Meetings venues 'in a strong position'

Wednesday 05th of March 2008

Meetings facilities across the country are well-positioned to weather the economic storm that many commentators are predicting, according to one major analyst.

PricewaterhouseCoopers' Hospitality Directions forecast for the UK hotel industry states that, while a slowdown may be experienced in the sector, it is unlikely that such providers will suffer significantly.

Those event management companies that use hotels and similar venues for their events may be pleased to know that competition is set to characterise the sector in the coming months, according to the research.

"A tightening of corporate travel budgets and policies and more careful consumer spending will make it harder to attract both the consumer and the corporate pound," states Liz Hall, head of hospitality research at the firm.

Event management London firms may note details on the capital's performance during 2007, where record room rate growth was noted, although such growth is expected to halve in the year ahead.

In 2006, PricewaterhouseCoopers identified a burgeoning trend for "lifestyle" hotels which were pushing forward the industry's performance through innovation and improved value for money.