London event venues are continuing to record short lead times despite many companies battling through a tough economic climate, reports meetpie.com.
The 2013 London Venues Business Report reviewed business around 110 of the capital’s venues and hotels to find that exhibitions costing upwards of £10,000 pose a lead time of just 5.7 months.
With events costing £5,000 and under, the lead time averages 2.8 months.
There was plenty of evidence to suggest that businesses are not put off by the price of hiring out venues in London, as just eight per cent of the venues questioned said they had won business by offering clients ‘added value’.
Knowing that lowering their rates would do little to enhance their prospects of gaining business, just 18 per cent used a discount tactic to lure customers.
Companies could be siding with their venues to gain a superior set of facilities, with over 90 per cent of venues offering a wireless internet connection and 80 per cent giving this away for free.
The report suggested these standards will only improve in the coming years, with 73 per cent planning investments in their event venues.
The report was commissioned by the Westminster Collection, the Conference Bench, Unique Venues of London and the London City Selection, who commented: “Discovering such interesting results last year meant we were all very keen to team up again in 2013.”
Cited by hbaa.org.uk, they added: “We are pleased that there are so many positive results in this competitive market – and proud of the fact that we are able to display them in a way that is so valuable to the industry.”