Knowland Reveals a Important Raise in Knowledge Utilization by Convention and Conference Facilities

Knowland introduced a major enhance of fifty p.c in conference and convention heart platform utilization in 2023. This speaks to the affect and significance of data-driven insights in staying forward of the competitors and rising income from the total vary of area sizes.

Knowland’s latest assembly planner survey revealed that teams usually tend to relocate occasions to different markets than transfer down in chain scale to cut back prices. This means a possibility for non-hotel venues to compete extra strategically for group enterprise.

• Common reserving comparability – Conference facilities and non-hotel assembly venues understand the significance of data-driven insights when competing with accommodations that common 20k+ of assembly area. Knowland knowledge exhibits that these lodge venues dominate within the Prime 25 markets, over 2-1. The common massive lodge venue within the U.S. booked 397 occasions in 2023, whereas the typical non-hotel venue booked 188 occasions.
• Alternatives for non-hotel venues – As assembly planners contemplate alternate locations and venues to handle assembly prices, conference facilities have a novel alternative to fill this want. Bigger assembly area places are turning to data-driven analytics to fill want durations, analyze account habits, and perceive goal market developments for occasions for 25 or extra attendees.
• Leveraging knowledge to seize occasion demand – Profitable convention and conference facilities are leveraging Knowland knowledge to seize occasion demand. Perception into developments by market, trade, and assembly measurement; reserving historical past and preferences; competitor exercise; and account intelligence are just a few of the vital insights they will apply to compete of their markets.

Jeff Bzdawka, CEO of Knowland, stated: “Reserving teams is an advanced enterprise with many shifting items. There’s additionally fierce competitors amongst venues throughout all assembly sizes. We imagine that discovering that enterprise shouldn’t be difficult. Knowledge must be simply accessible and supply the suitable perception on the proper time. We’re excited to see the expansion in our convention heart enterprise and sit up for working with these venues to make sure they’ve the market and account intelligence to seize occasion demand.”