During Global Meetings Industry Day (April 11, 2024) we were again reminded of the power of Meetings, Incentives, Conferences and Events (MICE).
Destination Canada, the agency responsible for marketing Canada as both a vacation and business destination says in Canada MICE is a $47 billion sector! It represents 40% of all travel and tourism spending. Hoteliers I know say that MICE represents 40-45% of their business.
In the United States MICE is a $119 billion sector. What’s so powerful about this sector is how few decision makers are involved. One planner can buy out a hotel or city versus having to market to hundreds or thousands of individual travellers. I recently spoke with a planner for a library association. She had 7,500 delegates, 262 trade show vendors (approx. 600 more attendees) and 26 speakers. Her group hired a convention centre, 10 restaurants and 29 hotels!
To further illustrate how important MICE is to the hospitality sector consider that the Wynn Resort Las Vegas has 110,000 sq. ft. of casino space, but 560,000 sq. ft. of meeting space! That’s five times the amount of space for business events than gaming, which is what originally made Vegas famous and put it on the map. Markets evolve.
For example, most North American ski resorts have evolved into business meeting destinations. Baby Boomers scaled up skiing and tennis. However, as the Boomer demographic ages out of these sports, younger generations aren’t embracing them in the same numbers, which is why ski hills have seen as much as a 25% drop in downhillers. As a result resorts like Vail, Aspen, Whistler, Banff and Lake Louise have repurposed their properties and supporting infrastructure for business events. Banff/Lake Louise, for example, host over 1,500 corporate events a year! That brings in over 100,000 guests to these communities.
While we have the technology to meet virtually, after two years of COVID-enforced house arrest people are anxious to meet face-to-face. Business event registrations are soaring. Demand for space and dates is so high that planners are having to expand their meeting year. At the start of 2023 the industry had moved from talking about “recovery” to “growth”.
So not only do we have higher attendee and corporate demand to meet, we have a generation of new buyers. At Global Meetings Industry Day and at Meeting Professional’s World Education Conference in Mexico in May we were reminded that post-pandemic two-thirds/66% of meeting planners are new to the industry. A third of travel agents are also new.
This volume of new-to-market buyers means the bulk of decision-makers don’t know most destinations, hotels, convention centres or off-site venues. Long-standing relationships are broken, so it’s critical to have accurate and detailed information available to help planners and clients zero in on places and properties which can work for their event. There is a great need for education about your place, property and product. How well are you supplying that education?
As ever, too many hotel and supplier websites are failing to provide the information planners want and need. Platitudes are offered in lieu of detail. Or websites contradict themselves.
At Destination Doctor I audit websites to hone the messaging and details so that it works for the buyer who may be working on a proposal on the road, late at night or on a weekend. Turn around on web audits is fast, works within your existing format (no expensive redesign required) and affordable – no invoice has exceeded $250.
To inquire email nscelt@hotmail.com with web audit in subject line. Or text 902 476 7891.