Visit London & C&IT produce MICE trends report

Visit London and C&IT have joined forces to produce the first-ever ongoing analysis into the capital’s MICE trends – the Business Tourism Monitor. The quarterly study reports year-on-year comparisons across three sectors: Hotel, Conference and Banqueting; Meeting and Event Venues; and Visit London Convention Services. The full report will be available exclusively on the Visit London and C&IT websites. The inaugural research covers data collected in the second quarter of this year from Visit London’s convention services and information gathered from the 40-strong Unique Venues of London portfolio, and compares growth from the same period in 2005. The key findings include:
  • The total number of events held in London venues held in the second quarter of 2006 has fallen by 6% compared to the same period in 2005. However, revenue gained from fees has grown consecutively for five quarters, indicating that clients are holding larger events more frequently.
  • Corporate business continues to dominate the nature of events held in London, however, its figures dropped from 65% in 2005 to 63% in 2006, while association business dropped 1% in the same period. Government business remained flat, while charity events increased by 1%.
  • Interest in London remains buoyant, with the number of enquiries topping 250 and increasing by 3%. Just over a third of these were converted into business.
Visit London’s commercial director David Hornby said: "Competition between venues can only be healthy. We have some prestigious small venues in the capital, which provide an exclusive, intimate setting for events. However results from the Business Tourism Monitor show that smaller venues need to work hard to attract more business and remain competitive." The report will build a picture of hotel conference and banqueting activity by collecting revenue data from a sample of 33 hotels across London that will be compiled by The Conference Bench. Formally launched in July, this data will be collated monthly, and will be available as comparable data in the next Business Tourism Monitor in January. To read the full report click here

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