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Meetings said to contribute $130 billion to U.S. travel industry

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February 16, 2014

Meetings said to contribute $130 billion to U.S. travel industry

Hospitality News: Marriott has launched Workspring, a new set of meeting rooms that have more comfortable seating and natural light, as well as areas where attendees can grab food at any point during the day. Source: MarriottMeetings hosted by businesses, associations, nonprofits and governments contribute $130.2 billion to the U.S. domestic travel industry, PricewaterhouseCoopers (PwC) said in a report.

Hotels in 2012 generated $39.3 billion in revenue from meetings attendees, while food-and-beverage operators generated $29.8 billion, PwC said. Airlines generated $23.8 billion in revenue from meetings attendees that year.

An additional $150.2 billion is generated via meeting planners, production, venue rentals and other non-tourism services.

PwC said the report, which was prepared for the Convention Industry Council, is the first of its kind, so year-earlier comparable figures aren?t available.

PwC estimated that 1.83 million meetings hosted 224.9 million attendees in 2012. About half of the attendees went to meetings hosted by corporations, while 26% percent attended association and membership-hosted meetings.

Nonprofits and government entities conducted meetings that were attended by 23% and 2% of U.S. attendees, respectively.

Source Travel Weekly, http://www.travelweekly.com/Travel-News/Corporate-Travel/Meetings-said-to-contribute-$130-billion-to-US-travel-industry/

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