Buyers for conference centres and event spaces are increasingly spending more money on new technology than on catering, according to research undertaken by PricewaterhouseCoopers (PWC) on the latest trends in the world of corporate venues.
As reported by Meet Pie, the event venues magazine, research undertaken by PWC in August showed that several new trends have developed across the industry over the past year. One such trend is a decrease in the amount spent by buyers on catering, matched by an increase in investment on technology such as Audio-Video set ups.
This could perhaps have been driven by another trend – a significant upturn in the demand for event spaces for training courses and “some revival” in corporate meeting and team building events. These kind of focused business events may well benefit from better technology than better catering.
The PWC report also found that when it come to corporate events, London is currently showing “far stronger performance” than other regions of the UK. The report also predicted that next year the demand for corporate venues would likely come from the pharmaceutical, IT, media, financial recruitment and consultancy sectors.
According to Liz Hall, PwC’s head of research for hospitality and leisure, opinions across the event venues industry are conflicted on what the biggest draw to clients is in the current climate. “There is conference trade during the week but where some are saying price is more important than quality, others say that is not true and things are fine,” said Mrs Hall, adding that non-residential venues without attached accommodation – are a “big growth area”.