The 2013 London Venues Business Report, published 11 October, has detected a decrease in the use of discounting and in the use of added value by the capital’s venues. Ninety-two per cent of venues surveyed offer a wireless connection to delegates, with 80 per cent of these offering a free service.
Being flexible with minimum numbers has also been attributed to winning 7.8 per cent of business by the venues surveyed. Nearly three-quarters (73%) also planned to make capital investments in 2013.
The report was commissioned by Unique Venues of London (UVL), The Westminster Collection (TWC), The Conference Bench and the London City Selection and surveyed 110 tourist attractions, leading venues and hotels across the capital.
Other key findings from the report include:
- A positive post-Olympics feel, with 94% of venues expressing optimism, and an increase in smaller or more intimate events booked
- A continued trend of short lead times for large, medium and small events, with events valued at more than £10,000 possessing a lead time of 5.7 months, and events with a value up to £5,000 – 2.8 months
- 63% of venues surveyed predicted positive growth in 2013 versus 2012
- Weddings and private events in general have seen overall growth
- Day delegate rates (DDRs) have been used to offer price flexibility, with the maximum level of discounts varying between 21% and 38% (Note: only 57% of venues offer DDRs)
- 40% of venues surveyed do not flex their prices in high or low demand periods
- Of the venues that use social media, 99% use Twitter to engage with potential customers
- Online communications methods are in the top three most popular sales methods for building relationships, along with direct sales and word of mouth.
A statement issued by the organisations sponsoring the report reads: “Discovering such interesting results last year meant we were all keen to team up again in 2013. We are pleased that there are so many positive results in this competitive market – and proud of the fact that we are able to display them in a way that is so valuable to the industry”.
The 2013 London Venues Business Report is priced £95. Contact email@example.com
Do you have news for CN? Email: firstname.lastname@example.org