November meetings volume in the United States surpassed prepandemic levels for the first time, recovering to 103.1 percent of November 2019. According to meetings and data provider Knowland, events held last month saw a year-over-year growth of 122.5 percent, but declined by 11 percent from October 2022.
"Recovery has been increasing since the beginning of the summer, but this is the first time we exceeded 2019 levels," said Kristi White, Knowland's chief product officer. "While November did decline from October, this is normal seasonality and was less than we have seen month-over-month this time of year. The message is clear: Recovery is here and most hotels should now be entering organic growth, strategically positioning themselves for an even better 2023."
The number of attendees per event also exceeded prepandemic levels, with an average of 118 people, compared with 104 in November 2019 and 105 in November of last year. Average space for used for each meeting increased slightly from 3,009 square feet in 2019 to 3,028 square feet this year. However, given the larger attendance, square footage per person dropped to an average of 26 square feet compared with 2019's 29 square feet.
Last month, the corporate segment made up 53.5 percent of the events industry, with health care once again leading as the largest sector. Last month, associations represented 12 percent of the industry, compared to 12.5 percent in October. The sectors that saw the most recovery were online retail, urban infrastructure, sports entertainment, construction and transportation.
The markets with the largest month-over-month growth were, in order, Las Vegas; San Juan, Puerto Rico; Fort Myers, Fla.; Miami; and Kauai, Hawaii.
To compile these reports, Knowland analyzes data collected and aggregated from both customer and noncustomer venues, field reporting and its historical database.