We’re staring at the first anniversary of the COVID-19 pandemic lock-down on the horizon, and our industry remains in flux. Sure, everyone has pivoted as best they can, moving to virtual and hybrid events as programming and timing would allow. Aside from more of the same, what else can we expect to see this year? Our friends at Successful Meetings broke it down.
Limited-Service Hotels
Industry research shows that while business remains markedly down in upscale, full-service hotels, bookings in limited-service properties are still selling more than half of their inventory. As corporate travel and convention/conference travel plummeted, so did the occupancy in larger hotels that focused on those markets. Group booking requests are beginning to rise, but the migration of business is toward the chain-scale segment, which is experiencing more activity than other segments.
Plant-Based, Health-Conscious Menus
We are what we eat, and the global pandemic has shone a light on the role food and nutrition play in keeping immune systems strong and people healthy. Tracy Stuckrath, a food safety and allergies expert, told Successful Meetings, "People are really homing in on the overall wellbeing of what they're eating because of Covid-19. So, we need to think about how we can make the food better and more nutritious than we have in the past. Eating healthy improves your immune system, and that's what we all need right now. We need to be healthier so that we can come back stronger."
Technology for Safety-First Approach
Wearable Bluetooth-enabled devices are gaining a new purpose focused on health and safely. Rather than just pushing marketing alerts to event attendees, they’re being used to indicate when someone is within a wearer’s social-distancing bubble. For example, safety-technology provider Proxxi makes a device that not only vibrates when attendees get too close, but also keeps records of the interactions — ideal for contact tracing should anyone test positive after the event.
Shifting Pricing Models
While every segment of the event industry has felt the effects of the pandemic, destination management companies (DMCs) have been – and will continue to be – particularly vulnerable. Theirs will be just one of many changing pricing models. Currently, DMCs invest a significant amount of time and resources to planning an event. If an event is postponed or cancelled, the DMCs if left with no revenue or reimbursement of funds laid out in advance. Expect to see a rapid restructuring of how those companies contract with clients not only to reflect the value of the time spent leading up to an event, but also to recoup hard and soft costs incurred.
Successful Meetings hit the nail on the head when it suggested that we all have more questions than answers about what's ahead for our industry. We couldn’t agree more. So much depends on how the pandemic evolves, and leaves us all facing a lot of unknowns. One thing is for sure: Humans are sociable and miss getting together, and once it is safe to do so, business will come roaring back. We just need to continue to adapt as needed and hang on until that time. eventcore stands with you, and will help to support your event, no matter the unknowns.