The St. Louis-IL market led the top 25 markets in March for meetings and events growth with a year-over-year (YOY) increase of 24.3%, according to data from Knowland. Las Vegas came in second with 20.9% growth. National association and education groups led in four of the five top markets.
This data is sourced from Knowland’s sales intelligence platform and designed to help hoteliers protect and grow their revenue base, according to the company.
Overall, YOY event volume growth for the industry in March declined 8.1%. The average space used for meetings in the top 25 markets was 3,526 sq. ft., while secondary markets were slightly less at 3,181 sq. ft. Average attendees were 124 in the top 25, while secondary markets averaged 119 attendees.
Sports paid off for St. Louis in March as it ranked highest in the top 25 U.S. markets with average space use of 3,979 sq ft for 158 average attendees. Social/sports and national association events were key drivers, including events such as the Missouri Valley Conference tournament for men’s college basketball, the Mid-American Open chess tournament and the American Collegiate Hockey Association (ACHA) and the Hockey National Championships.
The drivers for the top growth markets among the top 25 were:
- St. Louis-IL (+24.3%): Social-sports, national association, education, charity/non-profit/social services and healthcare
- Las Vegas (+20.9%): Education, technology, national association, wedding and training/education
- Oahu Island, HI (+4.9%): Education, financial/banking, national association, travel and wedding
- Nashville (+3.4%): National association, technology, healthcare, financial/banking and manufacturing
- Seattle (+11.5%): National association, charity/nonprofit/social services, education, technology and healthcare
The five high-growth secondary markets and top industries were:
- Greensboro-Winston Salem, NC (+45.54%): Consulting
- Colorado Springs, CO (+37.29%): Training/education
- Louisville, KY (+35.68%): Charity/nonprofit/social services
Lexington, KY (+31.4%): Construction - Rhode Island (+26.55%): Charity/nonprofit/social
