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The Business of Events

Trends change. Expectations change. Events change.

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Maybe it’s a distant memory in the rear view mirror, but more than most industry sectors and businesses, the big (and tricky) business of event planning and management was hit particularly hard by COVID disruptions. Unlike other businesses fortunate enough to just turn the lights back on, open the doors, re-group, resume and recover, the event planning rebound is still dealing with speedbumps.

Cautious corporate clients. Shrinking budgets. Staffing. The impacts of technology. Shifting consumer trends. It’s no longer “just schedule a convention and they will come.”

From thousands of convention attendees mingling with long lanyards and dangling name badges to sprawling global trade shows and lively team building events, the business of event planning and management is being transformed.

Emma Pietroleonardo, general manager of the Edmonton Convention Centre is a savvy and Edmonton-focused event professional, with much local experience.

“Corporate clients are indeed approaching events differently now. Budgets have tightened, prompting groups to seek the best value for their money. Additionally, we have noticed a trend towards shorter lead times for bookings. Where clients used to book events six to eight months in advance, they are now more likely to commit within a four to six month or less window for planning.”

Event planning experts echo the concern that the new trend of making decisions on events for hundreds to thousands of people with only a few days’ notice is not uncommon, even though it can get difficult to meet and respond to the short notice, considering the scale, the labour pool and the supply chain even planners must deal with.

“This shift likely reflects the need for greater flexibility in a constantly changing business environment,” she adds.

According to Sue Mercer, president of the Canadian Association of Event Planners (CanSPEP), the leading voice in Canada’s event industry, there are dramatic changes in the art and science of event planning and management.

“There are budget restrictions, last minute registrations and no-shows which make event planning very difficult and corporate clients waiting longer to commit to destinations and venues, limits availability, and also restricting the total amount of time to plan and execute.

“There is also increased interest and demand for sustainable events,” she adds, “with special emphasis on reducing food waste, a demand for memorable, curated experiences, event programs that include blocks of non-scheduled time, highlighting local destinations (food as well as activities) and lots of interest in technology and how AI can benefit the event planner experience.”

Event professionals are embracing the role of technology in the business of event management. The hybrid event evolution trend combines both physical (in-person) and virtual (online) participation in contemporary events. Many event clients are realizing the value and benefits of reaching a broader and more diverse audience by incorporating virtual components into events, and mobile technology continues as an essential event management feature, changing how people attend events, access event information as well as routinely using smartphones and laptops while participating in the event.

However, some things don’t change.

While the crowds, the buzz, and the excitement get most of the attention, event planning professionals underscore that – beyond the thunderous applause for the keynote speaker, the display booths of freebie samplers, the spontaneous lobby huddles, the clapping for award winners and the socializing – event management is (and always has been) a potent business, particularly for the local economy.

It’s a reason why most cities, like Edmonton, have small armies of municipal economic development reps, beating the drums and pitching to host big and small events. Surveys show that event participants drop an average of more than $900 per visitor in the event’s host city.

Stats and trending from Meetings Mean Business Canada, the advocacy voice of the Canadian meetings and business events sector, show the important economic, social and legacy impacts of conferences, conventions, trade shows, exhibitions and large business meetings.

Nationally, events account for more than 40 per cent of all tourism spending in Canada, have a $47B direct economic impact and a $27.4B direct GDP impact. Additionally, events create 242,000 direct jobs.

As the event planning and event management sector continues to rebound and reinvent itself, the struggle is by no means over for some catering companies. One thing small, private events and major events have in common is the essential ingredient of food.

When restrictions on group sizes went into effect, many events were either cancelled, postponed or moved online. Caterers lost too many contracts and, despite the recent event business recovery, some caterers did not survive.

There are new ways of doing things with the planning and management of Edmonton events, but Pietroleonardo sighs relief in noting that the COVID curse no longer lingers in Edmonton’s event planning business.

“In 2024, the conversation around COVID has effectively ended in Edmonton’s event industry. While some clients still expressed hesitation in 2023, this year has seen a decisive move away from any pandemic-related concerns.

“We anticipate that by mid to late 2025, the industry will be fully back to normal, with no residual effects from the pandemic influencing event planning or execution. Event and catering trends have bounced back and evolved to emphasize customization and networking opportunities. There is an increasing demand for extended networking periods within events, underscoring the value that attendees place on interpersonal connections,” she says with positivity.

“This trend aligns with a recent societal shift towards prioritizing human interaction in professional settings, especially in a post-pandemic world where face-to-face engagement is once again being celebrated.”

“Additionally, there is a noticeable shift towards a la carte ordering,” she adds, “with clients seeking tailored experiences that deviate from the traditional, one-size-fits-all catering model. This move towards customization underscores the industry’s trend towards personalization, as clients seek to create unique and memorable experiences for their event attendees.”

There are new trends and new ways of staging successful events. The Edmonton area caterers who survived the COVID broadside have moved forward and continue to innovate and dazzle. Event planning and event management is still a risky business but an exciting, good business.

Pietroleonardo enthusiastically notes that Edmonton and Explore Edmonton are set to host several major events that will draw attention to the city’s capabilities as a premier event destination.

“This month’s Canadian Finals Rodeo will be a standout annual event, showcasing the Edmonton’s rodeo roots. Looking ahead to next year, there is the 50th Anniversary of the Canadian Land Reclamation Association (CLRA) in March, attracting industry professionals from across the country.”

She adds, “The Pentecostal Missionaries Church of Christ gathering in May will draw over 2,000 attendees and highlights Edmonton’s appeal as a venue for large, faith-based gatherings and the big Wildlife Society event in October 2025 will further cement Edmonton’s reputation as a host city for specialized, large-scale conventions.”

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