Event venues are optimistic about corporate bookings for 2011

A study has found that event venues are optimistic about bookings for corporate events in 2011, according to Event Magazine.

The research found that, despite 2009 being difficult, optimism has returned to the corporate events industry. Many of the 100 event venues questioned claim to be hopeful for next year’s figures.

“Whilst it is undeniable that the recent recession has seen some venues struggle in the marketplace, this survey does highlight the confidence in the corporate market moving forwards,” said Lisa Hatswell, chairman of a venue behind the research.

Rene Dee, chief executive of another venue who conducted the study, said: “This business survey represents my belief that, in producing more meaningful and up to date research for our particular sector, this will help us to guide us in future decision making about how London promotes itself in this vital area.”

The study found that 55% of venues recorded a drop in the number of corporate bookings last year. 79% of venues said that lead times have continued to remain short, however just over half of the venues said delegate numbers are remaining steady.

This is good news for the corporate events sector, especially after some commentators claimed that the emergency budget would negatively impact the industry.

According to Meetpie, the budget would lead to ‘belt tightening’ around corporate event spend. However, the article also pointed out that the reduction in corporation tax would free up cash for business owners. Juliet Price, head of marketing and business and intelligence at an event venue, said that spending cuts would lead to a bigger demand for online self booking tools to help businesses get the best rates for events.