Overview of the Events Industry

Event planning is a dynamic sector of the hospitality industry. In this chapter, you will explore the complexities of producing memorable events tailored to specific occasions, audiences, and purposes. Events – large and small — play a central role in creating exceptional experiences for guests, leaving lasting impressions, and, in the case of mega-events, fostering positive brand associations. Whether it’s crafting the perfect ambiance for a charity gala, ensuring the seamless execution of a dream wedding, coordinating the details of a corporate retreat, or producing the Summer Olympics,  event planning demands a unique blend of creativity, organizational skill, and meticulous attention to detail.

Industry reports suggest that the global event management market is expected to reach $1.76 trillion by 2029.^[1] This includes everything from your aunt’s retirement party to the FIFA World Cup.

The areas expected to grow include corporate events, holiday parties, and professional social occasions such as company picnics and retreats. The US event industry supports 135,000 jobs and employment is expected to grow 7.5% over the next 10 years.^[2]

In the context of hospitality and tourism, events can be categorized into small/medium-scale events, large-scale events, and mega events, each distinguished by their size, complexity, impact, and the resources required for their execution. First, we’ll look at various types of small and medium-scale events and the planning and staffing required to execute them. In the second half of the chapter, we’ll discuss larger-scale events, particularly the meetings, conventions, and expositions market.

Small and Medium Scale Events

Small and medium-scale events typically cater to a more intimate audience and may include personal social events, community events, and business meetings. These events often have simpler logistics, requiring less intricate planning and a more hands-on approach, but they still often require months and months of planning.

Personal Social Events represent a significant part of the events industry. These types of events include weddings and other celebrations such as graduations, milestone birthdays and anniversaries, retirement parties, and showers. They are unique in that they are deeply personal and often highly emotional, requiring careful attention to detail and a strong focus on the client’s vision and desires. Event planners must closely collaborate with clients to understand their vision, cultural traditions, preferences, and budget. Weddings are a particularly important segment: it’s reported that the average couple will spend $22,500 for their ceremony/reception^[3] and that 27% of couples hire a professional wedding/event planner, with day-of planners being the most in demand.^[4]

Charity and Fundraising Events hosted by nonprofit organizations are another significant part of the event planning industry. These events can include formal black-tie galas that raise funds for charitable causes – like the DCC Foundation’s Annual Gala, which raises funds for student scholarships, as well as smaller benefit dinners and auctions, and big outdoor events like walkathons that encourage community participation.

Corporate Events can range from board meetings, networking events, conferences, and seminars to product launches (Apple is known for introducing new iPhones and other product through highly anticipated press events), and employee team-building retreats. Cvent, a leading event technology provider, describes corporate events as “…often staged to communicate company strategy, change internal company behavior, launch a product or service, motivate, train or reward staff, or influence the external behavior of customers towards the brand. In many instances, they bring company employees together, support wider marketing or sales initiatives, incentivize team achievements, or entertain senior leaders.”^[5]

Event Planning 101

There are countless ideas, efforts, and decisions that contribute to an event’s success. Following a detailed event planning process is crucial for ensuring a systematic and successful execution. Each stage of the process, from initial concept to post-event evaluation, plays a vital role in achieving the event’s objectives. A structured planning approach helps identify key elements such as budgeting, venue selection, vendor coordination, and marketing strategies. It minimizes the risk of overlooking critical details, enhances organizational efficiency, and provides a clear roadmap for the entire event team. Additionally, the planning process allows for better problem-solving (and there will be problems!), ensuring that any challenges are addressed proactively.

A quick internet search will show results for a multitude of event planning guides and steps. But to keep things simple, below are the five basic stages of the event planning process:

1. Concept: In the concept phase, the overall vision and purpose of the event are established. It’s a creative stage where ideas are brainstormed, and the foundation for the event’s theme and style is laid. This is also a time to gather research on similar events and determine if the event is a good fit for the organization.

2. Design: The design phase focuses on translating the conceptual ideas into a concrete plan. This involves defining the event’s goals, target audience, key messages, and aesthetics. Design considerations also encompass branding, color schemes, and any audiovisual components.

3. Planning: During the planning phase, logistical details are addressed. This includes selecting and securing a venue, creating a budget, identifying and coordinating with vendors, establishing a timeline, and developing a comprehensive event schedule. Planning involves careful organization to ensure all aspects align with the event’s objectives and budget constraints.

4. Execution: The execution phase involves putting the meticulously planned details into action. This includes setting up the venue, managing logistics, coordinating vendors, and overseeing all operational aspects of the event. Effective communication and coordination among the event team are crucial during this stage to ensure a smooth and successful execution.

