September 14, 2022

August Meetings, Events Increase 136.1%

US Market Segment Breakdown

Knowland released its monthly meetings and events data for August, reporting 136.1 percent growth over August 2021. Additionally, August increased 6.7 percent over July 2022.

The average number of attendees per event for August 2022 was 108, compared to 68 in August 2021 and 92 in August 2019. The average space used in August 2022 was 2,670 square feet. Meetings in August 2021 averaged 2,490 square feet and 2,896 square feet in 2019. Proportionally from a per-person perspective, the 2022 meeting space used an average of 25 square feet per person as opposed to 37 square feet per person in 2021 and 31 square feet per person in 2019.

The top five growth markets for August (in order) compared to July were Denver; Dallas; San Jose, Calif.; Raleigh-Durham, N.C.; and Phoenix.

The corporate segment represents 63.5 percent of the meetings and events business, with healthcare, technology, and training/education taking the lead as the largest industry segments. From a recovery standpoint compared to August 2019 levels, online retailer, tobacco, construction, urban infrastructure and agriculture were the segments at the highest level of recovery captured in August of 2022.

“Typically, August experiences a minor dip from July," Knowland Chief Product Officer Kristi White said in a statement. "But August 2022 increased slightly, leading the way into September and October, two of the strongest months historically. Additionally, August recovered to 85.3 percent of 2019 levels, the third month in a row where recovery levels have exceeded 80 percent. This bodes well for the fall and ongoing recovery for the industry.”

Copyright 2022 Questex LLC. All rights reserved. From https://www.hotelmanagement.net. By Esther Hertzfeld.

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