Group business is critical to hotel recovery and for destination management organizations (DMOs) and convention and visitor bureaus (CVBs) looking to draw visitors. This is why Amadeus and Knowland have expanded their partnership to deliver new data insights that will allow the industry to understand key trends, measure performance, and plan for the future.
It is the first time that event data such as attendee numbers and the volume of space being booked from Knowland have been combined with group, negotiated and GDS hotel booking data from Amadeus to give both individual and aggregate views of the key drivers of hotel performance. The combined insights delivered by the “Hospitality Group & Business Performance Index” presents a unique overview of group travel activity in the United States.
Key insights from the Q1 2023 Index are as follows:
- The new Index finds that the overall “health” of the industry has reached 90 percent in comparison to the same period in 2019
- Corporations significantly lead the way, ahead of leisure events or weddings, accounting for over 66 percent of events held in Q1 2023. The top sectors hosting events were ranked as education, national associations, technology and healthcare sectors which together accounted for 54 percent of events
- The average group size booked in Q1 2023 was 119 attendees
- 70 percent of events that have taken place were for 200 attendees or less
- The average space booked in Q1 2023 was 3,093 square feet
- 91 percent of events have returned in comparison to the same period in 2019
The “Hospitality Group & Business Performance Index” compares figures on a quarterly basis to same time performance before the pandemic in 2019, rolling up the data to score the overall “health” of the industry. It also includes filters to view top event market segments and industries booking group events, allowing hoteliers and DMO/CVBs to closely track trends and adapt their business strategies accordingly.