Wyboston Lakes Resort directors reflect on the year to date in the meetings and events sector
“The trend for fewer small events is still there to see, but larger programmes are growing larger and are happy to spend on additions and upgrades. This is likely to continue.”
Richard Smith, Chief Commercial Officer of Wyboston Lakes Resort captured the overriding view of the Resort’s Senior Leadership Team when they recently reviewed trends in the first half year and forward prospects in the UK meetings and events market.
CEO Steve Jones reinforces this, adding “We see organisations choosing either a higher end offering which focuses on the experience or a simple product at a great value price.”
Marketing Director & Sustainability Lead Louisa Watson commented “Customers are being much more intentional about their meetings and events. If they are going to invest in bringing people together, they want that time to really count. They’re thinking about the whole experience, how people interact, how the environment makes them feel and ultimately what they take away from the event.”
Reflecting on the market, Richard Smith said: “Demand for medium to large residential events is good but moving from enquiry to contracting commitment is taking time.”
Steve Jones suggests that this short-term slowdown in demand and/or in conversion is due to uncertainty from government and in the economy.
Operations Director Simon McMahon adds “there is also a need for venues to be flexible to attract new events and clients. We’re seeing customers challenge us more, which I think is positive. They want flexibility, creativity and added value, while still having very clear expectations around quality and service.”
Ahead of last year
Wyboston Lakes Resort has experienced a good start to the year. Chief Financial Officer Julie Ireland sums it up saying “At the half year we’re ahead of last year across every key measure, with both revenue and profitability showing solid year on year growth. Against a backdrop of continued economic and geopolitical uncertainty, that represents a resilient first half performance.”
An important development boosting prospects for the rest of the year and beyond was the recent opening of The Box, the venue’s new large, open creative space for exhibitions, gala dinners and conferences for 400 or more delegates. The beam Forum in July was the first event to make the most of it.
“The Box hosted three events in its first month and we have several major events contracted for rest of year and into 2027 for a mix of large plenaries, exhibitions or themed dinners. It’s a great start,” reports Richard Smith.
Looking ahead
Looking ahead, prospects for the venue overall are encouraging with forward bookings (both contracts and provisionals) for 2027 running 27% ahead of where they were in 2026 at the same point.
Considering what will shape results in the wider M&E market over the coming months, both Richard Smith and Steve Jones see performance as the key factor.
Smith suggests “Performance for venues will be dictated by not seeing clients as commodities but as partners who will be creative and supportive in helping them steer their way through wider economic challenges.”
Jones says “Bookers have choice and if venues aren’t at the top of their game pushing the standards in the segments that they are strongest in, they will miss out.”
Louisa Watson echoes this; “Customers will continue to expect more from their venues and partners, so venues can’t afford to stand still. We need to keep investing in our product, our people and the experience we deliver, while listening closely to what customers actually need. Those businesses that remain agile, continue to innovate and consistently deliver a great experience will be best placed to perform strongly.”
She sums up “I think confidence will be one of the biggest factors shaping the market over the coming months. There is clearly still uncertainty out there, but there is also a real appetite for bringing people together and for creating events that have impact.”
For more information, please visit www.wybostonlakes.co.uk/
