News » London City Selection
Thursday 9th February, 2017
London City Selection Drives Business Growth for Members
The City of London’s venue consortium, London City Selection (LCS), has announced the results of its 2016 annual member survey, revealing a positive outlook for the majority of its 29 venues with 75% reporting an increase in business over the year.
Of those questioned, 69% of venues reported an overall rise in meetings and events held during 2016 with 56% reporting a growth in Christmas parties, 19% recording an increase in summer events and 44% reporting a rise in the number of weddings hosted, underling the widespread versatility and appeal of the unique, modern and heritage venues that make up the collection.
When asked to review their business channels, the survey revealed that direct corporate bookings represented 81% of all member venue business in 2016 with only 6% of venues’ business coming via agencies. With direct marketing and networking continuing to drive referrals across the collection, some 62% of members confirmed securing business as a direct result of being part of the LCS consortium. In addition, 80% of venues reported to have confirmed business through the LCS website and 40% as a result of LSC’s networking and agency events.
London City Selection Chair, Oliver Hargreaves comments, “Against an uncertain economic backdrop in what remains a highly competitive market, it’s encouraging that our annual member survey results reveal positive business growth for the majority of our venues year on year with the LCS consortium adding considerable value to their overall performance.”
Oliver continues, “I’m also delighted to see that whilst 75% of our members join LCS for sales generation, more than 80% of our venues cited the sharing of knowledge, best practice and general support they enjoy as a result of the consortium as the key driver to repeat membership, demonstrating our value to the wider market.”
Paul Martins, Director of Sales at Cavendish Venues, a member of LCS since 2010, comments, “Last year alone we received 135 enquiries through the LCS website portal alone, which contributed towards £92,631.82 revenue made through LCS channels such as the BNC Event Show, so the network is a vital source of revenue for us. Whilst we have a robust marketing strategy in place ourselves, being part of a consortium like LCS allows us even greater visibility in the market and access to a wider pool of event organisers who are specifically attracted to the square mile. It's a valuable investment for us.”
The 29 venues currently within the London City Selection include 47-58 Bastwick Street, 58VE, America Square-Cavendish Venues, Baltic Exchange, Barbican, Bishopsgate Institute, CCT Venues Barbican, City of London Club, Crowne Plaza London Kings Corss, etc.venues - St Pauls, Furniture Makers' Hall, Gibson Hall, Guildhall, The HAC, DoubleTree by Hilton Tower of London, Ironmongers' Hall, LSO St Lukes, The Mermaid, Middle Temple, The Montcalm London City, Museum of London, One Moorgate Place, Plaisterers Hall, Sadler's Wells, St Brides Foundation, St Pauls Cathedral, The Steel Yard, Thistle City Barbican and Trinity House.
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