Event Industry Survey shows 96% of Venue Bookings Will Be Rescheduled in 2020
Since the beginning of the year, COVID-19 has had an unprecedented impact on the hospitality and event industry. Event planners and corporate clients have had no choice but to reschedule events worldwide.
Tripleseat, established event software company providing services to thousands of event planners worldwide, has conducted an interesting survey and asked event professionals what they are doing to jump start the event industry in 2020.
ABOUT 96% OF EVENTS WILL BE RESCHEDULED. THE QUESTION IS HOW SOON?
Based on the survey we can conclude that planners and event professionals are looking at the end of August and beginning of September as the preferred time to reschedule their Spring and Summer events. Below are the results of the survey in numbers:
2% June
9% July
16% August
29% September
9%October
4%November
1% December
24% January or later in 2021.
The majority of the events being rescheduled (76%) are corporate events including venue bookings for conferences, meetings, networking parties and other business activities. Social events venue bookings represent 33% and venue bookings for holiday parties are around 21%. Weddings venue bookings are 18%. Event bookings for music festivals, fundraisers, galas, art exhibitions and educational workshops represent 17% of the rescheduled events.
WHAT KIND OF EVENTS WILL TAKE PLACE THIS SUMMER?
The answer is simple. Virtual events. Event professionals are looking at creative online solutions and here are a few options they are considering:
webinars;
virtual events;
virtual meetings;
virtual happy hours;
networking parties;
online office hours;
online conferences;
livestreams on social media
These type of solutions will not take the place of live events but will at least offer an opportunity to individuals and companies to virtually gather, exchange information and ideas, promote products, create new partnerships and keep a portion of the business going during the current crisis.
LET’S GET READY TO GET BACK TO BUSINESS
As the survey reveals, over 70% of the Spring and Summer events will be rescheduled to a date within the next 6 months. That’s great news for the hospitality and event industry.
As cities and states discuss the plans for reopening, Restaurants and event venues have several resources to use to follow the upcoming guidelines and make sure to be ready to open doors once restrictions are lifted. The National Restaurant Association’s reopening Guide is a priceless resource for anyone in the hospitality business at the moment.
If you have lost your venue or you are looking to reschedule your Spring and Summer event, our venue consulting team of professionals is here to help you find the perfect space. We do have a lot of availability for Fall and Winter dates and a wide open calendar for the 2021 calendar year. Feel free to check out some of our Los Angeles Event Spaces and contact us to explore the available venue options for your upcoming event.