TYSONS, Virginia—Cvent introduced that group sourcing quantity by way of the Cvent Provider Community (CSN) set a brand new document excessive in 2024, surpassing pre-pandemic numbers for the primary time. Roughly $16.5 billion of group enterprise quantity was sourced by way of the CSN final yr, pushed partially by a 16 % improve in room nights in 2024 in comparison with 2019. Early group sourcing tendencies replicate continued momentum in 2025, driving demand for know-how and AI-powered options for accommodations to handle elevated RFP quantity.
“Group enterprise is immensely essential to the hospitality trade driving each high-margin income and occupancy charges,” mentioned Bharet Malhotra, government vp and head of hospitality, Cvent. “We had been thrilled to see group sourcing quantity attain new heights in 2024, and powerful early sourcing tendencies give us confidence that company spending on in-person conferences will proceed as enterprise leaders acknowledge it to be an important driver of enterprise success, development, and innovation. This shall be a boon to accommodations and venues around the globe as they proceed to play a key position in internet hosting, facilitating, and executing extra impactful conferences and occasions.”
The sentiment is supported by insights from the lately revealed 2025 Cvent Planner Sourcing Report, which revealed that just about 90 % of planners count on the variety of in-person conferences to extend in 2025.
Extra report highlights:
- Larger budgets: 70 % of respondents count on increased budgets to help bigger occasion packages in 2025.
- Venues in demand: 49 % are sourcing particular occasion venues, up from 17 % in 2023. This highlights a renewed concentrate on delivering attendee experiences.
- Responsiveness key to competitiveness: 80 % count on a response from a resort or venue to their request for proposal (RFP) inside 4 days.
- Group and transient now not remoted: 70 % of planners say they’re additionally concerned in sourcing accommodations for his or her firm’s most well-liked transient resort program, and 73 % say they handle this system. The overwhelming majority (87 %) say it accounts for over half of their time.
The report reveals that conferences and occasions stay essential to relationship-building and enterprise development and affords hospitality professionals insights into easy methods to interact occasion professionals and appeal to extra group enterprise to their properties.
