The new 2013 edition of Trends in the Conference Center Industry report, published by the International Association of Conference Centres (IACC) shows clear signs of recovery, with its associated centres’ business "outperforming the broader hotel sector in relation to occupancies and profitability."
Demand for conference centres grew in 2012, according to the report, produced for IACC by PKF Hospitality Research, along with average rates. Executive style conference centres performed better than average, with an average delegate rate increase of 5% over the previous year.
Occupancy in executive conference centres grew 7.3% over 2012, said Dave Arnold, Co-President and Chief Executive Officer-East with PKF Consulting USA. "Our results this year indicate that a long-awaited recovery is taking place for those centres positioned to do so. Corporate meetings have proven to be the last segment of the market to claw back to some semblance of former glory."
Operating profits increased 14.5% during 2012, according to the survey, with the executive centres achieving the greatest increase in profit margin, increasing by 27.4%.
Mark Cooper, IACC’s CEO, said: "With improving margins and greater stability on the marketplace, we expect to see our members investing further in their conference environment for their clients. It will be our aim to provide our members with knowledge, trends and research to help them make the very best choices as they further develop their services and facilities."
