What is the definition of MICE in the hotel industry?
The abbreviation MICE stand for Meetings, Incentives, Conferences and Exhibitions. It speaks of a group of tourism that strategies, books and arranges conferences, seminars and other events. The industry is currently often also referred to as the meeting industry and event industry, to avoid the relationship with rodents.
The MICE business is one of the hospitality industries most moneymaking subdivisions, as MICE travellers typically spend large amount of their budget on-site. MICE clusters use the hotel’s feast facilities the most, making them highly important for many hotels. Some hotels are even geared towards this kind of business, such as conference/ convention hotels. These bookings are usually planned a year or two in early payment to give proper notice to the hotel and openings.
Meetings, refers to any kind of occasion where numerous people come organized with a specific interest in mind/ unusual, often for business.
Incentive tourism is a result of organizations pleasing their employees for meeting or surpassing on goals set. They are therefore remunerated with a stay at a hotel to incentivize further work.
Conferences are similar to meetings as they also have a mutual interest, topic or reason for exchange. Though meetings are usually larger and often are spread over multiple days.
Events refer to any considerate public or social event. Instances of such are variety from Weddings, Company Parties, and Graduation Celebrations etc.