The Time Is Now: MICE and business travel are on the rise

Over the past few decades, business travel has experienced a significant rise as companies expand their operations globally and seek to tap into new markets. In parallel, the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry has also grown in importance, providing a platform for businesses to connect, network, and promote their products and services to a wider audience.

The emergence of new technologies, such as video conferencing and virtual events, has impacted the business travel and MICE sectors, but they remain critical for building relationships, closing deals, and fostering innovation in a highly competitive marketplace. As the world continues to recover from the COVID-19 pandemic, it remains to be seen how business travel and the MICE industry will adapt and evolve in a new era of remote work and virtual collaboration.

Travel Daily Media has spoken with Wai Seat Khor, Assistant Director of Sales, Four Points by Sheraton Puchong, about the rise of business travel and MICE after the pandemic. Khor’s career in hospitality spanned more than a decade and his experience in sales and events management prepped him for his current role in Four Points by Sheraton Puchong and he claimed it helped him grow and look at the industry in a bigger picture.

Travel Daily (TD): Business travel is on the uptick. What are the insights you can share?

Wai Seat Khor (WSK): With more and more countries opening up their borders, the market is full of opportunities. Overall, the industry is looking optimistic although budgets for event organisations are affected by inflation. Lead time is shorter compared to pre-pandemic periods, but with the increase in demand, timing is crucial for the decision-maker and the account manager to close the business. Event technology is still important to hold mega conferences and for cost-saving purposes.

TD: What are the hospitality and MICE trends that you are seeing in 2023? How do you plan to capitalise on those?

WSK: The MICE outlook is optimistic with more in-person events back in action. However, we need to exercise some caution with the rising prices due to inflation. Meeting planners will look for a simplified meeting planning and execution process and have a seamless meeting experience. The use of event technology is a must during this post-Covid period with the emergence of hybrid meetings.

TD: Sustainability is big right now. How is Four Points by Sheraton Puchong doing its part?

WSK: Sustainability is getting more important but with the current focus on cost-effectiveness, it may not be the main decision factor for the planner, at least for now.  The hotel does offer a Sustainability Meeting Package option for our client offering glass bottled water and glassware. The most recent initiative was the hotel pen made from recycled paper.