5. Evaluation: After the event concludes, the evaluation phase begins. This involves assessing the success of the event against its predetermined goals and objectives. Feedback from attendees, sponsors, and stakeholders is collected and analyzed. The evaluation phase provides valuable insights for improvement, highlights successes, and helps inform future event planning endeavors.

Professional Event Planners & Event Staff 

There are many moving parts when it comes to planning and executing a successful event. A professional event planner is responsible for coordinating and executing a wide range of events, ensuring they meet the client’s objectives and expectations. This role involves meticulous planning, budget management, and attention to detail in venue selection, catering, logistics, and guest experience. Event planners collaborate with clients and vendors, negotiate contracts, and oversee the seamless execution of events, whether they be weddings, corporate conferences, fundraisers, or other special occasions. Successful event planners possess strong organizational and communication skills, creative flair, and the ability to adapt to unforeseen challenges while focusing on delivering exceptional and memorable experiences. Let’s take a look at three types of event planners: independent, in-house, and venue staff.

Independent Event Planner: A professional event planner operating independently typically runs their own business, offering event planning services to clients. They may work on a freelance basis, taking on projects for a diverse range of clients, including individuals planning weddings, corporations organizing conferences, or organizations hosting fundraisers. Independent event planners are responsible for managing all aspects of the event planning process, from initial concept and design to execution and evaluation. They need strong organizational and communication skills, as well as the ability to adapt to different client needs and event types. Click here to read a profile of Hillary Needle, founder and president of Long Island, NY-based Hillary Needle Events Inc.

In-House Event Planner: Some professionals work as in-house event planners employed by a specific nonprofit, company, or association. In this role, the event planner becomes a dedicated member of the organization’s staff, focusing exclusively on planning and executing events that align with the organization’s goals. In-house event planners often work closely with internal teams, understanding the organization’s culture and objectives to create events that resonate with stakeholders. This role requires event planning expertise and a deep understanding of the organization’s mission and values.

Venue Event Staff: Venues, such as hotels, conference centers, or event spaces, often employ their own event staff to assist clients in coordinating events hosted at their facilities. Venue event staff collaborate with external event planners or clients to provide the necessary infrastructure and support for successful events within their spaces. While event venues may vary in size and features available to event hosts, most provide their event operations out of three distinct departments:  catering sales, set-up, and banquets. Each of these departments plays an important role in making sure that all events are a success. Through that success, they help retain established clients and attract new clientele.

The Catering Sales department is responsible for securing new clients, scheduling events, establishing banquet event orders, and maintaining relationships with current clients. They are the event host’s point of contact before and after the event. In addition to planning events and managing contracts, Catering Sales Managers are also in charge of securing staffing for events. They must ensure there are enough managers, set-up staff, servers, bartenders, etc., scheduled for the event to run smoothly. During and after an event, the Sales Managers handle client and guest complaints. It is their job to make sure that any issues are properly resolved as quickly as possible. A Sales Manager’s biggest asset is the ability to communicate effectively. This is vital when it comes to getting all the details from the client and passing them along to the appropriate staff members.

The Set-Up department generally makes things happen behind the scenes, handling the setting up of the event space, including tables, bars, stages, dance floors, etc. They are also in charge of running all the audio-visual (AV) equipment needed for the event. In some venues, they even double as the bar managers, making sure everything is needed for the bar to run smoothly.

The Banquet department is in charge of executing the event. They coordinate food service and work with the event host to meet any urgent needs, maintaining the event timeline and keeping things on schedule. During the event, they become the point of contact for any changes that need to be made.

Whether independent, in-house, or venue staff, event planners must work together to meet the needs of the client or organization. Leadership, time management, and customer service skills are vital in all of these roles.

Large-Scale Events 

Large-scale events, such as conferences, major concerts, or international expos, involve massive audiences and complex logistics. Managing larger events requires extensive coordination, strategic planning, and a sophisticated understanding of crowd dynamics. Budget considerations, marketing strategies, and risk management also become more intricate when dealing with large-scale events, demanding more organizational expertise and coordination among a larger team of professionals.  These types of events are often run by comprehensive meeting management companies.

Many types of large-scale events were highlighted in Chapter 10 because they often bring visitors to a destination. Cultural and entertainment events include  Industry events like the Academy Awards or Grammy Awards, red-carpet film premieres, concerts, and music festivals. Sports Events can be a single NFL football game, the Super Bowl, or the NCAA Championship, as well as global events like the FIFA World Cup and the Summer Olympics. Sporting events can also include fan experiences that create opportunities to engage with athletes and teams, like Major League Baseball’s All-Star Week.  Fairs, Festivals and Parades: While most towns offer a variety of small street fairs and parades, mega events like Mardi Gras in New Orleans, Mexico City’s Dia de los Muertos, or the  Macy’s Thanksgiving Day Parade often draw visitors from across the country and around the world.

