Teneo Hospitality Group, headquartered in Minneapolis, Minnesota, features a diverse, global portfolio of more than 400 hotels, resorts, and destination management companies—all specifically tailored for meetings and events. The hospitality company specializes in helping meeting planners find the right home for their gatherings, offering assistance with each step of the planning process.
Standout properties within the Teneo portfolio include 1 Hotel Hanalei Bay in Princeville, Hawaii, on the island of Kauai, which is noted for its focus on wellness and sustainability and features several on-site gathering spaces for groups; its Kōlea room offers large windows for mountain views and spans 3,080 square feet for up to 207 guests, and its Kukui room is 1,200 square feet in size for up to 86 attendees, to name a couple. Other domestic properties in Teneo’s portfolio include The Venetian Resort Las Vegas in Nevada; Fontainebleau Miami Beach in Florida; The Scottsdale Plaza Resort & Villas in Arizona; Paséa Hotel & Spa in Huntington Beach, California; Fairmont Olympic Hotel, Seattle, in Washington; and many more.
Meetings + Events spoke with Teneo’s President Mike Schugt to discuss what the industry landscape is like from the lens of his company, and how Teneo is reacting and responding to its growth, change, and intricacy.
M+E: What top trends are you seeing in the group travel and meetings and events industries?
MS: We’re witnessing continued growth in group demand, particularly for larger and more complex programs. Planners are extending their booking lead times, securing meetings well in advance. There’s also a noticeable shift towards longer-term planning, with many organizations already committing to events through 2025 and beyond. With 48% of current leads already focused on 2025, the trend toward booking further in advance is not just continuing but also accelerating.
M+E: Why do you think these are peaking?
MS: Several factors are driving these trends. As organizations recover from the peak of the pandemic, there’s a renewed focus on in-person events, leading to an increase in larger programs. Additionally, market dynamics—such as heightened competition for group business in the latter part of 2022 and 2023—are prompting planners to book further out to secure desirable dates and venues.
M+E: How are these trends shaping the future of the meetings and events industry?
MS: These trends are paving the way for a more intricate and dynamic future. With the rise of larger events and earlier bookings, hotels and venues are adapting their operations to meet this demand. This shift emphasizes the need for flexibility, collaboration, and enhanced experiences to align with evolving client expectations.
M+E: How are these trends impacting Teneo and its portfolio of properties specifically?
MS: These trends present significant opportunities for Teneo and our properties. We have seen an 8% increase in group bookings year over year, with room nights booked up by 17%. However, the longer lead times and larger event sizes also bring operational challenges, requiring us to remain agile and responsive to the needs of planners.
M+E: How are Teneo and its properties addressing these trends to support meeting planners?
MS: Teneo works hand in hand with planners and our hotel partners to secure greater flexibility in contract terms, services, and solutions that align with their goals to garner win-win solutions. We hear from our clients that they are pushing hard for executive decision making further out, in order to secure preferred hotels and destinations for key meetings. Our properties also are elevating their event capabilities with renovated space, expanded venues, upgraded technology, and personalized services, ensuring they can meet the evolving demands of today’s complex group events.
M+E: What importance do each of these key trends have in the industry?
MS: These trends highlight the resilience and evolution of the meetings and events industry. The increasing demand for larger events underscores the value of face-to-face interactions, while the shift towards longer lead times reflects a strategic approach to planning. Both trends are crucial for the industry’s ongoing recovery and growth.
