The Convene evolution

Ryan Simonetti, CEO and co-founder of Convene, tells CMW about the evolution and ethos of the fast-growing specialist meetings space provider. What inspired you to develop the Convene concept?

Convene was founded under the premise, ‘What if you ran an office building like a luxury hotel?’ Prior to founding Convene, I worked in real estate investment based in NYC where I financed hotels and office buildings. In 2008 I saw an opportunity to bring those two worlds together in a new and different way. The timing was just right, too, as the US was witnessing the birth of lifestyle as a movement, from the rise of Equinox gyms, to Starbucks, and boutique hotels. Well, why not bring lifestyle experiences to the office while also creating purpose-built meeting and event venues to support the needs of organisations looking for a non-hotel venue to host their most important corporate gatherings? We launched Convene in 2009 and over 15 years grew a portfolio of brands and a network of nearly 40 locations across the US and UK. In the early days, what challenges did you face, and how did they shape the company’s current model? Like most start-ups, the first few years were a challenge as we looked to build a brand and convince clients to switch from using internal conference spaces and hotel ballrooms to Convene. The first location we opened in New York was a former internal conference and event space for a large financial services firm. It was a great way to start, but we were often frustrated with elements of the space that weren’t designed with our clients’ or teams’ needs in mind. We quickly realised the value of designing and purpose-building our own spaces. The same was true for our food and beverage programme and technology offerings, which we originally outsourced to third-party vendors. Based on client feedback, we made the decision to bring 100% of these services in-house and now they are two of our biggest competitive differentiators. Looking back on those early years, my biggest takeaway is the value of obsessing over the client experience and evolving your business to meet their needs. How many venues are currently part of the Convene portfolio? What is the unifying concept and how do you lever the differences? The Convene portfolio of brands includes etc.venues and we have a network of nearly 40 locations across the US and UK with more on the way in 2025. Our venues are purpose-built to accommodate a wide range of meetings – from small team offsites to large corporate conferences to awards galas and more – with the through-line being experiential hospitality at the centre of everything we do. We segment our brands to help our clients discern which may be the right fit depending on the event type, size, and budget: Convene is ideal for large, highly experiential events with venues often comprising a grand hall and plenty of breakout space, while etc.venues is better suited for value-driven small meetings and corporate trainings. Regardless of brand, our number-one focus is to be a strategic partner, not just a place, for our clients. And so while the design and extent of service delivery may vary between brands, on-site catering, in-room technology, on-site planning support, and that special Convene hospitality are all consistent across the portfolio. When scouting for new locations, what specific features do you prioritise in a building or space? At Convene, we are placemakers and, as an extension, we seek out locations that are – or will be – destinations in their own right. We typically want to be in Class-A assets in core city locations with high ceilings, natural light, architectural character, and generous column spacing. We also love to be in buildings and submarkets that offer a rich history as every location we design tells its own unique story. We source locations that are easy to access via public transportation, close to quality hotel inventory. How does Convene’s pricing structure compare to other premium venues and what value propositions set you apart? Convene is in a category of its own. And, unlike most of the other players in the space, we’ve intentionally built our business to offer all key services in-house. This allows us to not only deliver a better experience but to bundle our offerings into comprehensive packages that eliminate the nickel-and-diming that happens at most other venues. In addition, through the Convene Enhancement Program, we have a network of preferred vendors and we provide clients with a single invoice to streamline the billing process. Because of our core focus on meetings and events, our workplace members benefit from a hospitality infrastructure that no coworking company can compete with. What trends are you observing in the events and workspace industry? How are these influencing Convene’s strategy? The typical ‘calendar of events’ that was standard up until the pandemic has evolved. Given the rapid adoption of flexible work arrangements, clients are more thoughtful when it comes to attendees’ personal schedules and often factor in holidays into their planning; this has caused a shrinking annual events calendar in addition to significant Tuesday-through-Thursday date compression. We’ve also seen a shift towards fewer, larger, and more experiential events. Given these trends, our team is working hard to be strategic in how we match the right client with the right venue on the right date in order to maximise value for all parties. In this new hybrid work world, it’s even more critical for organisations to bring their teams and clients together to connect, collaborate, and create. And the broader ‘flight to experience’ indicates that this needs to be done in a meaningful way. Convene is well-positioned as the partner of choice for organisations seeking premium workspaces as well as dynamic meeting and event spaces for high-impact in-person gatherings. What does the future look like in terms of forward bookings? The standard booking window has continued to evolve. For large events, the average booking window has increased by more than 20 days, which has shifted our client outreach strategy. Conversely, for smaller meetings, because of hybrid work, we’ve witnessed an increase in ‘in-the-month-for-the-month’ bookings as companies look for more ways to bring their teams together in person on a regular cadence. Globally, over 65% of our revenue comes from repeat clients with more and more of our Fortune 500 clients now opting to execute longer-term service agreements that include standard terms, volume-based discounts, and other perks in exchange for a minimum annual committed spend with Convene. Where do you see the most significant opportunities for growth? The meeting, event, and flexible workspace industry will start to mirror the hotel industry, with a few global platforms operating multiple brands. Convene is firmly headed in that direction. Over the next few years, we’re 100% focused on deepening our portfolio in existing markets while actively exploring expansion markets across the US, UK, Canada, and Europe, which could include future acquisitions. How do you envision the future of events and workspaces? The future of meetings, events, and work are inextricably linked. There is no doubt that the way we meet, work, and live will become increasingly flexible with employees empowered to choose when and where they work. This, combined with the broader shift towards lifestyle experiences, will put pressure on organisations to rethink their workplace strategies and the value of in-person gatherings to drive culture, innovation, and business outcomes – including outsourcing more and more of these experiences to platforms like Convene.