The title that I choose to use for this month’s newsletter is called a ‘clickbait’. We have all fallen prey to this tactic. In my research, I learned that this ‘lure’ actually has a name which seemed a good way to introduce this month’s blog. The new year is such a great time to look down the road and get excited about what we will learn this year! As most of you know, you had me at ‘learn something new’.
For weeks we have read and then curated the meeting and hotel trends for 2015. With ten years of experience in this niche market, it is a good amount of tenure to look back and identify some cycles. As humans we love to find patterns, as it helps us understand. In being able to predict, we feel we have control. And I’m going to ascertain that those reading here have a strong need for control! Am I right?! Can I get a Woot! Woot!!!!
In 2005, the market was hot – there was a frenzy amongst corporate planners to book larger than life talent and pay handsomely for the experience for their delegates. The not for profit and NGO meeting sector had some challenges in that their corporate cousins’ business was often preferred as they typically paid higher bedroom rates. Then 2007 came around and brought with it ‘the crash’. We all began to learn the term ‘subprime mortgage’ and within months, North America was in what has been termed, The Great Recession.
Skip ahead ten years and now there seems to be a Phoenix about to rise from the ashes. The United States economic indicators are modestly showing some rebound which for those of us who share this continent, can mean the tides are rising and ‘all the ships’ along with it.
While it is great overall to see the ‘big machine’ coming back online, there are some challenges expected. First world challenges, no doubt, although I predict we will be doing more indepth searches to find ‘space and availability’. This trend started happening in the second and third quarter of 2014. The upside is that we have significantly increased our investment in the tools and technology to improve the search process making it easier to ‘cast the net’.
Trends will come and go while content will always be integral to the value. Hope you have found this read worth the click!