The City of London’s venue consortium, London City Selection (LCS), has revealed that 75% of their 29 venues have reported an increase in business over the last year.
Of those questioned, 69% of venues reported an overall rise in meetings and events held during 2016 with 56% reporting a growth in Christmas parties, 19% recording an increase in summer events and 44% reporting a rise in the number of weddings hosted, underling the widespread versatility and appeal of the unique, modern and heritage venues that make up the collection.
When asked to review their business channels, the survey revealed that direct corporate bookings represented 81% of all member venue business in 2016 with only 6% of venues’ business coming via agencies. With direct marketing and networking continuing to drive referrals across the collection, some 62% of members confirmed securing business as a direct result of being part of the LCS consortium. In addition, 80% of venues reported to have confirmed business through the LCS website and 40% as a result of LCS’s networking and agency events.
London City Selection chair, Oliver Hargreaves said: “While 75% of our members join LCS for sales generation, more than 80% of our venues cited the sharing of knowledge, best practice and general support they enjoy as a result of the consortium as the key driver to repeat membership, demonstrating our value to the wider market.”
Paul Martins, director of sales at Cavendish Venues, a member of LCS since 2010, added: “Last year alone we received over 130 enquiries through the LCS website portal which, in addition to our joint events generated in excess of £90,000 of confirmed bookings, so the network provides us with a vital source of revenue. While we have a robust marketing strategy in place ourselves, being part of a consortium like LCS allows us even greater visibility in the market and access to a wider pool of event organisers who are specifically attracted to the square mile. It’s a valuable investment for us.”