Sports Tourism Drives Las Vegas Year-over-Year Growth in Meetings for June with a 22.2 Percent Uptick
Louisville leads secondary markets with 72.73 percent year-over-year growth fueled by financial industry events
Knowland reported that Las Vegas took the lead in meeting volume growth with a solid 22.2 percent increase for June year-over-year (YoY). Ranked second, St. Louis, Mo. saw a 12 percent increase in YoY growth. This data is sourced from Knowland’s sales intelligence platform and designed to help hoteliers protect and grow their revenue base.
There was an increase in total square footage used and group sizes for both the U.S. Top 25 and secondary markets The average space used for meetings in the Top 25 markets was 4,127 sq. ft., with average attendees at 141, while secondary markets came in strong using 4,085 sq. ft., averaging 132 attendees.
- Top five markets by YoY growth in event volume – Las Vegas was again a popular meeting spot in June as sports entertainment jumped into the top five industry segments, primarily as a result of meetings related to the National Hockey League (NHL) draft. Las Vegas ranked as the highest growth market in the Top 25, averaging 8,297 sq. ft. and 282 average attendees. Below is additional insight into the top industry drivers for these markets.
- Las Vegas, Nev. (+22.2 percent): National Association, Sports Entertainment, Technology, Training/Education, and Wedding.
- St. Louis, Mo. (+12 percent): National Association, Wedding, Social Sports, Financial/Banking, and Charity/Non-Profit/Social Services.
- Nashville, Tenn. (+6.8 percent): Consulting, Health Care, Manufacturing, National Association, and Technology.
- Orlando, Fla. (+2.8 percent): Technology, National Association, State Association, Consulting, and Charity/Non-Profit/Social Services.
- Tampa-St. Petersburg, Fla. (+2.2 percent): Health Care, Wedding, National Association, State Association, and Training/Education.
- Top five secondary markets by YoY growth in event volume – Louisville, Ky. led in secondary markets, with event bookings increasing 72.73 percent and Financial/Banking meetings as the leading industry driver. The five high-growth secondary markets and top industries were:
- Louisville, Ky. (72.73 percent) – Financial/Banking
- Madison, Wis. (63.23 percent) – Financial/Banking
- Sacramento, Calif. (33.01 percent) – Charity/Non-Profit/Social Services
- Pittsburgh, Pa. (29.23 percent) – Manufacturing
- Norfolk-Virginia Beach, Va. (23.7 percent) – Charity/Non-Profit/Social Services
About the Data: This data is provided to help hoteliers still building momentum gain insight into the top locations selected by today’s meeting planners. This information about the leading industry drivers provides a clear picture of those groups that are returning to the meeting and event space. Insights presented result from the analysis of meetings and events data acquired through Knowland data collection and aggregation methods, including field reporting and automated methods of customer and non-customer data collection in primary, secondary, and tertiary markets, as well as its large historical database.
Categories: Trends