Chicago market led the U.S. meetings and events industry by volume for April, a recent study of the top markets has revealed.
According to Knowland’s monthly monitoring of the top 25 markets, Chicago’s leading spot was helped by spring’s return of top industry and social events amid the growing theater and entertainment attractions, waterfront adventures and art events.
The market averaged 162 attendees per meeting and 4,500 square feet of space used, with an average of 16 bookings per property in April. According to STR, Chicago was the leading market for group rooms sold in April.
Chicago was followed by Los Angeles-Long Beach, with Washington, D.C., rounding out the top three. The leading industry driver for meetings was National Associations placing either first or second in the top five markets.
Event volume in April 2023 surged 73.2% over April 2022.
Among the top five markets (by event volume), Chicago was in the lead hosting National Associations, followed by education and healthcare. Chicago was followed by Los Angeles, Washington D.C., Dallas, and Phoenix.
Here’s some additional insight into the top drivers for these markets:
- Chicago — National Association, healthcare, education, manufacturing, pharmaceutical/biotechnology
- Los Angeles — Education, National Association, charity non-profit/social services, education, training/education
- Dallas — Healthcare, National Association, education, technology, social-sports
- Phoenix- National Association, healthcare, wedding, education/banding, education
The top five markets by YOY growth in meetings and events were Raleigh-Durham-Chapel Hill, N.C.; Myrtle Beach, S.C.; Oahu Island, Hawaii; Jacksonville, Fla.; and Harrisburg, Pa.
Overall in the U.S., the number of meetings and events fell 7.5% for the week ending May 6 compared to the previous week, data suggested. Corporate events led event volume with 59.1% of meetings and events, with National Association groups as the top industry segment for the week.
The average number of attendees for the week remained steady at 87, while the average square footage used was up to 2,030 (against last week’s 1,935) per event, and the square feet used per person was 23.
The data was a subset of Knowland’s sales pipeline generation platform created to help hotel owners build and protect a hotel’s revenue base.