Events specialist Hyve Group has seen a faster and better-than-expected recovery, according to its internal 2022 report on Tuesday. The events company also said it will focus «on sectors, rather than geographies» in the future.
Hyve said it is enjoying a continued recovery in in-person events «at a faster pace than anticipated, with some exceeding pre-pandemic levels … despite significant challenges.» That success means the business is entering the second half of FY2022 «with momentum and a streamlined portfolio of market-leading omnichannel products focused on high-growth industries.»
The group says high-quality events are driving customer spend and strong future bookings, driven by its «risk-free portfolio» following its exit from Russian operations, along with strategic acquisitions that enhance the omnichannel strategy.
«Over the past six months we have once again had to respond to challenges beyond our control. Thanks to the hard work of our people around the world, we have not only successfully overcome these challenges, but we are now experiencing a strong recovery and have moved significantly closer to our long-term vision more quickly than expected,» said CEO Mark Shashoua.
«Hyve is almost unrecognizable compared to just five years ago. Having evolved from a predominantly emerging markets business, today we have a risk-free portfolio of market-leading events, focused primarily on the U.K., U.S. and European markets,» he added.
The executive said the move to a focus on sectors, rather than geographies «is a significant change for Hyve, but absolutely the right one to create sustainable value for stakeholders.»
«We expect the strong momentum we have seen in the first half of the year to continue. Our face-to-face events are recovering faster than anticipated, and many have already fully recovered. While there are clearly global economic and geopolitical headwinds, the group is in a strong position with renewed confidence. This will serve Hyve well in weathering any potential challenges,» he said.