We know that budgets are a huge consideration in planning meetings. Knowland reports that secondary markets led the traditional “Top 25” markets in January 2024. For example – the highest growth city in the Top 25, Nashville, was up 16%, while the secondary market, Lexington, KY, had a whopping 76% uptick in meetings and events. This tells us that meeting professionals are opting for secondary destinations to reduce costs.
Besides Lexington, other secondary markets, and industry popularity, and their growth are as follows:
- Syracuse, NY +37%
- Richmond, Petersburg, VA +33%
- Oklahoma City, OK +29%
- Louisville, KY +24% (Kentucky is in growth mode!)
This data was compiled to help give insight into hotels and also speak to overall meeting costs. As meeting costs continue to increase, planning professionals are looking at ways to cut costs without losing the value of the actual meeting.
Copyright 2024, Lois Creamer. Lois Creamer works with professional speakers who want to book more business, make more money, and fully monetize their message. She can be reached in the following ways: Lois@BookMoreBusiness.com
314-374-4007
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