AUSTIN, Texas—Cendyn’s Sales Intelligence platform, once known as Knowland, has reported Phoenix, Arizona, to be leading among the top 25 markets, achieving year-over-year (YOY) growth of 19.7 percent. Las Vegas, Nevada, closely trailed with a 17.7 percent increase, maintaining its position in the top five for the tenth month consecutively. Among secondary markets, South Michigan and the Florida Panhandle were at the forefront, and Kauai, Hawaii, exhibited a substantial YOY growth of 72 percent.
For the very first time in 2024, Phoenix seized the number one spot among the top 25 markets, boasting a strong blend of national associations, technology, healthcare, and finance/banking sectors. Similarly, Michigan South topped secondary markets for the first time, influenced likely by football-related engagements.
- Leading top 25 markets by YOY growth in event volume: Phoenix took the lead with a 19.7 percent increase in event volume during October, averaging 5,612 square feet with 174 attendees, primarily driven by national association occasions (comprising 8.6 percent of total event volume). Las Vegas secured the second spot, influenced by national association meetings and nuptials. The average utilized space for the top 25 markets expanded to 3,902 square feet, with an average attendance of 132.
- Phoenix, Arizona (up 19.7 percent): National association, technology, healthcare, financial/banking, charity/nonprofit/social services.
- Las Vegas, Nevada (up 17.7 percent): National association, wedding, technology, pharmaceutical/biotechnology, healthcare.
- Dallas, Texas (up 17.6 percent): Healthcare, national association, technology, pharmaceutical/biotechnology, education.
- Atlanta (up 17.3 percent): Education, national association, charity/nonprofit/social services, technology, wedding.
- New York (up 16.3 percent): Technology, travel, financial/banking, education, charity/nonprofit/social services.
- Top five secondary markets by YOY growth in event volume: Michigan South saw remarkable growth with an increase of 99.2 percent, probably fueled by university football events. Kauai, Hawaii, entered the top five secondary markets for the first time, with meetings averaging 9,631 square feet and 316 attendees. Wedding events were a factor, along with consulting, education, and national association gatherings. Charity/nonprofit/social services events were secondary influences for three areas. The average space deployed was 3,841 square feet, with an average of 128 attendees. The five rapidly expanding secondary markets and their principal sectors were:
- Michigan South (99.2 percent): Education
- Florida Panhandle (99.1 percent): Retail/online retailer
- Louisville, Kentucky/Indiana (98.2 percent): National Association
- Kauai, Hawaii (72.0 percent): Wedding
- New Mexico North (71.3 percent): Travel
