£17.4m in Olympics bookings fuels optimism among London venues

The majority (87%) of London venues believe that the London 2012 Olympics will have a positive impact on the conference and meetings market in 2013 and beyond, according to a survey.

£17.4m in Olympics bookings fuels optimism for 2013 among London venues
£17.4m in Olympics bookings fuels optimism for 2013 among London venues

The 2012 London Venues Business Report - commissioned by The Westminster Collection (TWC), Unique Venues of London (UVL) and The Conference Bench - also revealed that 51% of venues think that the Games will improve their 2012 full-year forecast, with nearly half of them predicting revenue increases of up to 30%. Overall, £17.4m of contractual bookings have been made for the period of the Games.

Meanwhile, 67% of venues said they were achieving average day delegate rates of £80-plus in 2012, compared with an average of £52.31 in 2011.

A joint statement from the three firms behind the research said: "Traditionally TWC, UVL and The Conference Bench carry out their own individual annual surveys, but we felt that this year pooling our efforts would create a new-style report with much more comprehensive data.

"The London Venues Business Report provides in-depth information from a whole range of London event spaces, including one of the most comprehensive reviews of London’s Olympic Games business yet to be released. We hope to replicate the survey in future years and make the London Venues Business Report a must-read industry survey."

The research was conducted among 100 venues, tourist attractions and hotels across the UK capital.

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