Growth in corporate budgets for meetings and events has significantly improved over the last 18 months, according to Conferences-UK, resulting in a 27% year-on-year uplift in sales revenue for the agency.
Booking enquiries for Q3 and Q4 of 2016 are strong, the agency reported.
Simon Thompson, director of Conferences-UK said: “Overall, the UK economy is more stable which has led to improved corporate performance.
“This has forged the way for recovery in the meetings and events sector and companies are once again allocating more budget to meetings, events and conference expenditure. Last year, bookings were up 11% on 2014 and on average, the number of enquiries and delegates per event rose. However, many meeting planners are naturally still exercising caution when it comes to confirming large scale events too far in advance.”
Conferences-UK says its free venue-finding service has received over 500 online customer reviews with a 97.3% positive feedback rating.
“Although the market is much improved, all expenditure is still scrutinised and meeting planners are seeing the value in using venue finding agencies for time and budget leverage. Many of the well-established hotel chains with which we partner such as Accor, Marriott and Hilton, have revised their growth strategy and invested heavily in their facilities, particularly in relation to technology, to adapt to the changing needs of the market, offering high quality at an affordable price,” said Thompson.
Conferences-UK has also teamed up with hotel chains, including Mercure, Double Tree by Hilton and Holiday Inn, to run a monthly competition throughout 2015 whereby every client who places an enquiry with Conferences-UK is automatically entered into a monthly prize draw to win dinner, bed and breakfast for two people in one of 17 partner hotels.