The FICP Fall 2019 Pulse Survey found continued indicators of stability across the meetings and events industry, with similar numbers of respondents reporting no changes anticipated to the size and number of business meetings, a similar business outlook by hospitality partners for the first half of 2020 and continued slowdowns in cost increases in F&B costs and room rates.
This Pulse Survey also included questions about respondents’ role in developing and executing risk management plans, use of sharing economy platforms and influential factors in the selection of a venue.
Download the full Fall 2019 Pulse Survey report or view highlights for each audience below.
Meetings Professional Findings – Fall 2019 Pulse Survey
While there was a slight increase in those reporting an increase in the size of business meetings being planned as compared to Spring 2019, the majority of respondents anticipate no change to the number and size of business meetings being planned (54% and 63%, respectively). More increases were reported at insurance-only companies than other company types.
About the Meetings Being Planned
More than half of meetings professionals (54%) contribute to the development of risk management plans and protocols for meetings and incentives, and one third (33%) play a lead role. The most frequently cited internal and external resources who contribute to the development and execution of risk management plans were internal security (59%), legal counsel (43%) and hotel partners (41%).
As with past surveys, the majority of meetings professionals noted they are not using sharing economy platforms (ex. Uber/Lyft or Airbnb) for meetings and events (64%). For those who are not using, more cited other reasons than risk management or liability concerns. Fifty-three percent of those who are using these platforms are not taking measures to address liability concerns.
Other Meeting Planning Trends
- Nearly two-thirds (63%) do not have group travel insurance/event cancellation insurance for meetings and incentives in the event of disruptions when force majure doesn’t apply.
- The most influential factors in the selection of a venue once a hotel or destination is booked are uniqueness/”wow” factor, event/meeting objective, and proximity to hotel.
- While 47% of meetings professional respondents indicated they were adjusting 2020 event budgets in light of discussions around a possible economic slowdown, 39% were making no changes.
Hospitality Partner Findings – Fall 2019 Pulse Survey
Similar to 2017, 42% of hospitality partners expected business to increase in the first half of 2020, and 47% expected business to remain the same. Fewer respondents anticipated business decreases in first half of 2020 than did those anticipating decreases in the second half of 2019.
About their Clients’ Meetings
While fewer hospitality partners reported changes to 2020 client events in light of discussions around a possible economic slowdown, more reported no change than anticipated adjustments.
Fewer hospitality partners reported that clients are not using sharing economy platforms than their meetings professional counterparts (56% vs. 64%), however, similar to those colleagues, more hospitality partners cited reasons other than risk management or liability concerns for reasons the platforms were not being used. Nearly all (94%) of those who had clients using sharing economy platforms were not involved in any measures to address liability concerns associated with the use of those platforms for client meetings and events.
Trends Impacting Buyers
With regard to trends buyers should be aware of in the next 12-18 months, the number of hospitality partners reporting increases to room rates and F&B costs continued to decrease in Fall 2019, making this the third consecutive Pulse Survey where this was the case.
Other Business Trends
- Half of hospitality partners (50%) reported no role in developing risk management plans or protocols related to client meetings and incentives, and the majority of their clients (65%) are not asking about risk management/crisis contingency plans.
- Seventy-three percent reported no impact to their businesses from sharing economy platforms, and for those being impacted (the other 27%), 73% indicated the share of business being impacted us under 10%.
About the Fall 2019 Pulse Survey
In October 2019, meetings professionals and hospitality partners within the FICP community, were invited to take the fall 2019 survey to share their experiences on trends and conditions impacting their work. As with its previous Pulse surveys, FICP can now provide benchmarking with past-survey data. Download your full copy of the Fall Pulse Survey report for additional insight from your peers, and stay tuned for future Pulse Survey invitations.