CONVENTION AND CONFERENCE center use of the Knowland data platform increased by 50 percent in 2023, according to Knowland. Groups now prefer relocating events to alternative markets rather than downsizing in chain scale for cost reduction, Knowland said, presenting non-hotel venues with an opportunity to compete for group business.
Knowland's recent meeting planner survey indicated that convention centers and non-hotel meeting venues are competing against hotels with an average meeting space of more than 20,000 square feet. Knowland data showed that these hotel venues dominate in the top 25 markets, with a ratio of over 2 to 1. On average, large hotel venues in the U.S. hosted 397 events in 2023, while non-hotel venues hosted 188 events.
“Booking groups is a complicated business with many moving pieces,” said Jeff Bzdawka, Knowland’s CEO. “There is also fierce competition among venues across all meeting sizes. We believe that finding that business shouldn’t be complicated. Data should be easily accessible and provide the right insight at the right time. We are excited to see the growth in our conference center business and look forward to working with these venues to ensure they have the market and account intelligence to capture event demand.”
Opportunities are present
Meeting planners seeking cost-effective alternatives are turning to convention centers for solutions, the report said. Larger meeting spaces now rely on data-driven analytics to manage demand fluctuations, analyze account behavior, and understand market trends for events with 25 or more attendees.
Conference and convention centers utilize data to capture event demand effectively, the report added. Insights into market trends, industry specifics, meeting sizes, booking history, preferences, competitor activity, and account intelligence are crucial for competition within their markets.
In January, Knowland reported San Diego's leading year-over-year growth in December meeting volume at 29.2 percent, closely followed by San Francisco at 21.5 percent, signaling a positive rebound in these key event markets. San Diego's healthcare events doubled, and pharmaceutical/biotechnology events nearly tripled from the previous year.
