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RIBA – Companies are Shortening Conferences in order to Reduce Costs

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RIBA – Companies are Shortening Conferences in order to Reduce Costs

March 11
18:22 2015
With conference costs increasing, companies are reducing the length of conferences so that they can minimise costs

UK – 09 Mar, 2015 – According to a new report by Capita Travel and Events, event organisers are reducing the length of conferences in order to keep costs down. The Meetings At The Heart Of Travel benchmark report by Capita showed that 82 per cent of meetings are one-day events, with less than one in five lasting for two or more days. This is a continuation of the recent trend and is in line with a trend towards non-residential meetings brought about by the economic downturn. According to the report, Capita expects this trend to change over the next 18-24 months as the market bounces back.

Although external venue bookings have increased by 61 per cent, many of these are at client’s premises rather than specialist conference facilities. The report says that organisations are increasingly optimising internal space and virtual conferencing facilities to reduce costs.

Sam Welch from Capita Travel Events’ said that “our findings show that within mature strategic meeting programmes, there is continued emphasis on the total cost, including items such as equipment and refreshments. But for companies that haven’t yet developed a meetings programme, savings opportunities are being missed.” She went on to say “a good programme and policy encourages people to rethink how, where and when they schedule meetings, and whether they really need to travel, which reduces costs.”

Welch went on to say that “supported by online booking technology that reduces the resources and costs involved in booking company-owned office space and external venues for small meetings, a good programme will far outweigh the investment required to get your programme up and running.”

Key facts from the report include; 36 per cent of meetings being held in purpose-built conference centres or unusual alternative venues. Booking lead times continue to reduce with 42 per cent of small meetings of up to 10 delegates being booked less than a week in advance. 39 per cent of external meetings are held on a Monday or Thursday when rates are typically cheaper. Internal meetings are usually held on Fridays.

Stephanie Ellrott for RIBA Venues, a Central London conference venue, said that “conference trends altered significantly in the recession with people trying to cut costs but now that the economy is on the rise, I expect them to begin to mirror those seen pre-recession.”

For more information just vistit the website

Media Contact
Company Name: RIBA Venues
Contact Person: Stephanie Ellrott
Email: Send Email
Phone: 02073073888
Address:RIBA Venues, Royal Institute of British Architects, 66 Portland Place
City: London
Country: United Kingdom

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