The acronym MICE stands for Meetings, Incentives, Conferences and Exhibitions. It refers to a group of tourism that plans, books and organises conferences, seminars and other events. The industry is nowadays often also referred to as the meeting industry and event industry, to avoid the affiliation with rodents.
The MICE industry is one of the hospitality industries most profitable sectors, as MICE travellers typically spend large amount of their budget on-site. MICE groups use the hotels banquet facilities the most, making them highly important for many hotels. Some hotels are even geared towards this type of business, such as conference/ convention hotels. These bookings are usually planned a year or two in advance to give proper notice to the hotel and outlets.
Meetings:
Meetings, refers to any kind of occasion where multiple people come together with a particular interest in mind/ uncommon, often for business.
Incentives:
Incentive tourism is a result of organisations rewarding their employees for meeting or exceeding on goals set. They are therefore rewarded with a stay at a hotel to incentivise further work.
Conferences:
Conferences are similar to meetings as they also have a common interest, topic or reason for exchange. Though conferences are generally larger and often are spread over multiple days.
Events:
Events refers to any planned public or social occasion. Examples of such are range from Weddings, Company Parties, Gradautation Celebrations etc.