- November 11, 2021
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ARLINGTON, Va. – Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today released a U.S. Meetings Recovery Forecast (MRF) to provide the hospitality industry with predictive insights into event recovery over the next three years. The company will update the model quarterly and the data will be available for anyone to view online. To see the most current projections, visit https://www.knowland.com/blog/.
The MRF demonstrates projected industry recovery patterns and is based on Knowland’s proprietary data and regression models leveraging almost 20 million global events over the last 15 years. The forecast uses a natural recovery model, assuming historic seasonal patterns without major market disruption, to index the recapture of meeting activity compared to baseline levels from 2019. By comparing past data to evolving data trends, hoteliers can better understand relevant changes– and their implications – as the market moves into 2022 and beyond.
Jeff Bzdawka, chief executive officer, Knowland, said: “Knowland’s Meetings Recovery Forecast model is the foundation for future predictive forecasting. It applies the intelligence of machine learning to Knowland’s expanding meetings and events database to generate thoughtful, actionable AI-driven insights for hotels on the regional, local and even property levels.”
Kristi White, chief product officer, Knowland, said:“As we continue to increase our data sources, we have an even better view of the potential recovery path for hoteliers. Data science allows us to compare years of historical seasonal velocity to our latest data models to help hoteliers understand how to move forward into a more profitable future. The Meetings Recovery Forecast offers the hospitality industry guidance on when to start rebuilding sales staff, how to plan for upcoming seasonal variances, and basically – when to turn your re-vamped sales engine back on.”
Knowland is the world”s leading provider of data-as-a-service insights on meetings and events for hospitality. With the industry’s largest historical database of actualized events, thousands of customers trust Knowland to sell group smarter and maximize their revenue. Knowland operates globally and is headquartered just outside Washington, DC. To learn more about our solutions, visit www.knowland.com or follow us on Twitter @knowlandgroup.