45 Venue data
DATA
Now for the detail . Firstly , and like a stuck record , a note of caution is sounded : the volume is still low . Just like last month , percentage increases are big , with a 34 % increase in booking volumes ( number of events booked ) over March . But going from an average of 2.76 per venue to 3.69 is not exactly cause for celebration , though certainly a cause for optimism .
That 0.93 , or 34 %, increase won ’ t pay the bills . The consensus is that we will gladly take their money and their confirmations in the hope that the trickle will turn to a flow and then a torrent .
Which events are being booked ? Interestingly , most of the B2B categories are consistent , which is yet more good news . Most things are pretty much the same in terms of volumes ( apart from a small increase in conferences ) but there has been a spike in the reception events . From zero in March to a comparatively whopping three on average in April is a massive jump and it looks like that is what has contributed most to the rise in April ’ s numbers .
It ’ s all very well taking bookings and signing contracts , but let ’ s be honest , at the moment , the contracts favour the client , and quite massively so . Although they are a welcome sight , the client can still cancel at the drop of a hat and the poor old venue will be left holding the baby . So , what we really want to know is when ? When will these events come back , when can venues get their hands on the cash ? This is when things get a bit trickier . We are reliant on the Government ’ s green light and even that will be ( understandably ) very last minute .
The 21 June so-called re-opening date is what we are waiting for , but we won ’ t know if that ’ s a goer until around 14 June . That means that our clients are not exactly chomping at the bit to hold events immediately . Some will be , clearly , but if the industry is going to bring people back from furlough , we do need to see the intent . So , what do we see ? If we look at the Booking Lead Time chart ( Fig 1 ), we can see that the timings of the booked events are still nicely balanced across the last quarter ( not too much until then ) and then some brave folks are booking for next year . Not in massive volumes but again , the intent is there .
What we are looking for here in this chart are steep gradients . Steep means a rush of timings all heading for the same date . A gradual gradient suggests inconsistency and so more randomness . As you can see , the last quarter of the year is when the bookings are at their most consistent whereas into the new year , it ’ s too early to tell what patterns are emerging .
“ Banqueting was the surprise entrant last month and corporate receptions is the surprise entrant this month .”
Too little data , too few events and too spread out in terms of the event type .
Bookings are up To conclude , then : bookings are up and the consistency is beginning to emerge , albeit in small numbers .
Banqueting was the surprise entrant last month and corporate receptions is the surprise entrant this month .
These two event types suggest that social is at the heart of events being booked and that chimes with the sentiment of us all , doesn ’ t it ? We all want to meet and hug and embrace again and that includes businesses .
And what better way to do that is by holding an event ? How heart-warming it is to see that as soon as restrictions allow , companies ( as well as private ) want to meet once again . Was there ever any doubt ?
If you would like more detail on any of the above numbers and more than 20 other data sets and reports , please contact : peter . heath @ venueperformance . com
Above : Peter Heath www . conference-news . co . uk