June 2010
Rentals and Staging
In This Issue:
Improving Business Conditions in the Meeting Industry
MPIRMC & RMPCMA Golf Tournament Photos
Denver Meeting and Events Industry - Upcoming Events
Image Audiovisuals Expands in Summit County!
Concerts For Kids' Community Day Was a Success
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Business Conditions Improving in the Meeting Industry
Things are looking up for the meeting industry, especially compared to June of last year, the peak of the national recession. Image Audiovisuals’ research on the pulse of the meeting industry reveals that business conditions in the meeting sector are greatly improved over a year ago.
MPI's April “Business Barometer,” a survey of senior-level meeting professionals is encouraging with 58 percent of respondents reporting that business conditions are "more favorable" this year than last year. Only 25 percent of respondents described business conditions as being “worse" than last year. In the February 2010 survey, only 43 percent of respondents described conditions as “more favorable” than last year. 65 percent of respondents expect conditions to improve even more over the next few months.
Starwood Hotels and Resorts - owner of 350 North American hotels, including Westin, Sheraton, Le Méridien, St. Regis, W, Luxury Collection, Four Points by Sheraton, Element and Aloft - is also reporting improving business conditions. Its meeting bookings have increased 30 percent this year from last year with cancellations remaining at historically low levels. It is reportedly targeting the improved meetings market since its customers seem less concerned about cutting costs. Starwood reports that the AIG effect - the fear of holding meetings at upscale hotels in fear of criticism - is diminishing.
Image Audiovisuals has also seen an uptick in business conditions this year as the economy continues to improve.
We would love to hear from you! Are you seeing more favorable conditions today than you were in June 2009? Please e-mail your responses to Dan Carrese at dcarrese@imageav.com and we will publish them in our July newsletter.
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