Significant Pick up in Demand for Conference Venues & Event Space – June 2021
Venues chain ETC venues reportedly took £1,000,000 in new bookings at their conference venues and event space in the days immediately following the government’s last announcement in May see HERE. This mirrors increasing demand seen by a range of other venues i.e. Confex International reported that venues had seen a 294% increase in event enquiries following the last announcement see HERE
Similarly Patch venues said “that its clients, which are mostly London-based venues, saw a large uptick in enquiries for both corporate and private events after the news, with some seeing increases as high as 550%.The majority of bookings were concentrating within Q3 and Q4, however most also saw interest as soon as the end of Q2, and as late as 2022. “
More recently we at Cavendish Venues are seeing a significant rise in both new enquiries and importantly confirmations. In the 2nd week of June 2021, we received the largest number of enquiries we have taken for well over a year now, 63! Perhaps more importantly last week more events confirmed (with signed contracts) than in any week for 3 years! (11 on Friday alone)
All of this indicates that demand is rising significantly, and with supply essentially fixed this will inevitably lead to increasing prices later this year and certainly in 2022. This is a trend we are seeing across the board, i.e. the Trade show market in the US is seeing a huge wave of investment, reflecting the pent up demand organisers are seeing, see HERE for an article int the Financial Times last week.
This mirrors trends seen in comparable industries i.e. The UK’s hospitality industry is forecast to exceed its pre pandemic turnover levels in 2022 see HERE. Visit England’s Consumer Sentiment survey further supports this, see HERE
At the moment there are lots of great great deals out there, see HERE for example. We would urge all clients to take advantage now as they may not last for long.
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