The inaugural Venue Summit, held on 13 May at the Brewery in London, highlighted the changing commercial landscape for venues to around 100 venue professionals.
Natalie Wiseman of research consultancy BDRC provided a insight into the key drivers for buyers and variations between the North of the UK and the South.
Day Delegate Rates (DDRs) in northern regions have been dropping by some six per cent while the South East has remained strong. DDRs in London increased in the first quarter of 2016 compared with the same period in 2015.
The sharing economy was highlighted as a potential challenge to venues, with AirBnb-style space providers becoming increasingly common.
Rory Ross-Russell of Global Conference Network, who organised the event, commented: “There was plenty of interaction and some great discussions, not to mention valuable insight from agents, shared best practice from fellow venues and practical tips for effective contracts and pricing strategies.
“Our initial feedback on the day has been very positive, with delegates seeing the value of having a conference that is dedicated specifically to venue issues. We are delighted with this first event and look forward to developing the programme further for 2017.”