Knowland: Louisville, KY's YOY event volume doubled in July
Philadelphia led the top 25 markets with 27.7 percent growth
By Vishnu Rageev RSep 01, 2024
LOUISVILLE, KENTUCKY’S EVENT volume doubled to 94.9 percent year-over-year in July, according to Knowland. It is Louisville's fifth month in the top five secondary markets this year.
Philadelphia led the top 25 markets with 27.7 percent growth, driven by a National Education Association event and several state-level education associations, according to Knowland.
Louisville has become a key meetings hub in secondary markets, with an average of 4,935 square feet used and 119 attendees, while Philadelphia averaged 3,066 square feet and 117 attendees, the report said. Secondary markets grew by an average of 6.9 percent, compared to 3.6 percent for the top 25 markets.
Additional insights into the top industry drivers for these markets:
Philadelphia (up 27.7 percent): National associations, charity/non-profit/social services, state associations, education, and religious events
Denver (up 27.2 percent): Technology, national associations, charity/non-profit/social services, training/education, and healthcare
Las Vegas (up26.5 percent): Sports entertainment, national associations, education, entertainment/media, and weddings
Nashville, Tennessee (up 12.8 percent): Technology, national associations, healthcare, manufacturing, and reunions
Phoenix (up 12.8 percent): National associations, training/education, healthcare, sports entertainment, and technology
Louisville led secondary markets, driven by national association meetings, Knowland said.
The top five high-growth secondary markets and their leading industries were:
Louisville (94.9 percent): National association
Lexington, Kentucky (48.5 percent): Education
Sacramento, California (46.2 percent): Education
Madison, Wisconsin (42.1 percent): National association
Charlotte, North Carolina (41.1 percent): Reunions
In June, Knowland reported that Las Vegas led meeting volume growth with a 22.2 percent year-over-year increase for the second consecutive month, followed by St. Louis with a 12 percent year-over-year growth.
Sonesta launched Americas Best Value Studios, an extended-stay version of ABVI.
The model targets owners seeking limited front desk and housekeeping.
The brand meets demand for longer-term, value-focused stays.
SONESTA INTERNATIONAL HOTELS Corp. launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn. The model targets owners seeking limited front desk and housekeeping, optional fitness center and lobby market along with standard brand requirements.
The brand aims to address the growing demand for longer-term, value-driven accommodations, Sonesta said in a statement.
"Americas Best Value Studios by Sonesta represents a strategic evolution of our trusted Americas Best Value Inn brand," Keith Pierce, Sonesta’s executive vice president and president of franchise development, said. "We are expanding our offerings to directly address the increasing demand within the extended-stay segment, providing a practical solution for travelers seeking longer-term lodging at value. This new brand type allows our local franchised owner-operators to tap into a growing market while maintaining the community-focused experience that Americas Best Value Inn is known for."
ABVI has a majority presence in secondary and tertiary markets, the statement said.
The extended-stay brand’s operational model features a front desk, bi-weekly housekeeping, on-site laundry and pet-friendly accommodations, Sonesta said. Guests can also earn or redeem points through the Sonesta Travel Pass loyalty program.
In August, Sonesta named Stayntouch its preferred property management system after a two-year review of its ability to support the company’s franchise model. The company operates more than 1,100 properties with more than 100,000 rooms across 13 brands on three continents.
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