Meeting Planners Will Face Challenge of Rising Attendance Costs in 2018
Photo Caption: If you're planning to attend a meeting or event in 2018, expect to pay more to get there and stay there, say forecasting reports. Kellen Co.
Skift Take
When it comes to attending a meeting or event in the year ahead, it really is a seller's market. Meanwhile, travel costs for attendees and planners are on the rise. Buckle up for increased spending.
Thanks to a stronger economy and growing demand, the predominant trend for the meetings and events industry is positive growth for at least the next year, and even beyond.
"Economically, all the leading indicators that we rely on have remained largely unchanged, which translates into this continued, slow and steady growth," said Mike Wainwright, vice president of sales for Marriott's Convention and Resort Network. "The only difference we're seeing now from the previous cycle is a modest increase on the supply side."
Recovering From the Recession
The meetings and events industry has definitely rebounded from the 2008 economic crisis, said Phelps Hope, senior vice president of meetings and expositions for Kellen Co."It's been a slow climb since the global financial crisis. Not all segments grew at the same rate and not everybody has been profiting, if you will, from that growth. But now, as we look back seven to eight years on, we're actually thinking, 'Oh wow, we're closer to the
