Cvent Group Sourcing Volume Sets New Record in 2024

$16.5 billion of group business value was sourced through the Cvent Supplier Network last year, reflecting increased corporate investment in face-to-face engagement to drive business growth

Initial 2025 group sourcing trends signal a strong year ahead for hotels and special event venues

TYSONS, Va.--(BUSINESS WIRE)--Cvent announced that group sourcing volume through the Cvent Supplier Network (CSN) set a new record high in 2024, surpassing pre-pandemic numbers for the first time. Approximately $16.5 billion of group business volume was sourced through the CSN last year, driven in part by a 16% increase in room nights in 2024 compared to 2019. As one of the world’s largest group hotel and venue sourcing marketplaces, the significant milestone underscores the value that organizations place on meetings and events in achieving critical business objectives. Notably, early group sourcing trends reflect continued positive momentum in 2025, driving strong demand for technology and AI-powered solutions for hotels to more efficiently manage increased RFP volume and exceed planner expectations.

"Group business is immensely important to the hospitality industry driving both high-margin revenue and occupancy rates,” said Bharet Malhotra, Cvent Executive Vice President and Head of Hospitality. “We were thrilled to see group sourcing volume reach new heights in 2024, and strong early sourcing trends give us confidence that corporate spending on in-person meetings will continue as business leaders recognize it to be a vital driver of business success, growth, and innovation. This will be a boon to hotels and venues around the world as they continue to play a key role in hosting, facilitating, and executing more impactful meetings and events."

The positive sentiment is further supported by key insights from the recently published 2025 Cvent Planner Sourcing Report, which revealed that nearly 90% of planners expect the number of in-person meetings to increase in 2025.

Additional report highlights:

• Bigger budgets: 70% of respondents expect higher budgets to support larger event programs in 2025.
• Unique venues in demand: 49% are sourcing special event venues, up from 17% in 2023. This highlights a renewed focus on delivering unique attendee experiences.
• Responsiveness key to competitiveness: 80% expect a response from a hotel or venue to their request for proposal (RFP) within four days.
• Group and transient no longer isolated: 70% of planners say they are also involved in sourcing hotels for their company’s preferred transient hotel program, and 73% say they manage the program. The vast majority (87%) say it accounts for over half of their time.

The report shows that meetings and events remain the cornerstone of relationship-building and business growth and offers hospitality professionals key insights into how best to engage event professionals and attract more group business to their properties.

About Cvent

Cvent is a leading meetings, events, and hospitality technology provider with 5,000+ employees and 24,000+ customers worldwide as of December 31, 2024. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences. Cvent is headquartered in Tysons, Virginia, just outside of Washington D.C., and has additional offices around the world to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the event management lifecycle and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Cvent solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.com.