The hospitality market is experiencing a shift—events are back to pre-pandemic levels, but understaffing and looming recession preventing business as usual. There are a whole host of factors disrupting the market right now, but one in particular sticks out – the constantly evolving buying behavior of event professionals.
This shift in the landscape is likely to adversely affect the industry—but only if venues don't adjust how they approach their competitive set. Perhaps unsurprisingly, event professionals make decisions based on their own needs, which have little to do with your chosen comp set.
It’s critical now more than ever to meet the moment – look up, down, and around and re-evaluate who you consider competition. Make sure you are not losing your share to hotels that you didn’t know you were competing with.
Regional Sales Vice President
Cvent