Meetings, Incentives, Conventions, and Expositions

Another very significant market within the large-scale event space is meetings, incentives, conventions, and expositions, otherwise known as MICE travel.  These events typically (but not exclusively) focus on business professionals.  The MICE segment is a significant driver of business for the hotel industry. Group sales teams negotiate contracts to establish terms and conditions and create customized packages that include room blocks, meeting spaces, catering service, audio-visual equipment, and other amenities.

For many people new to the travel industry, incentive travel is an unfamiliar concept. The Society for Incentive Travel Excellence has explained that incentive travel is “a self-funding marketing activity that employs unique travel experiences to reward people who achieve exceptional business performance.”^[6] Unlike other types of business events, incentive travel is focused on fun, food, and other activities rather than education and work. Business sectors that use incentive travel include insurance, finance, technology, pharmaceutical, and auto manufacturers and dealers. The incentive travel market is extremely competitive and demanding. When rewarding high-performance staff, Fortune 500-type companies are looking for the most luxurious and unique travel experiences and products available.

There are several types of large scale business events. Conventions generally have very large attendance and are held annually in different locations. They also often require a bidding process. Conferences have specific themes, and are held for smaller, focused groups. It’s worth noting that conventions and conferences are a $100 billion industry.  Expositions or trade shows can be stand-alone events but are usually held as part of a convention. Expositions such as the National Restaurant Association (NRA) annual event held in Chicago, as well as the annual International Hotel Motel & Restaurant Show (IHRMS) in New York City, are two of the largest hospitality and tourism-related expositions held.  The IHRMS is held as a part of the American Hotel and Lodging Associations (AHLA) conference. Expositions give vendors a unique chance to show off their products and services to attendees.  A lucrative market, business conventions, and trade shows generated $10 billion in 2022.^[7]

Convention attendees and exhibitors also use these events for networking, self-improvement (usually through attending information sessions or certification training), entertainment, and last but not least as a chance to get away from work. Attendees often report that they felt more inclined to purchase a product or service if it was featured at an event they attended.

Convention Venues

While many large hotels and resorts host conventions and expositions, no discussion of business events would be complete without noting the importance of convention centers — very large venues that can host thousands of attendees, such as the Jacob Javits Convention Center in New York City. The Javits Center hosts hundreds of events each year, among them public events like the New York International Auto Show and New York Comic Con and industry events like the Specialty Food Association’s Fancy Foods Show and Retail’s Big Show presented by the National Retail Federation.

Convention centers offer expansive floor space that can be configured for various types of events, including trade shows with multiple exhibitors, corporate conferences with breakout sessions, and large conventions with plenary sessions. Venues often include auditoriums, exhibition halls, meeting rooms, and banquet facilities, and offer advanced technology infrastructure. The three largest convention centers in the US are McCormick Place in Chicago, the Orange County Convention Center in Orlando, and the Las Vegas Convention Center.^[8]

Convention centers are significant drivers of local economies and are often integral to a city’s destination marketing efforts. Cities with world-class convention centers are more likely to attract high-profile events, which can raise the city’s profile as a global business and tourism hub. Large-scale events attract out-of-town attendees who contribute to the local economy by staying in hotels, dining in restaurants, and visiting local attractions. This influx of visitors boosts revenue for the hospitality sector and other related businesses.

Key success factors for convention venues include:

• Air access to the destination
• Quality hotels close to or adjacent to the venue
• Quality venue space
• Relative cost of the destination and venue
• Attractiveness of the destination

Because of the important economic impact, many convention centers work closely with a destination’s convention and visitor bureau (CVB). CVBs are destination marketing organizations (usually not-for-profit) that promote visitor and business travel, which generates overnight lodging for a destination.

Other Venues

As meeting planners have become more creative, meeting and convention attendees have become more demanding about meeting sites. No longer are hotel meeting rooms and convention centres the only type of location used; non-traditional venues have adapted and become competitive in offering services for meeting planners. These include architectural spaces such as airplane hangars, warehouses or rooftops, and experiential venues such as aquariums, museums and galleries.^[9]

Conclusion

The events industry encompasses a wide range of event types, from personal milestones like graduation parties and weddings to large-scale conventions and global mega-events. Each category presents unique challenges and opportunities, requiring planners to blend creativity with detailed organization and adaptability. The success of any event hinges on careful planning, effective communication, and the seamless coordination of numerous moving parts, whether through independent planners, in-house teams, or venue staff. As the industry continues to evolve, driven by technological advancements and changing consumer expectations, the ability to deliver memorable, impactful experiences will remain at the core of successful event management. Ultimately, the events industry not only contributes significantly to local economies but also plays a crucial role in shaping cultural and social experiences on a global scale.