Group business could be crucial to the wider travel recovery.
Hotels and destination management organisations (DMOs), as well as convention & visitor bureaus (CVBs), are all looking to attract visitors.
This is why Amadeus and Knowland, a global provider of data-as-a-service insights on meetings and events for hospitality, are expanding their partnership to deliver new data insights that will allow the industry to understand key trends, measure performance and plan for the future.
It is the first time that event data such as attendee numbers and the volume of space being booked from Knowland have been combined with group, negotiated, and GDS hotel booking data from Amadeus to give both individual and aggregate views of the key drivers of hotel performance.
The combined insights delivered by the Hospitality Group & Business Performance Index presents a unique overview of group travel activity in the United States.
Key insights from the quarter one index this year the overall ‘health’ of the industry has reached 90 per cent in comparison to the same period in 2019.
At the same time, corporations significantly lead the way ahead of leisure events or weddings, accounting for over 66 per cent of events held in the first three months of 2023.
Finally, the top sectors hosting events were ranked as education, national associations, technology and healthcare sectors which together accounted for 54 per cent of events.
Jeff Bzdawka, chief executive, Knowland, said: “As a sales intelligence company, our strength is in our ability to leverage trend data to help hospitality organizations better understand the shifts in today’s market to improve performance.
“Amadeus and Knowland have come together to build a new, first-of-its-kind Index to enable users to understand the relative position of key business drivers so they can make the best decisions to grow revenue and asset value.”
The Index compares figures on a quarterly basis to same time performance before the pandemic in 2019, rolling up the data to score the overall ‘health’ of the industry.
The Index also includes filters to view top event market segments and industries booking group events, allowing hoteliers and DMO/CVBs to closely track trends and adapt their business strategies accordingly.
Katie Moro, vice president, data partnerships, Hospitality, Amadeus, adds: “This partnership with Knowland demonstrates how our industry leading business intelligence data can support hospitality growth and recovery.
“The insights provide a clear snapshot of hotel occupancy and booking trends, along with information on which sectors are meeting, group size, and the size of their meeting space.
“We felt it was important to go one step further with the Index, by aggregating the most sophisticated and in-depth data available on the market today and combining it in a way that gives the industry a meaningful benchmark on where recovery has reached.
“Our ultimate goal is to give hoteliers and DMO/CVBs all the tools they need to develop strong marketing and revenue strategies to increase their market share.”
Access the complimentary Hospitality Group & Business Performance Index here to learn more.