Secondary Markets Surpass High 25 — LODGING


ARLINGTON, Virginia—Knowland reported conferences and occasions in secondary markets outpaced the normal High 25 markets in January. Most notably, the best progress High 25 market, Nashville, Tennesee, was up 16.1 p.c, whereas prime progress secondary market metropolis, Lexington, Kentucky, had a 76.4 p.c uptick in conferences and occasions for the month. This implies a development that signifies assembly planners are generally choosing secondary locations to cut back prices.

When evaluating the highest 25 and secondary markets for trade phase efficiency, each the highest 25 market, Los Angeles, and the secondary market, Columbus, Ohio, led in schooling phase occasions. High 25 market Orlando, Florida, noticed essentially the most know-how and healthcare conferences in January, with Austin, Texas, main in secondary markets for these trade segments. The typical house used for conferences within the High 25 markets was 3,426 sq. ft, whereas secondary markets had been barely much less at 3,000 sq. ft. Common attendees had been 124 within the High 25, whereas secondary markets averaged 118 attendees.

  • Top 5 markets by YOY progress in occasion quantity: Nashville ranked highest within the High 25 U.S. markets, internet hosting know-how and healthcare.
    • Nashville (up 16.1 p.c): Know-how, healthcare, nationwide affiliation, manufacturing, pharmaceutical/biotechnology.
    • Detroit (up 10.4 p.c): Training, monetary/banking, manufacturing, healthcare, state affiliation.
    • New Orleans (up 7.8 p.c): Nationwide affiliation, know-how, healthcare, coaching/schooling, charity/nonprofit/social providers.
    • San Francisco-San Mateo (up 7.3 p.c): Pharmaceutical/biotechnology, monetary/banking, know-how, nationwide affiliation, healthcare.
    • Tampa-St. Petersburg (up 5.3 p.c): Nationwide affiliation, know-how, manufacturing, healthcare, charity/nonprofit/social providers.
  • High 5 secondary markets by YOY progress in occasion quantity: Whereas schooling and state associations had been large in Lexington, Kentucky, the next 5 high-growth secondary markets and prime industries had been:
    • Lexington, Kentucky (up 76.4 p.c): Training
    • Syracuse, New York (up 34.6 p.c): Social/sports activities
    • Richmond-Petersburg, Virginia (up 33.4 p.c): State affiliation
    • Oklahoma Metropolis, Oklahoma (up 29.1 p.c): Know-how
    • Louisville, Kentucky (up 24.1 p.c): Nationwide affiliation

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