14 February 2008 | Jake Kanter
Escalating rates for meeting and corporate events venues will prove the biggest challenge for buyers who specialise in the area this year.
According to the 2008 HBI Meetings Industry Report
, 88 per cent of meetings buyers said the increase in the cost of venues would be their biggest challenge.
But it also found budgets are being managed more efficiently and buyers expect more for their money, thanks to the increasing influence of professional procurement. Nearly a quarter of purchasing departments are now involved in buying decisions, a rise of 13 per cent compared with last year's survey.
The study said that while city centre hotels remain the most common choice for events, specialist conference centres are becoming increasingly popular. It also found that 69 per cent of conference business comes from the region in which the venue is situated, attributed to procurement's greater focus on sustainability.See What's on the agenda