When industry leaders get together, it is an important event. News writers often attend these conferences to report on the latest trends in business. There are times when it is best for industry leaders to discuss important business without the distraction of the press. Rather than attending a large conference or exhibition, they gather at a private retreat. This gives them an opportunity to really concentrate on their business and make important decisions.
Free press is generally good for most businesses. Small conferences that exclude the press are avoiding the problem of being distracted. They are not held privately to keep information from the press or the world in general. Many times, executives attending these conferences will invite the press to a briefing after their decisions have been made. This offers the journalists a chance to report the news to their readers after the executives have made their decisions.