A growing number of event organisers are making bookings at the eleventh hour, with cost tending to be the deciding factor in the choice of event venues.
Event Industry News cites a recent survey of event organisers, which found that more than one third (37%) of respondents are starting to book events three months in advance, with 27% booking six months ahead.
Just 6% of event organisers are planning ahead and booking events more than 12 months in advance. The survey also found that 10% were making bookings one month ahead of the event, with a further 3% making arrangements as little as two weeks in advance.
The research suggests that 51% of respondents consider cost to be the most important factor when booking an event. 18% of those questioned saw location as the key feature, while price transparency and customer service were a priority for 9% of participants.
The growing tendency to leave bookings until the last minute could be a sign of the events industry adapting to the impact of the recession. By holding out for cheaper deals, organisers can save money which can then be spent on future events.
“Our research shows a clear shift in focus of events organisers to ensuring events represent good value for money before considering location, which is one of the key aspects […],’ Event Industry News quoted a spokeswoman for the research company as saying.