According to the latest event economy tracker from the event business, the UK conference venue closed strongly in 2024 despite slowing event bookings and revenue per representative.
In the Q4 2024 report, which uses data provided by venue performance from a sample of 350 venues across the UK, revenue per representative, including other expenses such as venue employment, F&B and AV employment, slowed to £140.72 in the last three months of last year.
The third quarter 2024 survey results showed a significant increase from £114.30 reported in the first quarter 2024, representing a strong end of the year, reflecting improvements in market conditions.
Following a record high of 35 by September, the average number of confirmed events per venue has also been slower in the last three months of last year.
The fall budget and uncertain geopolitical landscape may have contributed to this slowdown, but the number of confirmed events in November equaled the same period in 2023.
In December 2024, forward bookings were virtually non-existent, but once again reached an all-time high in September. This shows that the 2025 conference and event programme was created much earlier than before.
Peter Heath, performance managing director for the venue, said: “The data for the fourth quarter 2024 should be seen in the context of the entire year, with comprehensive bookings to surge before the general election as planners close the lock on economic uncertainty.
He added: “Demand for events led delegators’ figure-by-number revenues to hollow year-round. The year ended significantly despite a slowdown towards the end due to a surge in activity in September.”
To download and read Event Economy Tracker Q4 2024 from the leading think tanks and advocacy networks in the business event sector, see Event Business.
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