Knowland: U.S. meetings and events volume continues double-digit growth streak
May U.S. group meetings volume increased 28.4% over the previous month, according to data from Knowland. It was the fourth consecutive month that the volume increase reached double digits.
The company continues to see metric improvement as the figure for average attendees aligns with 2019 levels and meeting space used comes within 10% of 2019 values. Throughout the summer, Knowland forecast higher attendees and lower average space per person as meeting restrictions continue to be lifted. Increases in social and SMERF events are expected as are typical for the summer months.
- The average number of attendees in May 2021 was 65, compared to 64 in May 2019, aligning with 2019 performance.
- The average space used in May 2021 was 2,601 sq. ft. while meetings in May 2019 averaged 2,386 sq. ft. Average space used is continuing to decline as distancing restrictions are lifted.
- The top five growth markets in May were Indianapolis, New Orleans, New York, Philadelphia and San Diego.
- The corporate segment represents 58.9% of meeting and event business. The financial/banking segment enters the top markets for meetings with healthcare, training/education, technology, manufacturing and financial/banking as the biggest producers.
“Meeting numbers grew in double digits again in May,” said Kristi White, VP, product management, Knowland. “Attendees and size of space used is moving closer to 2019 numbers. This is one of the truest signs the industry is returning to normal. Additionally, the markets with the largest month-over-month growth are markets we haven’t seen in our top five list so far this year. This means growth is spreading across more markets. As we approach the summer, growth should continue. Further into the year, we expect metrics to get even closer to 2019 benchmarks.”