FRANCE: Lagadere Group, the French media giant, has cancelled an annual meeting that was originally planned to be held in Dubai and then rescheduled for Hungary, as the economic slowdown continues to hinder C&I events across Europe.
Earlier this year the company had appointed DMC Net Travel Service Central Europe to handle the event in Budapest after scaling back original plans to hold the event in Dubai.
Scheduled to take place in June, plans for the original event would have seen 400 delegates from the company, including sales and management staff, attending a series of internal meetings at the Intercontinental Budapest and the Sofitel Budapest Chain Bridge. Other options explored included a gala dinner at Budapest's Opera House and a private dinner on board the Spoon Cafe & Lounge, a floating restaurant.
Now, the meeting will be held in the company's hometown in Paris and managed directly as a series of meetings without any overnight accommodation.
Net Travel Service international sales manager Didier Nicoux said: "This is a difficult time for most companies and corporate brand managers are having to be mindful of their budgets. This case is not an unusual for Central Europe - we are seeing far more events that are booked with shorter lead times and smaller budgets, and others which are being cancelled altogether."
Net Travel Service Central Europe has hosted events across Europe for a number of clients including Citroen, Coca-Cola, Tommy Hilfiger, PWC and Toshiba.