Conference News May 2021 - Page 44

44 Venue data

MARCHING FORWARDS

Peter Heath , founder of Venue Performance , says that a 400 % surge in confirmed bookings for March is the tonic the industry needs
n last month ’ s article I looked back at February ’ s figures and while rejoicing in the Government ’ s announcement about the industry being given the green light ( but not until 21 June ), we also cautioned about the journey ahead . However , the numbers are the numbers , and I ’ m pleased to be able to report that during March , event bookings ( actual contracts signed ) rose by nearly 400 % ( Fig 2 ).
Now , let ’ s be clear : 400 % sounds
impressive , and it is , but the start point is from a very low base indeed . Pretty much zero to be accurate but the numbers don ’ t lie and during March , the line heads upwards quite steeply and that is something to rejoice about .
So , let ’ s take a look at the numbers and see what devils we may find in the detail . We have over 20 reports that we use for our insight at Venue Performance , and if you are a user you can access all of them . But
Christmas – lead time ( Fig 1 ) for the next few months and for the purpose of monitoring our industry ’ s return , we ’ re going to focus on two key reports .
First , the Bookings Report : this shows the average number and type of events that were booked at each venue during any given period . We ’ re looking at the March period .
Secondly , the Booking Trends Report : this focuses on when those events are booked for , also known as ‘ lead time ’.
Probably the most anticipated types of events are conferences , summer parties and Christmas parties . That is where we will focus our attention this month .
Conferences , normally , are big in volume , size and cash . They are also a key indicator of market mood . A good old-fashioned bellwether .
Conferences The numbers are good but not as good as we would have liked . But let ’ s be honest , we probably knew that these would take a while to come back .
Bookings for March have gone from 0.4 in January , 0.7 in February and to 1.9 for March . That ’ s a four-times multiple from January and a nearly three times multiple for February . So most definitely on the up but as I said previously , a low base and low volume so let ’ s not get too
Banqueting Party Reception
Sep 2020
Oct 2020
Nov 2020
Dec 2020
Jan 2021
Feb 2021
Mar 2021
Apr 2021
May 2021
Jun 2021
Jul 2021
Aug 2021
Sep 2021
Oct 2021
Nov 2021
Dec 2021
Jan 2022 www . conference-news . co . uk