Meetings volume from February to March increased 55.5%, according to data from Knowland. Even more significant is a 428% increase over March 2021.
Individual recovery metrics (average attendees and average space used) are level with 2019. Additionally, March 2022 achieved a 47.5% recovery of events from March 2019.
“For the second month in a row, the growth from the prior month was at or above 50%,” said Kristi White, chief product officer, Knowland. “Recovery is picking up while average meeting metrics have stabilized. Additionally, some of the markets with the most restrictive limitations during COVID are now among the top markets in the country, a sign that recovery is taking hold across the country.”
- The average number of attendees per event in March 2022 was 108, compared to 61 in March 2021 and 110 in March 2019. Attendees are now at par with 2019 levels.
- The average space used in March 2022 was 2,756 sq. ft., while meetings in March 2021 averaged 2,512 sq. ft. and 2,987 sq. ft. in March 2019. Proportionally from a per person (p/p) perspective, 2022 meeting space used averaged 25 sq. ft. p/p, as opposed to 41 sq. ft p/p in 2021 and 27 sq. ft. p/p in 2019.
- The top five growth markets, in order, in March were Washington, DC; Atlanta; Boston; Chicago; and San Diego, reflecting those markets with the largest increase of meetings compared to February of 2022.
- The corporate segment represents greater than 65.2% of meeting and event business with healthcare, technology and training/education taking the lead as the largest industry groups. From a recovery standpoint compared to 2019 levels perspective, online retailer, tobacco, charity org/social services and urban infrastructure are the segments at the highest level of recovery captured in March.