Overall, the company’s data shows a year-on-year rise in average lead times of 15%, from 94 to 108 days.
According to director Paul Moynihan, this rise can be attributed to continued economic growth and greater market confidence. "That said, there has been a noticeable fall in average booking value, down nearly 12% to £5,350. While talking to a considerable number of regular clients who have previously made large enquiries (£20,000+) at this time of year, many are suggesting that decisions on holding bigger events are being postponed until we know whether or not the UK will choose to Brexit."
He added that if the UK does leave the EU, the country would be in for ‘a rocky few years’. "We’re actively encouraging customers to engage in venue searches, ideally at least four months before smaller events and ideally ten months out for larger ones. With more and more joint first options and stricter deadlines in place, it’s crucial that planners are starting the booking process sooner to avoid disappointment."
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