Meetings in 2027: Predictions for the Future of the Hospitality Industry

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Meetings in 2027:Predictions for the Future of

the Hospitality Industry

Dan Berger@danberger

Founder & CEOSocial Tables

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Presenter-Audience Agreement

• You’re free to leave any time.

• Questions welcome whenever.

• Take as many photos and share as you please.

• Engage on social: @danberger | #MPINCCACE

I am a participant.

I am a planner.

I am a supplier.

120 employees

Raised $22.6 million

Founded in 2011

The #1 software for planners and properties to collaborate online.

4,229 customers creating

1.73 million events with

210 million participants

I am a participant.

I am a planner.

I am a believer.

I am a supplier.

We envision a world where face-to-face events achieve great things

Sample of the 40+ awards Social Tables and its leadership have received.

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MPINCC Annual Conference & Expo 2017Learning Objectives

● Develop insight into how our industry is performing.

● Check in on how far our industry has come thanks to technology.

● Review trend and subsequent predictions that will give you a glimpse of what might be ahead.

open_discussion

How would you describe the health of our industry?

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MPINCC Annual Conference & Expo 2017

Politics and PoliciesA potential trade war and ongoing immigration issues will impact the global hospitality industry, hospitality leaders believe.

DemandIndustry leaders believe corporate travel will bounce back in 2017 due to the stock market’s performance, “lessening regulations on corporations, slashing their tax rates, and building up a more robust transportation infrastructure.” This will contribute to an increase in ADR, which will increase RevPAR by an estimated 2.3%.

SupplyAn increase in hotel room supply will marginally outpace growth in demand, resulting in a decline in occupancy to 65.3%. Airbnb remains a wildcard.

The State of Travel and Hospitality in 2017

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MPINCC Annual Conference & Expo 2017The State of Group Business in 2017The Overall ClimateWe are still in a supplier market. Chains are reporting strong group booking toward the end of the year and beyond but tepid short-term booking due to market and government uncertainty.

Budgets and attendance in 2016 grew from 2015 but at a slower pace. Exhibitors numbers grew in 2016 at a higher clip than 2015 so more space was used.

The Biggest ChallengeSafety and security are top-of-mind for planners.

The MegatrendMeetings and events are being festivilized.

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MPINCC Annual Conference & Expo 2017Beyond 2017: A Recession on the Horizon

From 1945 to 2001, and 10 cycles, recessions lasted an average 10 months and expansions an average of 57 months.We’re currently on expansion month #91 and counting.

YEAR Economy

2008 Recession began

2009 Recession ended (1.5 years)

2018 Next projected recession

2019 Expansion

2025 Projected end of an expansion

conclusion

Our industry and the economy are both healthy so we should be cautiously optimistic.

open_discussion

How has technology impacted your job over the last decade?

Information Symmetry

Planners rely on their networks and online

research to learn about destinations before

speaking to sales reps.

Information Asymmetry

Planners used to rely on hotel sales

professionals for research and information.

Destination Sourcing

Pre-Event

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Event Marketing

Permission Marketing

Marketers deliver anticipated, personal, and

relevant messages to people who actually want

to get them thanks to new advertising

technology.

Traditional Marketing

Marketers used to buy email lists, mail

invitations, and add everyone to their

newsletters.

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Pre-Event

Networking

Online

Participants have access to fellow attendees and

technology matches people thanks to

algorithms.

On Site

People let serendipity and networking sessions

do all of the work.

Pre-Event

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An Afterthought

There was no real software built for planners or

event goers.

Integrated

Planners think about what objectives they are

trying to achieve and use the technology that fits

best.

Technology

Pre-Event

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Online Collaboration

Information is centralized online for efficient

stakeholder communication.

Offline Redundancy

Back-and-forth calls, emails, and faxes to

coordinate events and communicate changes.

Working Together

Pre-Event

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Education

Participants

Speakers have a dialogue with participants. They

use technology to engage them and apply adult

learning best practices.

Attendees

Presenters spoke at attendees.

During EventPre-Event

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Physically Attending

Attending in the Flesh

The only way to attend an event was to

physically be there.

Virtual Attendance

Live-streaming is free and is used to build future

attendance.

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During EventPre-Event

Disseminating Information

The Mobile App

Real-time information is distributed digitally

through an app, social, and email.

The Event Guide

Information, including the schedule and attendee

list, was distributed through physical collateral.

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During EventPre-Event

Event Lifespan

Events were Finite

The life of an event spanned was limited to its

allocated time.

Events are Evergreen

The lifespan of an event extends past its

allocated time. People connect and share online

afterwards.

Post-EventDuring EventPre-Event

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Event ROI

ROI is Measurable

Events are considered a marketing product.

Their impact can be measured thanks to

software and hardware products.

ROI was an Unknown

Event and meeting spending went into a

marketing black hole.

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Post-EventDuring EventPre-Event

Sharing Information

Information is Shared

Content is distributed far and wide by speakers.

It is amplified by participants through live

tweeting, live streaming, and social media

posting.

Information was Withheld

Content was held closely by speakers.

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Post-EventDuring EventPre-Event

open_discussion

What are some of the ways the industry will change in the future?

trend_alert

Industries are changing in front of our eyes.

The industry processes we know today will be obliterated.

trend_alert

Events are getting a makeover.

The Annual Meeting will become endangered.

Events will be reimagined as festivals.

trend_alert

Software is eating the world.

Coordinating event logistics will be automated.

Artificial intelligence will make events better for everyone.

We won’t be able to tell the difference between real and virtual events.

Complex productions will be cheaper and easier to organize.

Most group business will be booked online.

There will be fewer site visits and site inspections.

Hotel sales people will become value-added meeting consultants.

A new computing platform will change the way we experience meetings.

Event apps will no longer exists.

Serendipity will be less successful than algorithms.

trend_alert

Organizations are getting better at collecting and using data.

There will be more events,with bigger budgets.

Event Professionals will join Executive Teams.

The room block will play second fiddle to economic impact.

A governing body for the meetings industry will emerge.

trend_alert

Hotel operators are more focused on margins than ever before.

The hospitality industry will be moreprofitable than ever.

Technology will be an integrated part of the convention service team’s offerings.

trend_alert

Homesharing is mainstream.

@danberger | #MPIMICHAPTER

Hotels will do mostly group business.

trend_alert

Robotic capabilities are evolving.

Robotics will be used in facility operations.

The best photographers will know how to fly.

trend_alert

The middle class is growing as travel is becoming easier.

Second tier cities will become premier destinations.

The “Golden Age of Travel” will continue.

Connecting | Q&A

email: [email protected]

twitter: @danberger

snapchat: @danjberger

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