Phoenix ranked first in the top 25 markets with year-over-year (YOY) growth at 19.7% in October, according to Cendyn. It was the first time this year that the market accomplished this feat with a mix of national association, technology, healthcare and financial/banking, as well as The Lodging Conference.
Las Vegas followed closely with growth at 17.7%, placing it in the top five markets for the 10th consecutive month. Michigan South and the Florida Panhandle led in secondary markets, while Kauai, HI, experienced significant YOY growth at 72%. T
Phoenix averaged 5,612 sq. ft. and 174 attendees, driven primarily by national association events (8.6% of event volume). For the top 25 markets, the average space used increased to 3,902, with an average attendee count of 132.
The primary drivers for the top five among top 25 markets were:
- Phoenix (+19.7%): National association, technology, healthcare, financial/banking and charity/non-profit/social services
- Las Vegas. (+17.7%): National association, wedding, technology, pharmaceutical/biotechnology and healthcare
- Dallas (+17.6%): Healthcare, national association, technology, pharmaceutical/biotechnology and education
- Atlanta (+17.3%): Education, national association, charity/non-profit/social services, technology and wedding
- New York (+16.3%): Technology, travel, financial/banking, education and charity/non-profit/social services
Michigan South experienced significant growth at 99.2%, likely driven by university football activities. Hawaii-Kauai was in the top five secondary markets for the first time with an average meeting size of 9631 sq. ft. and average attendees at 316. Although a significant contributor was weddings, consulting, education and national association events also had a significant impact. Charity/non-profit/social services events were secondary drivers for three markets. The average space used was 3,841 sq. ft., and the average attendee count was 128. The five high-growth secondary markets and top industries were:
- Michigan South (99.2%): Education
- Florida Panhandle (99.1%): Retail/online retailer
- Louisville (98.2%): National association
- Kauai (72.0%): Wedding
- New Mexico North (71.3%): Travel
