Successful Meetings - April 2008 - (Page 14)

News & Analysis > Industry Trends of 2001. the shadow of the economy Figures from PricewaterhouseCoopers indiRECESSION FEARS cate hotel room demand is still strong, Sensing a destabilooming over everything UNFOUNDED FOR HOS- thanks to active vacationers and just a lized economy, meeting else. PITALITY SUPPLIERS? slight drop-off from meeting and incentive planners and suppliers “This could show up for groups. are worried. The recently some companies in a con2007 2008 2009 released FutureWatch solidation of a bunch of Hotel Occupancy 63.2% 62.9% 62.7% study, conducted by small events into a few largPercentage Change from Prior Year -0.2% -0.5% -0.4% Meeting Professionals er events,” says Christina Average Daily Rate $103.46 $109.24 $114.46 Percentage Change from Prior Year 5.7% 5.6% 4.8% International and sponWilkes, practice leader for Nominal RevPAR $65.38 $68.71 $71.72 sored by American meetings with American Percentage Change from Prior Year 5.5% 5.1% 4.4% Express, surveyed 1,643 Express Business Travel, in Inflation-Adjusted RevPAR $61.65 $63.24 $64.64 meeting and event proNew York City. “Or, we Percentage Change from Prior Year 2.7% 2.6% 2.2% fessionals and suppliers, might even see the reverse, Source: PricewaterhouseCoopers who generally were a large meeting being broupbeat about increasing ken up into smaller regional followed by worries about the price of attendance and budgets in 2008. gatherings, to not have a big meeting too gas and oil, and the rising costs of holdNevertheless, when survey takers prominent on the radar.” ing meetings. By comparison, last year’s were asked about the most serious conWilkes noted that pressure on meetversion of FutureWatch had terrorism cerns among all external factors facing ings budgets will continue; American and the war in Iraq as the highest conthe industry, leading the list was the Express anticipates room rates to rise by cerns of planners and suppliers; this economy and prospects for recession, 10 percent this year, virtually double the year these issues ranked only 10th, with PKF prediction. —Christopher Hosford >Suppliers Tisch Steps Down From NYC & Co. Myrtle Beach, only better. Not responsible for meeting planners left unattended. Although NYC & Company officials seemingly have nothing but praise for the work done by Jonathan Tisch during his six-year tenure as chairman and board member of the organization—which serves as the city’s convention bureau—its officials last month announced that he was stepping down from both posts, effective immediately. Tisch, chairman and CEO of Loews Hotels, remains involved with two national tourism-lobbying groups. His NYC & Co. role will be taken over on an interim basis by Tim Zagat, pioneer (along with wife Nina) behind the Zagat Survey, while the bureau searches for a permanent replacement. APRIL 2008 SUCCESSFUL MEETINGS You’ll find it all at the Hilton Myrtle Beach Resort at Kingston Shores, Kingston Plantation’s sister property. Golf. Restaurants. Pools. The beach. And with 45,000 square feet of flexible meeting space, including a new conference center and ballroom, we now have room for groups from 50 to 2,000. Who says you can’t please all the people all of the time? 1-800-876-0010

Table of Contents for the Digital Edition of Successful Meetings - April 2008

Successful Meetings - April 2008
Editor's Note
Industry Trends
On the Record
Planner's Spotlight
Technology Talk
Personal Success
Websites of the Month
Food & Beverage
On Site
Professional Development
On Site
Professional Development
Miforum Q&A
Beyond the Flames
Reservation for—21,000
Casino Riches
Entertainment Jackpot
Who Needs a Passport?
The International Swing
Around the World in 18 Holes
Places & Spaces
Puerto Rico
Show Special: Washington DC / Frankfurt, Germany

Successful Meetings - April 2008