Arlington, VA-Portsmouth, NH – Group enterprise is important to resort restoration and for Vacation spot Administration Organizations (DMOs) and Conference & Customer Bureaus (CVBs) seeking to entice guests. For this reason Amadeus, a worldwide chief in hospitality know-how, and Knowland, a worldwide supplier of data-as-a-service insights on conferences and occasions for hospitality, are increasing their partnership to ship new information insights that may enable the {industry} to grasp key tendencies, measure efficiency, and plan for the longer term.
It’s the first time that occasion information equivalent to attendee numbers and the quantity of house being booked from Knowland have been mixed with group, negotiated, and GDS resort reserving information from Amadeus to provide each particular person and combination views of the important thing drivers of resort efficiency. The mixed insights delivered by the Hospitality Group & Enterprise Efficiency Index presents a singular overview of group journey exercise in the USA.
Key insights from the Q1 2023 Index are as follows:
- The brand new Index finds that the general ‘well being’ of the {industry} has reached 90% compared to the identical interval in 2019
- Companies considerably cleared the path forward of leisure occasions or weddings, accounting for over 66% of occasions held in Q1 2023. The highest sectors internet hosting occasions had been ranked as training, nationwide associations, know-how, and healthcare sectors, which collectively accounted for 54% of occasions
- The typical group measurement booked in Q1 2023 was 119 attendees
- 70% of occasions which have taken place had been for 200 attendees or much less
- The typical house booked in Q1 2023 was 3,093 sq. toes
- 91% of occasions have returned compared to the identical interval in 2019
The Index compares figures on a quarterly foundation to same-time efficiency earlier than the pandemic in 2019, rolling up the info to attain the general ‘well being’ of the {industry}. The Index additionally contains filters to view high occasion market segments and industries reserving group occasions, permitting hoteliers and DMO/CVBs to carefully monitor tendencies and adapt their enterprise methods accordingly.
As a gross sales intelligence firm, our power is in our skill to leverage development information to assist hospitality organizations higher perceive the shifts in at the moment’s market to enhance efficiency. Amadeus and Knowland have come collectively to construct a brand new, first-of-its-kind Index to allow customers to grasp the relative place of key enterprise drivers to allow them to make the most effective choices to develop income and asset worth. Jeff Bzdawka, CEO, Knowland
This partnership with Knowland demonstrates how our industry-leading enterprise intelligence information can help hospitality progress and restoration. The insights present a transparent snapshot of resort occupancy and reserving tendencies, together with data on which sectors are assembly, group measurement, and the scale of their assembly house. We felt it was vital to go one step additional with the Index by aggregating essentially the most subtle and in-depth information obtainable available on the market at the moment and mixing it in a manner that provides the {industry} a significant benchmark on the place restoration has reached. Our final objective is to provide hoteliers and DMO/CVBs all of the instruments they should develop robust advertising and marketing and income methods to extend their market share. Katie Moro, Vice President, Knowledge Partnerships, Hospitality, Amadeus
Entry the complimentary Hospitality Group & Enterprise Efficiency Index right here to study extra.
THE HOSPITALITY GROUP & BUSINESS PERFORMANCE INDEX METHODOLOGY
The Hospitality Group & Enterprise Efficiency Index makes use of a multi-factor weighting system that balances metrics equivalent to group, company transient, and GDS room nights with common day by day charge (ADR) efficiency. Progress or declines in ADR can offset room evening efficiency. Every issue is averaged to supply a last index rating, making certain a extra correct evaluation of general efficiency.
ABOUT KNOWLAND
Knowland is the world’s main supplier of data-as-a-service insights on conferences and occasions for hospitality. With the {industry}’s largest historic database of actualized occasions, 1000’s of shoppers belief Knowland to promote group smarter and maximize their income. Knowland operates globally and is headquartered simply exterior Washington, DC. To study extra about our options, go to www.knowland.com.
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ABOUT AMADEUS
Amadeus powers extra customized and genuine journey experiences. Our options are designed to counterpoint each stage of the traveler journey and assist hospitality suppliers purchase, service, and retain company by profitably driving demand and changing them into loyal followers.
Backed by over 30 years of expertise, we design open, cutting-edge software program to supply essentially the most environment friendly, trusted, and dependable methods for our clients. With specialists in 175+ international locations, now we have a deep understanding of the hospitality {industry} and a want to allow our resort companions to create memorable visitor experiences.
To seek out out extra about Amadeus, go to www.amadeus-hospitality.com.
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Kim Dearborn
+1 909 455 4316
