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94% of Unique Venues of London members remain optimistic about 2016 business outlook

Wednesday, March 9, 2016 - 11:30

In a recent survey conducted by Unique Venues of London, analysing the 2015 performance of the association’s membership, 94% of the 67 venues which completed the survey indicated an optimistic outlook for 2016. 86% of that number also predicted an overall increase in event revenue in 2016.

The key finding of the survey focused on the fluctuations according to sector, with 45% of venues reporting an increase in conference and meetings business as well as a 47% rise in dining events and reception enquiries, indicating that corporate budgets remained secure in 2015. Exhibitions, weddings and private party enquiries also experienced growth amongst the membership.

Of particular note, mid-sized and larger venues saw a sizeable increase in dining events and receptions, with 57% reporting growth – this result was reflected in conferencing and meeting bookings.

Growth was not just registered in terms of bookings and revenue, but also physically, with a sizeable number of member venues reporting a requirement for more event space in 2015 (22%). This is manifested as either new room builds or making more of the venue’s site available, in response to market demand.

Commenting on these results, Moya Maxwell, chair of Unique Venues of London, said: “With 496 separate event spaces to choose from, Unique Venues of London managed £77M of business in the last 12 months, accommodating an impressive 20,800 events, and the results of 2015’s member survey give some very positive indicators for the year ahead.

“These findings reinforce the strong start we have had to 2016; we have already registered a sizeable increase in event enquiries, up 12% for January and February in comparison to the same period last year. There is an increasing demand for venues with character, as bookers look for an alternatives to purpose-built spaces. At an all-time high of 82 member venues, London’s unique spaces are increasingly seeing the value in our consortium and the work we do. It is our intention to expand further this year and look forward to welcoming more of the capital’s iconic buildings into the Unique Venues of London family.”