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According to Carats & Cake’s First B2B Survey, 87 Percent of Event Venues and Vendors are Optimistic About the State of their Industry Coming Out of the Pandemic

According to Carats & Cake’s First B2B Survey, 87 Percent of Event Venues and Vendors are Optimistic About the State of their Industry Coming Out of the Pandemic

NEW YORK–()–Carats & Cake, the financial operating system for the events industry, today announced findings from its first quantitative B2B survey of event venues and vendors. The results revealed that 2022 restored optimism for the events industry and the wedding market is not slowing down heading into 2023. The Carats & Cake B2B Study gathered intelligence from wedding and events industry venues and vendors to better understand the landscape and priorities coming out of the pandemic.

While the pandemic affected the wedding and events industry greatly, the survey results revealed that 87% of respondents are optimistic about the current state of the events industry. In fact, 67% of respondents are fully booked for 2022 and 78.6% are already booking up for 2023, further showing that this year’s wedding boom is not slowing down. 89.9% of respondents did note that they feel helping their customers manage their budgets is somewhat to very important, making flexible payment solutions of great value given rising inflation.

Coming out of the pandemic, consumers are more cautious as they plan for big events with 57.3% of survey respondents revealing that new contract terms around cancellations are becoming common. 79.1% of vendor and venue respondents have not canceled or rescheduled any 2022 weddings pointing to a renewed sense of stability and confidence in moving forward with large scale events.

The results also revealed that:

  • 87.4% of respondents are primarily booking events with over 75 guests
  • 67.3% of respondents are working on weddings with a combination of indoor and outdoor settings
  • 59.9% of respondents feel the wedding market is “very hot” right now
  • 41.2% of respondents added new service offerings in light of the pandemic

“It’s clear that large scale events are back and bigger than ever. In this market, however, consumers are being even more conscientious about how they spend their budgets and venues and vendors are stepping up to ensure they’re part of the solution,” said Jess Conroy, Founder and CEO, Carats & Cake. “Our venue partners and industry vendors are getting heavily booked and are busy years in advance. Our survey results show that couples, while more aware of potential risks and ways to mitigate them, are feeling confident with booking and making their events come to life.”

To access the full results of the Carats & Cake survey, please visit:

About Carats & Cake

Carats & Cake is the financial operating system for the events industry. Built by industry leaders, Carats & Cake has cultivated nearly a decade of trust with best-in-class businesses. Founded in 2013 and backed by 1Sharpe Ventures, Acrew Capital, Founders Fund, Moore Specialty Credit, Correlation Ventures, GMO VenturePartners, and others, Carats & Cake delivers purpose-built sales tools and financial solutions to transform the $100B events industry.

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Despite FIFA bid fallout, Explore Edmonton optimistic on hosting other big events | Watch News Videos Online

Despite FIFA bid fallout, Explore Edmonton optimistic on hosting other big events | Watch News Videos Online

Global News Hour at 6 Edmonton

One day after the FIFA chose to sideline Edmonton, those who spearheaded the World Cup bid are reflecting on the loss while also looking to the future. As Chris Chacon reports, we may not have scored this one, but that won’t stop our city from trying to host big events.

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B.C.’s live events industry optimistic capacity limit will be lifted Tuesday

B.C.'s live events industry optimistic capacity limit will be lifted Tuesday

Indoor seated venues have been allowed to remain open during the Omicron wave in British Columbia – but since Dec. 21, they’ve had to maintain a 50 per cent capacity limit, and that’s been devastating for their bottom line.

“For us, it limits the revenue we can produce and the number of tickets we can sell for certain movies, and it was particularly harmful over the Christmas period,” said Bill Walker, CEO of Landmark Cinemas.

The Arts Club Theatre has also taken a large financial hit.

“Our finances are based on the capacity to sell up to 100 per cent, so it is a real strain on us to have the reduction,” said associate artistic director Rachel Peake.

Some concerts and festivals that were scheduled for early in 2022 have been postponed because of the capacity restriction.

“The 50 per cent model does not work financially, and we have seen that. Everything that was in the books was cancelled and cancelled and cancelled. So certainly tomorrow we are really hoping we will get the full capacity for indoor seated venues back,” said Paul Runnals with Brand Live Management.

With other provinces now starting to lift capacity restrictions, the live event industry is optimistic provincial health officer Dr. Bonnie Henry will announce an end to the measure in B.C during a press conference Tuesday at 1:30 p.m.

“It would be difficult to imagine how the province doesn’t, as every other province has done just that,“ said Walker. “There are different nuances around masking and vaccines, but overall, every other province is moving back to full capacity, and so we expect B.C. will do the same.”

If that happens, Runnals says live event planners in B.C. are prepared to hit the ground running.

“Many in our sector are poised and ready to go, we are just waiting to get that certainty. And that’s really what we are looking for tomorrow is clarification and a timeline, and then we can take that away and get cracking on things,” he said.

The industry is less concerned if mask mandate and vaccine passport restrictions remain in place.

“We don’t find it to be that difficult or detrimental for us to manage, we are all used to it,” said Walker. Runnals thinks it would be smart to keep those measures in place for awhile longer, while lifting the indoor capacity restriction.

“I think the public are looking for the light at the end of the tunnel, and the confidence we will start seeing our major events coming back,” he said.

Peake agrees the demand is there, and is hopeful the Arts Club Theatre’s next stage show, “Kim’s Convenience,” will be allowed to offer all seats for sale.

“So that’s definitely the ideal scenario. That’s really what we are hoping for at this point,” she said.

The industry remains in the dark about what could be announced at Tuesday’s press conference.

“We have not heard any insights,” said Walker.” Every now and again we will get an advanced look at something; on this, we have no idea.”

With many live events — and livelihoods — now hanging in the balance, Runnals says everyone is anxiously awaiting word, adding: ”Lots of eyes are going to be watching that announcement tomorrow.”