Amadeus and Knowland are expanding their partnership to deliver new data insights that will help the industry better understand key trends, measure performance and plan for the future.
It is the first time that event data such as attendee numbers and the volume of space being booked from Knowland have been combined with group, negotiated and GDS hotel booking data from Amadeus to give both individual and aggregate views of the key drivers of hotel performance. The combined insights delivered by the Hospitality Group & Business Performance Index presents a unique overview of group travel activity in the United States.
Among the key insights from the Q1 2023 Index:
- The overall ‘health’ of the industry has reached 90 percent in comparison to the same period in 2019.
- Corporations significantly lead the way ahead of leisure events or weddings, accounting for more than 66 percent of events held in Q1 2023. The top sectors hosting events were ranked as education, national associations, technology and healthcare sectors, which together accounted for 54 percent of events.
- The average group size booked in Q1 2023 was 119 attendees.
- 70 percent of events that have taken place were for 200 attendees or less.
- The average space booked in Q1 2023 was 3,093 square feet.
- 91 percent of events have returned in comparison to the same period in 2019.
The Index compares figures on a quarterly basis to same-time prepandemic performance in 2019, rolling up the data to score the overall health of the industry. The Index also includes filters to view top event market segments and industries booking group events, allowing hoteliers and DMO/CVBs to closely track trends and adapt their business strategies accordingly.
“As a sales intelligence company, our strength is in our ability to leverage trend data to help hospitality organizations better understand the shifts in today’s market to improve performance," Knowland CEO Jeff Bzdawka said. "Amadeus and Knowland have come together to build a new, first-of-its-kind Index to enable users to understand the relative position of key business drivers so they can make the best decisions to grow revenue and asset value.”
Katie Moro, vice president, data partnerships, hospitality, Amadeus, said the partnership with Knowland demonstrates how Amadeus' industry-leading business intelligence data can support hospitality growth and recovery. "The insights provide a clear snapshot of hotel occupancy and booking trends, along with information on which sectors are meeting, group size and the size of their meeting space," Moro said. "We felt it was important to go one step further with the Index by aggregating the most sophisticated and in-depth data available on the market today and combining it in a way that gives the industry a meaningful benchmark on where recovery has reached. Our ultimate goal is to give hoteliers and DMO/CVBs all the tools they need to develop strong marketing and revenue strategies to increase their market share.”
Learn more about the Hospitality Group & Business Performance Index.