwire.com/article_template.cfm?aid=1079&sid=30