Is your price right?
There are two important dynamics that are happening right now in our industry:
- Average bookings levels are dropping for the first time since Jan 2021 (that is five straight quarters of bookings going up)
- The Average Price Per Head is rising.
So, let us be clear. Bookings are going down, and prices are going up.
My intention is not to be a doom monger. The market is still very buoyant. However, I am saying that the indicators are that things are about to change and get potentially quite choppy.
Let us also look at some other factors influencing the market:
- Inflation
- Cost of living
- Threat of recession
- The threat of interest rates rising
- Prices rising across the board
- Staff shortages
- Supply chain constriction
- ….that’s quite a lot to contend with.
Now more than ever, you need maximum information about the future to drive your decision-making. Watching the numbers is going to be crucial when it comes to decision-making.
That’s why we’re launching a FREEMIUM version of Venue Performance.
Over the last few months, we’ve been engaged with many venue associations, hotel groups, and government departments wanting to contribute and access Venue Performance’s benchmarking data.
It’s clear to us that we can help those venues and hotel groups and their associations use the data to make better decisions and feed the collective data into the government.
The data could even help with government policy. Watching the two potential PMs debate, it’s clear that one wants to be fiscally prudent, whilst the other wants to create the right economic conditions for growth.
Imagine having the data to support our message that our sector is growing? Our message to the government has got to be “allow us to grow”. Look at our numbers. Believe in us, invest in us, and we will repay UK plc many times. Imagine if we had the data to back that up? Imagine we had the data to prove it?
Well, we have the platform and Venue Performance is investing heavily in helping EVERY M&E business to contribute, benefit and prove to the government that we are a safe bet.
We believe Venue Performance has a duty to make our platform accessible to the whole market, which is why we have boldly decided to invest and create/offer a FREEMIUM entry level.
So join us. Use the numbers for your own benefit and insight, and at the same time, help scratch everyone’s back and prove to the government that our sector is worth investing in.
And as always, if you would like your own personalised tour of the data, please let me know. I’d be only too happy to show you where the evidence lies.
Happy holidays. Good period for planning….
