London corporate events faring better than expected

With an ongoing reduction in the public sector events industry, it should come as some relief that within private corporate events, London is not doing badly at all.

That’s according to The Westminster Collection and Unique Venues of London (UVL) whose survey found that some corporate event bookers are actually turning over a great deal.

Forty-six per cent of the UVL consortium (who have a combined turnover of £161 million) said that they are currently experiencing a revenue increase. Some of these revenues are even up by as much as 70 per cent.

It was also predicted that 2011/2012 corporate bookings will be the most profitable part of the meetings and events industry this year.

Commenting on the strength of this year’s UVL research, Lisa Hatswell, chairman of UVL, was cited by as saying: “It is encouraging to hear such positive results from this year’s survey, particularly when we are operating in such a varying climate.”

While René Dee, chief executive of The Westminster Collection, added on Meetings Review: “Our positive findings prove London’s business tourism space is one of great value for our capital city and not to be ignored.

“The business tourism approach should be invested in and pushed forward by bodies such as London and Partners, Westminster City Council, The Mayor’s Office and the London business tourism group to champion London as the world’s leading business destination.”