ConventionSouth

APR 2015

ConventionSouth magazine is the leading resource for meeting planners who book all types of events, conventions, conferences and group travel in the south.

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A P R I L 2 0 1 5 ⎜ ConventionSouth ⎜ w w w . c o n v e n t i o n s o u t h . c o m 11 Increasing Occupancy & Low Growth Of New Rooms Is Pushing Hotel Rates UP The U.S. lodging industry will have a 65 percent occupancy rate in 2015, the highest since 1987, according to PKF Hospitality Re- search (PKF-HR). As a result, hotel rates are likely to increase 5.7 percent between 2015 and 2017, outpacing Moody's Analytics' predicted annual inflation rate of 2.5 percent. By year-end 2015, PKF-HR projects that the demand for lodging accommodations will have increased 25.8 percent since the depths of the re- cession in 2009, while the supply of hotel rooms will have grown by just 5.6 percent. "We have not seen six years of such strong and sustained profit growth in the 78 years PKF has been tracking the U.S. lodging industry," said PKF-HR President R. Mark Woodworth. "An ever-improving economy, and the favorable relationship between supply and demand, have led to significant growth in both revenues and profits from 2009 to the current year. We expect this trend to continue through 2017." ‰ F E A T U R E : C O R P O R A T E M E E T I N G S 1 By Marcia Bradford Corporate meetings are on the rise, hotel occupancy is hitting new peaks and business travelers are taking to the air again for training seminars, leadership retreats and strategy sessions. With technology increasingly integrated into the meeting process, it's now all about the experience for the growing number of Millennials who participate. These and other factors discussed in the 10 trends outlined below are having a major impact on meeting professionals this year and into the future, as they seek to meet the challenges presented by a changing landscape, while staying within budgetary and time constraints. Hunting for R.O.E. Corporate groups are seeking a RETURN ON EXPERIENCE when they meet. The State Of Trends To Watch Corporate Meetings 10 C a b i n B l u f f

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