The hospitality industry is constantly evolving alongside travelers’ wants and needs. One of the best ways to keep up with the latest trends, innovations, and technology is by attending industry events that connect you with peers, partners, vendors, and more. Whether you’re in marketing, sales, or operations, it’s imperative to continuously learn about best practices for operating more efficiently and meeting new guest demands.
At hospitality tradeshows in 2023, we expect to see new technology that surfaced over the post-pandemic years aimed at helping hoteliers reduce guest experience friction and solutions that help tackle a challenging labor market through automation.
Why attend hospitality events?
At speaking events, industry professionals will share best practices, tips, and strategies you can take away and implement in your business. At tradeshows, you can browse hundreds of booths offering cutting-edge technology and find the right solutions that match the needs of your specific industry.
Networking is critical to improving your business and furthering your career. Exchanging business cards or email addresses at an event can help build connections that eventually turn into business wins or lasting peer relationships. At hospitality-specific events, you can:
◉ Find new businesses, new partnerships and growth opportunities
◉ Learn about the latest industry and technology trends
◉ Meet exhibitors and vendors
◉ Attend training sessions
4 steps for a successful event in the hospitality industry.
Events in the hospitality industry include weddings, business meetings, celebration dinners and fundraisers. The events and meetings industry generated $263 billion in direct spending in 2009, according to a study by the Convention Industry Council. The event planner, owner of a hotel, banquet room manager or restaurant owner all strive to make these events a success from the client's, guests and his own point of view.
Customer satisfaction
As the owner of a small business in the hospitality industry, your first priority is the satisfaction of the client, the person who booked the event and is paying for it. The event must go as planned, with the client's expected amenities, such as the number of tables and chairs, floral arrangements, food, drinks and entertainment. Any problems must be solved quickly without a noticeable impact on the guests. A successful event leads to the opportunity for additional business from the client.
Guest experience
The guests and client may not consider profitability as a measure of a successful event, but the small business owner coordinating or presenting the event certainly does. In most cases, a successful event is a profitable one. There are exceptions. If the event is a fundraiser, the business owner may break even or cover some of the costs as a donation to the charitable organization. Another reason for an event that doesn't make money is when the business owner is breaking into a new market. For example, if he wants to expand his event business from wedding receptions to business events, the first few business events may be planned to result in a loss. He may for example have to offer discount pricing to obtain his first few clients in a new market.
Profitability
Guests and the client may not think of profitability as a measure of a successful event, but the small business owner who coordinates or presents the event certainly does. In most cases a successful event is profitable. There are exceptions. If the event is for financial support, the business owner can cover some of the costs by donating to a charity. Another reason for an event not making money is when the business owner breaks into a new market. For example, if he wants to expand his event business from wedding receptions to business events, the first business events may result in a loss. For example, it may need to offer discount prices to acquire its first customers in a new market.
Perceived Value
The old saying "you get what you pay for" holds true. However, a successful event leaves the client feeling that he got more than he paid for. It may be small touches, such as a bowl of fresh fruit that wasn't part of the continental breakfast menu, cookies at break time of a business meeting or a bottle of complimentary champagne for the bride and groom when they leave their reception. Favorable feedback from the guests also raises the client's perceived value of the event.
Read more: https://smallbusiness.chron.com/successful-event-hospitality-industry-61690.html https://www.cloudbeds.com/articles/hotel-conferences-tradeshows/
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