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Building Connections That Last: Exploring the Rise of Niche Events in the Hospitality Industry
While high-profile events like CES and SXSW often dominate the headlines, a thriving ecosystem of smaller, targeted events caters to specific audiences. These highly specialized gatherings attract attendees with their own particular requirements, customers, interests, and products.
The popularity of these niche events has been steadily increasing in recent years because they align with people's growing desire for personalization and networking in a more intimate setting. Unlike mega-events, where attendees must navigate through a vast sea of content, smaller events offer hyper-personalization, catering to attendee preferences and resulting in higher engagement.
Many people also prefer to gather with a smaller group of attendees in the same niche. They like to be in a crowd of hundreds, not thousands, or dozens, not hundreds. They feel a sense of community in a smaller group as they encounter the same names and faces throughout the experience.
Experiences and community take center stage
The total disruption of the event industry in 2020 called into question the purpose of events in business as a whole and reframed them as more purposeful. Even before the pandemic, events were already shifting away from a focus on content to connections and experiences.
More targeted events thrive in facilitating meaningful conversations. In large conferences, conversations move swiftly, with names flashing by rapidly. Only the most skilled networkers manage to establish a few new connections amidst the flurry.
In contrast, smaller conferences create opportunities for continuous encounters. Attendees frequently encounter familiar faces in chat boxes and breakout rooms. As the conference progresses, genuine connections form, enabling participants to truly engage with individuals and remember their faces rather than just their names.
The millennial influence
Studies show that niche events have gained popularity due to their appeal to millennials. As the largest generation in the workplace, millennials seek less formal and more experiential and intimate learning and networking experiences. They value smaller, more exploratory talks and events that offer personalized opportunities to establish lasting personal connections.
According to a study by Ipsos and CrowdDNA, this tech-savvy group knows online interaction can’t replace face-to-face experiences. Millennials like live events help them gain perspective beyond what they read and make more of an impact. 3/4 of millennials value experiences over things. Nearly 80% say attending smaller live events makes them feel more connected to other people, the community, and the world.
Identifying with more passionate audiences
While it is true that many niche events have a smaller potential audience than the broader markets, these smaller segments tend to be more tightly connected and passionate.
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A sense of belonging. Since there are fewer people, attendees are more likely to be able to personally address and interact with each other as individuals instead of addressing a room full of nameless faces.
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Less pressure: From personal experience, I’ve found smaller events more conducive to interaction. Attendees are less prone to “stage fright” and feel free to speak and ask questions. These experiences feel more like conversations.
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Community. Humans are social creatures; we often feel fulfilled when contributing to our community. With smaller events, creating an environment and activities involving everyone is easier.
All in all, smaller niche events help us connect and create a sense of community among attendees, making for more memorable experiences.
Today, Independent Lodging Congress (ILC) hosts four main events that range from 250 to 350 attendees: INDIE Cultivate (once a year, coming up July 11th and 12th, at The Graduate Hotel, Roosevelt Island, NYC), INDIE Confab (twice a year), and INDIE Congress (once a year, with the next one in San Francisco, October 23 - 25, 2023).
Devoted specifically to the needs of the independent travel and hospitality market, ILC event attendees and exhibitors experience a more immediate and long-term return on investment with events custom-designed to have a genuine impact. ILC events also provide a broader range of location choices, as larger venues may become limited when accommodating tens of thousands of people.
There is still a place for big in-person conferences and tradeshows, which serve a valuable purpose for many attendees, sponsors, and exhibitors. But smaller, specialized events for attendees with a similar job or specialty or who are interested in the same topic are poised to continue growing in the coming years.
About Andrew Benioff
Mr. Benioff has 25+ years’ experience in real estate finance and transactional activities and 15 years experience in the operation and management of luxury hotels. He is the founder of the Independent Lodging Congress, the premier gathering of independent hoteliers, restaurateurs, designers, financiers, investors, tech start-ups and media companies focused on the independent and boutique hospitality sector. Mr. Benioff is also the Founder and Chairman of the Philadelphia Real Estate Council, a nonprofit organization of real estate executives focused on the mid-Atlantic region.
Author of numerous articles, Mr. Benioff has discussed real estate finance in the pages of Scotsman’s Guide, Hotel Business, Hotel Real Estate, and the Cornell Real Estate Review. He has appeared as a guest speaker for the real estate programs of Cornell University, Villanova University, the University of Pennsylvania's Wharton School of Business, and Temple University, and has served as a panelist and moderator at numerous national real estate conferences.
About Independent Lodging Congress
The Independent Lodging Congress offers a vibrant professional community for anyone working with independent hotel assets - whether a first-time investor or industry veteran. The conference is sure to be a valuable forum for professionals working with any independent hotel assets - from mid-scale to super-luxury, in major destination markets and outlying cities as well.