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Event & Hospitality Industry Trends for 2018 & Beyond
The document summarizes trends observed in the events and hospitality industry for 2018 and beyond. Key trends include hospitality companies reducing commissions on group bookings and pursuing direct booking campaigns, continued consolidation across the industry, new forms of travel changing consumer behavior, emerging technologies like AI and blockchain disrupting legacy systems, a focus on customer experience and diversity, and the growing importance of events for driving business outcomes. The events planning profession is also poised to receive more attention and respect.
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Event & Hospitality Industry Trends for 2018 & Beyond
- 1. Event & HospitalityIndustry Trends for 2018 Dan Berger Founder, CEO Social Tables and beyond
- 2. Audience/Presenter Contract You canshare everything you see (#CS2018) & ask me questions on Twitter (@danberger) No need to take notes! I can send you the deck straight to your inbox if you give me your card. Your time is valuable so feel free free to leave any time. ⏰
- 3. ● Event planner. ●Event participant. ● Event supplier. About Me
- 4. Social Tables ata Glance Founded: 2011 Headquarters: DC Employees: 100 Funding: $23M A platform to create and manage outstanding events. End-to-End Platform Marketing Sales Operations Execution Collaborative event planning products for hotels and venues, planners and vendors The Industry Leader 4,900+ customer accounts with tier-1 hotels and venues, planners and caterers Suppliers Corporate Planners Vendors
- 5. Event SalesEvent DistributionEvent Services We Offer 3 Events Platforms
- 6. Out Now: FreeTools for Planners ● Free diagramming, seating and check-in products for planners at socialtables.com/planners ● Free search engine with access to thousands of floor plans at search.socialtables.com
- 7. ● Event planner. ●Event participant. ● Event supplier. About Me ● Event believer.
- 8. Sample of the40+ awards Social Tables and its leadership have received. We envision a world where every face-to-face event achieves great things.
- 9. ● Hospitality powerhousesare going after the industry’s third rail ○ Marriott to reduce agent commissions on group bookings by 30% ○ Hilton CEO believes direct booking campaign is key to improved guest experience ○ Hyatt plays hardball with Expedia over contract negotiations ● Consolidation continues in every corner of the industry ○ Supply-side: Wyndham to buy La Quinta for $2B ○ Buy-side: AmEx Global Business Travel (#3) agrees to buy Hogg Robinson Group (#6) ○ Vendor-side: PSAV expands into global trade show market with Hargrove acquisition The Industry is Changing in Front of Our Eyes
- 10. What macro-trends haveyou observed?
- 11. Rules of theRoad ● Trends, backed by data. ● Micro-predictions built off of those trends. ● Predictions are generally sorted by happening now to will happen later. ● Big macro trend.
- 12. The industry’s powerplayers are more financially sophisticated than ever. New JLL report examines global hotel investment trends
- 13. ● Owners willdemand higher profit margins. ● Prices will increase due to consolidation. ● Commissions on group business will drop significantly. ● Private equity will enter the events industry. The industry’s power players are more financially sophisticated than ever.
- 14. There will beseismic shifts to the industry’s structure.
- 15. ● Remote destinationswill compete with traditional ones. ● Homesharing will add inventory in every corner of the globe. ● Autonomous vehicles will unlock new destinations. ● There will be CVBs for virtual destinations and sales reps for virtual venues. New ways to travel are changing our behavior.
- 16. Events could happen anywhere(even on a budget).
- 17. A new computingplatform is emerging. 1981 1994 2007 What’s Next In Computing? Dixon, Chris.
- 18. A new computingplatform is emerging. Internet Trends 2017 Report. Meeker, Mary.
- 19. A new computingplatform is emerging.
- 20. ● Site visitswon’t be necessary. ● Telepresence will be hyper-realistic. ● The way we experience events will change. ● Blockchain will be used to validate industry supply chains. A new computing platform is emerging.
- 21. The phone won’tbe our most prized accessory.
- 22. We are enteringa new industrial revolution centered around AI.
- 23. We are enteringa new industrial revolution centered around AI. The fourth industrial revolution: a primer on Artificial Intelligence. Kelnar, David
- 24. We are enteringa new industrial revolution centered around AI. Investments in Artificial Intelligence
- 25. We are enteringa new industrial revolution centered around AI. ● Events will have higher ROI for participants because we will rely less on serendipity. ● Attendee preferences will follow them around. ● Administrative work will be automated. ● Small-to-medium group booking won’t require a sales rep. ● RFP volume will decline thanks to matching algorithms. ● Software will disrupt every legacy industry system.
- 26. AI will makeplanning and attending events even better.
- 27. Predictable physical workis being replaced by machines. Where machines could replace humans—and where they can’t (yet). McKinsey.
- 28. Predictable physical workis being replaced by machines.
- 29. ● Photographers willbe drone operators. ● Robots will replace blue collar labor (security, banqueting, line cooks). ● Interacting with robots will be socially acceptable. ● Drone shows will be the new fireworks. Predictable physical work is being replaced by machines.
- 30. Focusing on thecustomer will be more important than ever.
- 31. ● Transparency willbe one of our core values. ● Sales professionals will be measured by the success of their clients. ● Diversity and inclusion will take center stage. ● Clients will make business decisions consistent with their social values. A new generation is entering our industry, bringing its own values.
- 32. The industry willgo through a culture shift.
- 33. The DNA ofevents is changing as face-to-face becomes more coveted. Internet Trends 2017 Report. Meeker, Mary.
- 34. ● Influencer marketingwill play an important role in driving attendance. ● Festivilized events (“experiences”) will be the standard. ● Corporate user conferences will replace association events. ● Similar events will consolidate. ● Large events will warehouse smaller ones. The DNA of events is changing as face-to-face becomes more coveted.
- 35. Participant attention willbe a planner’s most sought-after asset.
- 36. ● The eventplanning profession will be more respected. ● The value of corporate events will be universally accepted. ● Like word processing, event planning will be a core skill for many jobs. ● Planners will develop a more comprehensive understanding of technology and business. ● Event planners will interact with executives on a regular basis. The event planning profession is entering primetime.
- 37. The events industrywill receive the attention it deserves.
- 38. Stay in Touch socialtables.com/planners 1(877) 973-2863 [email protected] Dan Berger Founder, CEO Social Tables