Meetings
More than half of 516 surveyed meeting planners expect lower 2010 budgets for off-site meetings
, with two-thirds saying their budgets had been cut for 2009, according to a poll by the Professional Convention Management Association, Ypartnership and American Express. Surveyed in April and May, meeting planners on average said they would book 19 fewer meetings in 2009 than in 2008, and 15 fewer in 2010, though 47 percent expected their meetings activity to remain unchanged. The top reason cited for meeting cancellations and postponements during 2009 and 2010--which on average will incur $81,000 in cancellation/rebooking fees among respondents--was "current economic conditions" (41 percent), followed by "current downsizing/consolidation" (22 percent). Eight percent cited "current negative media coverage about the meetings industry." Resorts and luxury accommodations are seeing the most significant negative impact of curtailed meeting activity while airport hotels are picking up business, according to the survey.