Our photography club is looking to purchase a new project with a budget of £2000 to £2500 GBP. It's a bit of a minefield.

Photo forums recommend the Canon SX80 Mark II, which has a native resolution of 1400x1050.
However, for a little more I've come across the Epson EB-G5450WU which has a native resolution of 1900x1200. The contrast ratio of the Epson is 1000 : 1, and the contrast ratio of the Canon is 900:1?

I am not entirely sure what contrast ratio means and if it has much of a bearing on displaying photographs.

We'll only get one go at choosing the correct projector for our club. Any recommendations, help in this area and pitfalls to avoid will be most welcome.