Knowland: Secondary markets outperform top 25 markets in meetings, events growth

Secondary markets have outperformed the traditional top 25 markets in the U.S. in meetings and events growth in January, a recent study has revealed.

The highest growth in the top 25 market was seen in Nashville, surging 16.1%. Meanwhile, the top growth secondary market city — Lexington, Ky. — recorded a 76.4% surge in meetings and events for the month, according to the January report by Knowland.

This indicates meeting planners’ growing preference for secondary cities to lower costs.

When comparing the top 25 and secondary markets for industry segment performance, both the top 25 market — Los Angeles — as well as secondary market, Columbus, Ohio, led in education segment events.

Lexington, Ky., recorded a 76.4% surge in meetings and events in January.

Top 25 market Orlando recorded the most technology and healthcare meetings in January, with Austin leading in secondary markets for those industry segments.

The average space used for meetings in the top 25 markets and the secondary markets remained almost the same — 3,426 square feet in the top 25 markets while 3,000 square feet in the secondary cities. Average number of attendees were 124 in the top 25 and 118 in the secondary markets.

Here are the top five markets among the top 25 markets in terms of YOY growth in event volume:

  • Nashville (+16.1%): Technology, healthcare, national association, manufacturing, pharmaceutical/biotechnology.
  • Detroit (+10.4%): Education, financial/banking, manufacturing, healthcare, state association.
  • New Orleans (+7.8%): National association, technology, healthcare, training/education, charity/non-profit/social services.
  • San Francisco-San Mateo (+7.3%): Pharmaceutical/biotechnology, financial/banking, technology, national association, healthcare.
  • Tampa-St. Petersburg (+5.3%): National association, technology, manufacturing, healthcare, charity/non-profit/social services.

Here are the top five secondary markets in terms of YOY growth in event volume:

  • Lexington, Ky. (+76.4%): Education
  • Syracuse, N.Y. (+34.6%): Social-sports
  • Richmond-Petersburg, Va. (+33.4%): State association
  • Oklahoma City, Okla. (+29.1%): Technology
  • Louisville, Ky. (+24.1%): National Association

The data was derived from Knowland’s sales intelligence platform and helps hoteliers grow and protect their revenue base. The insights are a result of the analysis of meetings and events data acquired through Knowland’s data collection and aggregation methods, which include field reporting and automated methods of customer and non-customer data collection in primary, secondary and tertiary markets and its extensive historical database.