Challenges brought on by the global recession forced the Mice sector to review strategies - but some divine intervention helped deliver one hotel group from the worst of the downturn.
Meetings organised by religious associations and education groups were the salvation of the Hong Kong Gold Coast Hotel, part of the Sino Group of Hotels portfolio.
'During the financial crisis of 2008-2009, companies were cutting down tremendously on their travelling budgets,' says a spokesman for Sino Group of Hotels. 'Most companies resorted to conducting video conferences instead of travelling overseas. It posed a big challenge for the hotel's Mice business, as the crisis mainly affected the finance and banking sector
'Under these circumstances, the Hong Kong Gold Coast Hotel shifted its focus from finance and banking to other potential sectors, such as educational and religious associations.'
The hotel recorded a growth in Mice business of more than 80 per cent for the first part of this year compared to the same period last year, and religious and educational associations contributed substantially.
Though the group successfully weathered the downturn, it noticed 'patterns of business' changing with events becoming smaller, shorter lead times, and event organisers more concerned about price and demanding higher value.
