Meetings industry likely to remain slow, focused on keeping cost down

By Barbara De Lollis
USA Today

Next year, the Association of Certified Fraud Examiners plans to hold 50 percent more training conferences for corporate auditors and consultants. Last month, the Ethics Officer Association saw attendance jump 50 percent at its meeting.

But with few exceptions, recovery is slow and hard to predict for the meetings industry. Hospitality analysts and meeting planners expect the industry — closely tied to the economy and air travel patterns — to hold about steady next year, as many companies and industry groups continue cutting costs.

It's a sharp contrast to some of the profligate spending that marked meetings during the dot-com era.

"Corporations dealing with major ethics issues are not going to spend major money on lavish parties," says Joan Eisenstodt, a Washington, D.C., meeting planner.

Experts say that, in general, meetings are expected to have reduced attendance, shorter duration and less fanfare. Meetings involving golf or beach time are out, while those at facilities with few distractions are in.

Last year, about $93 billion was spent on meetings, incentive travel, conventions and exhibitions, according to the Convention Industry Council, or about 10 percent less than had been expected.