[ MEETING PLACE ]

Mixed outlook for meetings and events market

MEETINGS and event costs in the UK could fall by up to 4% in 2018, but London and other key cities will buck the trend.

Rates at venues in London are predicted to rise 2.42% and the report from Meetalytics also forecasts rising rates in Edinburgh and Birmingham. Outside key city centre locations, DDR rates will either remain static or decrease.

“Early indications show 2018 UK DDR average rates are 1.5% down on 2017,” says Paul Hussey of Meetingsbenchmark.com. The company's figures contradict the predictions of some major TMCS, which vary from no change to a 5% rate rise across the board in 2018. “We believe the rise in bedroom rates during the latter half of 2017 is probably behind these predictions,” says Hussey.