HBAA hails promising trends and positive outlook for 2019
Average spend per meeting increased in 2018 while lead and conversion times came down year on year, according to the HBAA Meetings Barometer Report for 2018.
HBAA chair Angie Mason hailed the findings of the report, saying that “promising trends provide good reasons for a positive outlook on 2019”.
The report, developed in partnership with The MeetingsBenchmark Ltd. indicates that the average spend per meeting increased again from £1,954 in 2017 to £1,971 in 2018, an increase of almost 1 per cent. However, the average spend per delegate went down slightly from £88.35 in 2017 to £85.71 last year, a decrease of 3 per cent.
While the average day delegate rate (DDR) rose imperceptibly from £32.88 in 2017 to £32.89 last year, the average number of delegates also increased slightly from 53 to 54. With the average size of meetings booked to date for 2019 currently 72, forward prospects so far this year are encouraging.
There were also positive indications in the reduction of lead and conversion times. The average lead time for forward booking of events went down from 83.5 days to 79.7 days while the average conversion time went down slightly from 19 days to 18.5 days,
The HBAA Meetings Barometer also reveals a wide range in the average DDR across the country. There is a major difference between London (£39.97) and Newcastle (£24.91) with Manchester (£31.92), Birmingham (£29.87), Scotland (£27.54), Bristol (£27.51) and Leeds (£26.56) between them.
Angie Mason, HBAA chair said: “The HBAA Meetings Barometer once again provides a fascinating snapshot of the market and highlights several good reasons to be positive and optimistic about the year ahead.”
Mason was unveiled as HBAA chair in January. marking her second stint in the role. More than 320 members and guests attended the HBAA’s annual dinner at the Park Plaza Victoria London, where an auction, raffle and donations helped raise £27,000 for 2019 chosen charity Buses4Homeless.
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Published Date: 01/03/2019