Room Rates Cvent also reported in June that room rates were on average 14% higher than in January 2021, following a long-term trajectory of increasing rates.
Figure 5. Demand Drives Room Rates Higher
Weighted Average ADR by Week Across Hotel Proposals in CSN, Jan 2021–May 2022 vs. 2019
Source: Cvent Supplier Network
79% of planners expect increases in rates from venues.
Figure 6. Event Planners Expect Higher Costs
For a meeting of the same size/complexity, how do you expect the costs in 2022 to compare with the costs in 2019? (n=661)
35.3%
40
26.9%
30
17.1%
15.9%
20
4.8%
Increase > 20% Increase 11–20% Increase 1–10% Stay the Same
Decrease
Source: Cvent 2022 Planner Sourcing Report: North America Edition
09
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