Consolidation is something that seems to be happening, well, everywhere.
Only last week, for example, we got news that Disney would be buying most of 20th Century Fox. And for those of you who follow the hospitality industry closely (as I do), it does not need mentioning that recent mega mergers took place between Marriott and Starwood, and then AccorHotels and Fairmont-Raffles-Swissotel.
While those two mergers are having an impact on the meetings industry, the sector itself is dealing with another type of consolidation, as Business Travel Editor Andrew Sheivachman details in a story this week. Aided by technology and new ways of thinking about how to do business, the integration of travel management and event spending departments within corporations is showing great potential. One caveat is the concern that the industry’s reliance on old-school thinking might get in the way.
On another subject, my colleague Andrew will be back in the new year after taking a well-deserved holiday, which I hope you will, too. Our next edition of the Meetings Innovation Report will resume in January. Until then, my warmest wishes for a wonderful holiday season, and for a great start to 2018.
— Deanna Ting, Hospitality Editor
The Future of the Meetings Industry
Travel Management and Event Consolidation Is Edging Out Departmental Turf Wars: Convergence is trending among travel and event departments at big companies. Fueled by technology, it will only become more important to both sectors in the future if old-school thinking doesn’t get in the way.
Cashing In on the U.S. Experience Economy: McKinsey thinks we can expect a lot more private equity investment in experiences and events going forward.
In the News
The Body Trade: I always knew medical meetings were a big business for hotels, but I didn’t realize to what extent until I read this disturbingly detailed piece.
$59.8M Design Contract for Las Vegas Convention Center Approved: If it weren’t already clear that meetings mean a lot of business to Las Vegas, this deal certainly cements that idea to the tune of nearly $60 million.
Best of 2017: The News Stories That Transformed the Event World This Year: BizBash looks at how the inauguration of President Trump, the fall of Harvey Weinstein, a slew of natural disasters, and more changed the tone and substance of events this year.
BCD Meetings & Events Acquires Grass Roots Meetings & Events: … And the consolidation continues.
Skift Business Travel Editor Andrew Sheivachman [firstname.lastname@example.org] curates the Skift Meetings Innovation Report. Skift emails the newsletter every Wednesday.