Event planners’ strategies and priorities for sourcing venues revealed in second-annual APAC survey

After conducting an in-depth survey of meeting and event planners across the Asia-Pacific (APAC) region, Cvent, Inc., a market leader in meetings, events and hospitality technology, has released the results of its ‘2018 Global Planner Sourcing Report APAC.’ The study explores how meeting planners source venues and what influences their decision-making process. The results equip hotels and venues with new insights to improve their offerings and attract a greater share of MICE business events in the region. Compared to previous years, the study revealed event planners in the APAC region are seeing an increase in budgets and have an increased desire to deliver unique experiences for their attendees.

The report showed over half, 52 percent, of respondents said their event budgets had increased year–on–year (compared with 29 percent in the year prior). Small events with one to 20 attendees have increased by 14 percent compared to 2017 results. The report also revealed an increase in organizers planning off-site meetings.

Commenting on the state of the events industry across the APAC region and what it means for hoteliers and venues, Sandeep Nagpal, Vice President of Marketing at Cvent said, “Organizers are seeing an increase in their event budgets and now more than ever, planners are looking to utilize these additional funds for more memorable and personalized experiences. Hotels and venues that are able to re-evaluate their strategies to focus on flexible meeting space, unique activities and atmospheres, and delivering enhanced amenities and best-in-class service levels are the ones that will find most success in attracting MICE business to their properties.”

“This survey offers hospitality professionals the data insights they need to attract meetings and events buyers, and to ensure their venue’s sales and marketing teams are focusing on the areas that will bring the most ROI for planners,” said Nagpal.

Additional findings from the report include:

Sourcing events continues to go digital and most group business is available for the taking and can be earned by any venue with great marketing plans and a strong digital presence.

• 17 percent of respondents now list smart phones or tablets as venue sourcing tools.
• Now more than ever, planners are more flexible and work on the go. Since less than half of planners are certain of their venue at the beginning of the sourcing process, APAC hotels and venues need to be more visible and appealing online, ensure their websites are mobile-responsive, and prioritize digital into their sales and marketing strategies.  

Despite growing budgets, costs and discounts remain important to planners, but they aren’t everything. Though they may have more resources at their disposal, planners remain sensitive to costs, but the desire to deliver a memorable experience can help override cost restrictions

• Nearly 70 percent said they are extremely or very certain about what they have to spend.
• Only 40 percent of planners said they would move to their second choice venue if they offered a more than 10 percent savings. Additionally, unique atmosphere, customer service and free amenities are all up year over year as top influencers in booking a venue. This helps to demonstrate the importance of these offerings, all of which can provide a standout experience and entice group business.

 Read Cvent’s 2018 Global Planner Sourcing Report APAC, here: