MICE News: Group business drives growth in hotel industry
A strong MICE market will drive a robust recovery in the hotel industry by 2024, according to two recent studies. Second quarter of 2024 Hotel Groups and Business Performance Index The results of the study combine indicators from meetings and events data provider Kowland and hotel booking data from travel industry technology provider Amadeus. According to the index, 22 of the top 25 destinations in the United States achieved an increase of 100% or more in overall MICE business compared to the same period in 2023. The top 10 cities are Las Vegas (117.9%), Seattle (117.6%), Nashville (114.2%), Detroit (110.2%), Houston (108.9%), Miami (108.2%), Washington, D.C. (108.0%), Philadelphia (107.4%), Tampa (107.0%) and New York City (106.6%). Key MICE insights from the index are as follows: The group's growth was strong, with the Northeast and Midwest regions leading the wayThe group index has achieved year-on-year growth for seven consecutive quarters, reaching 108%. The Northeast and Midwest regions performed well, with double-digit…
6 Industry Sales and Activity Trends
Amadeus, MPI and Salesforce reveal six key sales and events trends that will impact the industry by 2024 A new report Amadeus, Salesforceand International Conference Professionals The MPI combines global market data with insights from industry experts to highlight six key trends that will impact the hotel industry in the year ahead. Hotel Sales Stars: The Ultimate Strategy Playbookis designed to help hoteliers navigate the entire sales journey and capitalize on new opportunities, from prospecting to relationship building. The hotel industry is working to meet the growing demand for group accommodations in 2024, prioritizing strengthening customer relationships, enhancing new and repeat business development, and more effectively planning and executing group activities. Data from Amadeus Demand360 also shows that group travel is expected to continue to grow, as the number of rooms booked in June 2024 exceeded that of the same period last year. This positive industry momentum, coupled with changing guest preferences, presents opportunities for hospitality professionals to adapt their…
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