Seven Reasons to Book Now for Your 2024 Event
If you are still feeling the pain of trying to move or rebook your events from 2020 and 2021 to 2022 and 2023, just wait until we get to 2024. This article reviews the seven reasons to book now for your 2024 event.
As the economy began recovering from COVID, the hospitality industry was more accommodating, trying to survive the fallout from the pandemic.
2022 was a stronger year and the industry began to recoup its losses. Because of this, we’ve moved from a place of flexibility to a place of high demand, low supply, and elevated prices.
We recommend all of our clients who are looking to book in 2024 and beyond to start immediately, and here’s why:
7 Top Reasons to Book Your Event in 2024 Right Now:
Venue and Hotel Availability
Hotels and venues experienced several difficult years surviving the pandemic. Now that demand is back, they are doing their best to fill each date and space with events, in order to become profitable again and fulfill their staffing needs.
Planners who are proactive will increase their odds of being awarded the space and dates for their programs. Those who wait will have to fill the holes that are left, leaving you with fewer desirable meeting room options. Do not wait!
During the pandemic, our world saw a huge shift in redefining career purpose. A new focus on work-life balance that has always plagued the hospitality industry became very apparent.
The hospitality industry was forced to lay off or eliminate so many positions that many employees started brand new careers in different industries (with better hours.)
Although we are starting to see a slow rebound in staff levels, be prepared that it can and will affect your event in 2024. Those who book early can secure the best staff, dramatically impacting the success of your program.
Vendors were hit hard in 2019 and 2020. Companies that provided non-virtual, hard goods like linen, games, decor, floral, etc. were forced to reduce inventory to save costs, merged with other companies or went out of business.
Because of this, there are fewer vendor options available and limited event elements. Do not assume the plethora of elements available in 2019 are still available. Book early to secure your event needs.
Once corporations decided it was safe to meet in person again, the demand was astronomical for services, venues, planning, etc.
However, because the hospitality industry was severely crippled and permanently altered from the pandemic, it was hard to turn the switch back on to full speed.
We recommend our clients get ahead of the demand and book early to save themselves the headache of elements not being available or increased pricing.
Rates and Pricing
The longer you wait, the more likely pricing will increase. With each year that has passed, pricing has increased due to inflation, staffing availability (paying higher to get staff), higher hotel rates, increased food and beverage costs, etc.
Do your best to lock in pricing early when contracting event elements.
Top Quality Event Professionals
Nothing can kill a successful program faster than not having a professional planner or producer.
Experienced, knowledgeable, stress-free planning offers so much to the corporate marketing executive or internal planner in charge of the event and provides an element of ease to the process of achieving your corporate event goals.
The pandemic shifted many skilled professional planners to different industries.
The options to hire a corporate events agency or professional planner are now much more limited.
Do not risk your corporate event on an inexperienced planner. Make your event successful with a professional and polished planner!
Event Design and Production Time
Branding is a key element to every corporate event. Your event should be filled with messaging and branded elements that fulfil your event goals.
If you do not allow enough time to design, print and install elements, you will add rush fees or eliminate the possibility of utilizing the branded elements at all.
In our experience, printing companies are also short-staffed, and short on product options, impacting turn-around time. Start early!
Best Practices to Follow
- If your event goals are clear, don’t wait to start the process.
- Stick with quality partners. Experience over price will always provide successful outcomes.
- Do not assume! Do not assume that vendors will have what you want, do not assume that quality staff will be ready and willing to work, do not assume that turn-around time will be the same and do not assume that it is business as usual.
- Book early.