Numerous industries exhibit distinct seasonal business trends. For instance, in retail, the Back-to-School period from August to September trails only the Holiday Season from late November to December in terms of sales volume.
NB: This is an article from Infor
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Black Friday, the Friday following Thanksgiving in the U.S., signals the unofficial start of the Holiday shopping season. This day is named Black Friday because the surge in retail activity often transitions stores’ financial health from the red into the black by generating profit.
Event and group planning within the hospitality sector mirrors these seasonal trends. Notably, three peak periods emerge: mid-winter (January-February), spring (April-May), and early fall (September-October).
No Rest for the Weary
January witnesses an upswing in new event requests almost immediately after the holiday decorations come down. The start of a new year brings fresh budgets, resolutions to reconnect with loved ones, and newly engaged couples plotting their nuptials. This results in a significant increase in requests for meetings, weddings, and parties compared to December.
Convergence
This heightened January planning activity presents a golden opportunity for event professionals. While January typically sees fewer actual events, it is a critical period for securing bookings for the rest of the year. As depicted in the diagram below, the blue line represents the seasonality of event planning cycles, and the green line shows the seasonality of actual event dates. Winter is a quieter season for hosting events, but it is vital for planning them.
Spring Has Sprung
As winter gives way to spring, event planning activity ramps up. This increase in April stems from multiple factors. High school and college graduation parties spark a wave of bookings as families gear up for celebrations from late April through June. Additionally, outdoor venues and resorts witness a spike in reservations for summer family reunions.
Back to Work
Summer is filled with events, but planning activities typically slow as people focus on vacations and social gatherings. As summer concludes, September and October herald a resurgence in event planning. During what Eventective calls the Holiday Planning Season, parents return to work, and children go back to school, prompting companies to begin preparations for year-end celebrations. Consequently, holiday party bookings surge, making these months pivotal for solidifying the year’s remaining schedule.
Over the Horizon
What accounts for the disconnect between the event planning cycle and the actual event cycle? Events are predominantly scheduled in summer due to its milder temperatures and reliable weather, whereas winter sees fewer events due to travel and work commitments. Additionally, planning horizons differ across event types.
Average planning timelines:
- Weddings: 8-9 months
- Parties: 3-4 months
- Meetings: 2-3 months
- Conferences & Tradeshows: 12 – 14 months
These averages indicate that planners targeting the peak spring/summer season typically submit their requests during winter.
Prep for Success
Group events continue to be a cornerstone of a profitable revenue strategy, and it is no surprise that hoteliers always eagerly anticipate the surge in corporate meetings, social gatherings, and various event-related bookings. This segment typically commands the highest revenue streams thanks to its considerable spending on catering, venue rentals, and technical support. However, maximizing these periods requires that your team has the right sales, catering and event management software.
For many hotels, restaurants, resorts, arenas, stadiums, theatres, universities, and conference or convention centers, the focus on events and group business is constant, year-round. Handling meeting quotas, RFPs, contracts, complex events, and guest satisfaction is challenging, especially given the irregular hours and unpredictable schedules involved.
Amidst surging inflation, escalating energy prices, rising food costs, and persistent supply chain disruptions, hospitality sales management teams are navigating a complex landscape punctuated by acute labor challenges. Increasingly, companies are pushing beyond baseline compensation to secure and retain workforce talent; indeed, the Bureau of Labor Statistics reports that the average hourly wage for employees within the leisure and hospitality sector has ascended to over $20/ hour.
As we anticipate further economic pressures in 2025, strategic investment in advanced event management software will be paramount. Such tools are integral for optimizing operational processes, streamlining workflows, enhancing employee productivity, and maintaining precise inventory control.
Much like retailers gearing up for Black Friday, it is imperative for hospitality professionals to strategically align with the ebb and flow of seasonal trends. With a new year on the horizon, harnessing cloud-based solutions for sales, catering, and event management has never been more paramount. Implementing these advanced systems will streamline each phase of the event lifecycle – automating processes from the initial inquiry to the final invoice. This not only facilitates the seamless and frictionless experiences your patrons and attendees have come to expect but also maximizes operational efficiency and profitability.
From predictive analytics that forecast demand to AI-driven tools that automate routine tasks, the era of technology-driven hospitality sales and event management is upon us. Embracing these innovations not only optimizes productivity but also elevates the overall quality of the experiences, ensuring you stay well ahead of the competition.
