Meetings + Events Post COVID (Meeting Planner Viewpoint)

There have been a lot of changes as the pandemic fog has lifted from our industry. If we’ve learned anything over the past couple of years, it’s that the only constant is change. And luckily, as planners, we’re innately built for that; it’s in our blood. But it doesn’t come without its challenges.

The good news is that we’re getting back to business, and demand has increased tenfold in the past six months. With that demand, though, the flexibility we’ve seen over the past couple of years seems to have dissipated. Some hotels are selling at rates over 40% higher than a few years ago due to that increased demand, paired with global inflation and lost pandemic revenues. We aren’t experiencing the same rate negotiations, flexible rebooking, or lessened cancellation and attrition that became the norm over the past couple of years. And to be frank, despite the increased cost of meetings, many properties still don’t seem to be adequately staffed, and many brands have implemented a lot of red tape in regard to contract terms. Because of this, it’s taking a substantial amount of time to execute and negotiate contracts.

Regardless of the increased costs and staffing shortages, groups are still excited to be meeting in-person. This excitement does come with a bit of fear in terms of how many attendees will be comfortable joining, which we’re seeing impact short-term bookings. The numbers are definitely on the more conservative side, but the silver lining here is that there’s minimal attrition slippage and more overflow blocks. When we look farther out, though, the amount of compression for 2023 and 2024 for large group bookings is increasing by the day, which is extremely promising for our industry's recovery. There are profitable roads ahead; I can feel it!