Picking up our Global Meeting & Incentive Travel Exchange Buyer Q&A series, Meeting Spotlight recently spoke with Tricia Garrett, vice president of business development for StageOne Events, an event management firm offers event production, marketing solutions and management services. Garrett shared what the top trends are at the company, as well as how she handles potential staffing shortages at venues.
What are some trends in the meeting and incentive industry that you have seen in recent months?
There are a few trends we have been noticing:
- Spend per person/per incentive trip is up about 18 percent! This is clearly great news for everyone involved.
- Caribbean and Mexico destinations continue to be destinations of choice as they are close enough to the U.S. and yet feel as if our clients are "getting away."
- Length of trips has increased by one night with the average being four nights versus three previously.
- Where our timelines pre-COVID were 12 to 24 months out, we have seen a 33 percent increase in shortened planning, now being four to eight months out.
- Companies previously doing one retreat or incentive trip a year have pivoted to two trips per year for 50 percent of our clients! Another win for all.
Will this last?
I certainly hope so, but I think many factors will come into play, namely the recent school shooting, COVID cases on the rise, Roe v. Wade, potential recession, and housing climate. I can only speculate as these items are farther out of my pay grade.
As the global hospitality industry recovers, there are lasting impacts, including hiring challenges and closures within the destination and service-level changes. Given these challenges, what are your plans and expectations for your programs moving forward?
When sending our RFPs—especially for our last-minute clients (less than eight months—we are really trying to ascertain their staffing and the challenges they currently have. Often, we will head to job boards to see their hiring needs. As you can imagine, they are not always transparent. Additionally, we try to work with venues we have long-standing relationships with.
Have you used the past two years to develop new strategies for the future? If so, what have you developed?
Truth be told, our business has not really changed in the past two years with the exception of having to lay a few people off. We have been primarily focused on being lean and keeping and growing our client list.
What are the most important elements you look for when securing a supplier or venue?
- Location
- Location
- Location
After that: Budget and services, amenities and aesthetics.
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