Despite Brexit uncertainty, meetings industry sees greater interest
As the Brexit deadline of October 31 approaches, the Meetings Industry Association (mia) which was anticipating a possible slowdown, reported that average Daily Delegate Rates (DDR) rose 3% from January to July compared to the same period last year.
According to the latest quarterly miaTouchstone report, which studies inquiry levels, number of meetings, and average daily and 24-hour residential rates of mia members, the average number of meetings held in the first 6 months of 2019 fell by 15% compared to the same period in 2018.
Inquiry levels continue to grow by 5%, but with a decline in the number of meetings actually taking place, mia is advising venues to be more innovative to ensure better conversion rates especially against a challenging economy.
Jane Longhurst, chief executive of mia, said: “We have seen a positive start to 2019, which reflects a reasonable level of confidence among our members. However, as we approach the Brexit deadline of October 31, it is likely that many organizations will be holding back on major events until we know the outcome, so venues are advised to look at innovative ways to convert inquiries and help them continue to ride the storm.”
The chief exec added: “Whatever the outcome of the Brexit negotiations, the mia will continue to support its members through its events program and by initiatives such as miaTouchstone that provides valuable benchmarking data enabling them to compare activity levels across the industry as well as among their peer groups.”
To help members to take a fresh look and increase conversions from inquiries, the organization is hosting a dedicated “Show rounds – the new world!” event on September 5 at Woodland Grange, Leamington Spa. To find out more about participating and receiving miaTouchstone, click here.