How are meeting budgets set, destination decisions made, deals negotiated and dollars allocated? These are among the insights revealed in M&C's first Meeting Spend Survey.
Conducted online in May and June, the results were garnered from 189 respondents, 38 percent of whom are association meeting planners and 34 percent corporate planners. Other respondents represented third-party firms (11 percent), independent planners (5 percent), educational institutions (5 percent), government entities (2 percent) and other organizations (5 percent).
Among highlights from the research:
• Nearly one-third of respondents have annual budgets of $1 million or more.
• For 2016, most expect their meeting budgets to increase (48 percent) or remain the same (40 percent).
• Despite rising hotel rates, planners allocate more money for food and beverage (31 percent of a meeting's cost) than for lodging (25 percent).
• Planners wrangle over prices for all meeting elements, including guest rooms (91 percent), meeting space (89 percent), F&B (84 percent), A/V (74 percent) and Wi-Fi (66 percent).
The following pages put a graphic face on the findings.
> Which of the following best describes your title?
> Is meeting planning your primary responsibility?> For what type of organization do you work?
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What was the total annual budget for the meetings you were involved in planning in 2014?
What percentage of total meeting expenditures was allocated for each of the following?
How involved are you in setting the annual budget for the meetings you plan?
On a per-meeting basis, how involved are you in setting the budget?
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HOW DID YOUR MEETINGS BUDGET CHANGE FROM 2014 TO 2015?
HOW DO YOU ANTICIPATE YOUR MEETINGS BUDGET WILL CHANGE FROM 2015 TO 2016?
> If you expect your 2016 budget to increase:
> If your 2016 budget will decrease:
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In your site-selection decisions, how important are the following costs?
For which of the following meeting elements do you typically negotiate costs?
WHAT IS THE AVERAGE COST PER ATTENDEE FOR YOUR MEETINGS?
(Including transportation, hotel, registration fee, meals and ancillary spending)
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How often do you meet your annual meetings budget?
How often do your individual meetings meet their budgets?
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What is the maximum room rate acceptable for the meetings you plan?
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What is the average number of attendees at your meetings?
How many off-premises meetings did your organization hold in the past 12 months?
HOW WILL THE NUMBER OF MEETINGS YOUR ORGANIZATION HOLDS CHANGE IN 2016?
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