Publication Summary

The recent financial crisis and recession sent the U.S. corporate groups and meetings market into a tailspin. Industry spend plummeted nearly 30% in 2009. The industry is now clawing its way out of one of its toughest periods ever, but the landscape remains dynamic and complex. The recession and the "A.I.G. effect" have heightened scrutiny surrounding travel spend; procurement departments and Strategic Meetings Management Programs (SMMP) are driving a reassessment of meeting value, ROI and processes from top to bottom; and emerging technologies – virtual conferencing, social media and mobile services – are serving up new threats and offering immense opportunities.

PhoCusWright's Groups and Meetings: Driving Success in Business Travel's Most Complex Segment provides a robust picture of the U.S. groups and meetings market. The analysis is based in part on data collected through an in-depth survey conducted with more than 600 meeting buyers, including meeting managers, planners, coordinators and procurement professionals. To supplement this extensive data, PhoCusWright interviewed more than 30 suppliers and intermediaries that service the industry – hotels, cruise lines, virtual meeting providers, TMCs, GDSs, technology providers and others. The combination of rich buy-side data and qualitative supply-side input yields a wealth of information and insight into the groups and meetings market.

PhoCusWright's Groups and Meetings: Driving Success in Business Travel's Most Complex Segment, presents data, findings and analysis that help companies understand the current state of the groups and meetings market, and appreciate the unique dynamics that are transforming the space. Key areas of focus in the report include:

• Market sizing and forecasts for 2008-2012, with analysis of meeting size and types, travel vs. non-travel spend, online bookings, use of intermediaries and more
• Trends in meeting management, including reporting and oversight, the influence of procurement, centralization, outsourcing and SMMP implementation
• Impact of virtual/video conferencing, with data and discussion on the extent to which virtual elements are displacing and/or supplementing physical meetings
• Social and mobile technology trends, including how emerging technologies influence the quality of the meeting experience and extend the meeting lifecycle

The U.S. corporate travel industry continues to be pressured by a sluggish economy, but the groups and meetings market is recovering – changing rapidly amid powerful forces including new technologies. PhoCusWright's Groups and Meetings: Driving Success in Business Travel's Most Complex Segment will give your company the numbers and know-how to excel in this challenging but dynamic marketplace.

Table of Contents

34 Pages

Section 1: Overview, Key Findings and Research Background
Overview
Key Findings
The "New Face" of Meetings
Research Background and Objectives

Section 2: Market Size and Structure
Meetings Market Sizing and Forecasts
Size and Types of Meetings

Section 3: Meetings Management
Reporting and Oversight
SMMP's Modular Implementation

Section 4: Corporate Meetings Technology - What's Now, What's Next
Online Tools
Emerging Technologies
- Video/Virtual Conferencing
- Mobile Technology
- Social Media and Social Networking

LIST OF TABLES

Holistic Approach to U.S. Corporate Groups and Meetings

Geographic Scope of Meetings and Events Responsibility

Composition of the Corporate Meetings Market by Segment, 2009 ($B)

Corporate Meetings Travel Gross Bookings, 2008-2012 ($B)

Expected Change in Meeting Spend for 2010 over 2009, by Company Size

Corporate Meetings Gross Travel Bookings and Online Bookings and Share, 2008-2012 ($B)

Direct vs. Intermediary Booking of Meetings by Company Size

Composition of Corporate Meetings Market by Size of Meetings, 2009

Share of Meetings and Spend by Type of Last Meeting

Extent to Which Meetings are Outsourced and Centralized

Percentage of SMMP Processes Implemented at Enterprise Level or for Select Meetings

Percentage of Meeting Buyers That Always/Sometimes Manage Meeting Functions Online (2006, 2008, 2010)

Percentage of Meeting Buyers That Always/Sometimes Manage Supplier-Related Functions Online (2006, 2008, 2010)

Emerging Technologies Implemented at Last Meeting

Percentage of Meetings Including Video/Virtual Conferencing (2009, 2010)

Log-On Frequency for Social Networks, by Smartphone Usage

Social Media/Networking Throughout the Meeting Lifecycle