TYSONS, Virginia—Cvent announced that group sourcing volume through the Cvent Supplier Network (CSN) set a new record high in 2024, surpassing pre-pandemic numbers for the first time. Approximately $16.5 billion of group business volume was sourced through the CSN last year, driven in part by a 16 percent increase in room nights in 2024 compared to 2019. Early group sourcing trends reflect continued momentum in 2025, driving demand for technology and AI-powered solutions for hotels to manage increased RFP volume.
“Group business is immensely important to the hospitality industry driving both high-margin revenue and occupancy rates,” said Bharet Malhotra, executive vice president and head of hospitality, Cvent. “We were thrilled to see group sourcing volume reach new heights in 2024, and strong early sourcing trends give us confidence that corporate spending on in-person meetings will continue as business leaders recognize it to be a vital driver of business success, growth, and innovation. This will be a boon to hotels and venues around the world as they continue to play a key role in hosting, facilitating, and executing more impactful meetings and events.”
The sentiment is supported by insights from the recently published 2025 Cvent Planner Sourcing Report, which revealed that nearly 90 percent of planners expect the number of in-person meetings to increase in 2025.
Additional report highlights:
- Bigger budgets: 70 percent of respondents expect higher budgets to support larger event programs in 2025.
- Venues in demand: 49 percent are sourcing special event venues, up from 17 percent in 2023. This highlights a renewed focus on delivering attendee experiences.
- Responsiveness key to competitiveness: 80 percent expect a response from a hotel or venue to their request for proposal (RFP) within four days.
- Group and transient no longer isolated: 70 percent of planners say they are also involved in sourcing hotels for their company’s preferred transient hotel program, and 73 percent say they manage the program. The vast majority (87 percent) say it accounts for over half of their time.
The report shows that meetings and events remain important to relationship-building and business growth and offers hospitality professionals insights into how to engage event professionals and attract more group business to their properties.
