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ISBN 1-84168-083

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EXECUTIVE SUMMARY

The UK corporate hospitality market covers events and activities which are organised for the benefit of organisations entertaining clients or staff at the organisation’s expense. In 1999, the market was worth an estimated £700m. As a result of the many major international sporting events staged in the UK in 1999, the market increased in value by 10.1 percent. The upper tier of the industry has reached maturity and this is reflected in the structural consolidation of the major players. The global image of corporate hospitality has substantially improved in the 5 years since 1995, although some sectors, such as football, still suffer from potential ‘fan backlash’. Corporate hospitality is increasingly part of the marketing mix of client companies and is becoming less sensitive to economic downturn. The quality of the products and services delivered has improved. Spectator sports are the most popular corporate hospitality events. Key Note estimates that this sector represents 61.9 percent of the market’s total value. Spectator sports also attract large sponsorship packages which generate corporate hospitality seats, although the borderline between sponsorship and corporate hospitality is difficult to determine. Football draws the largest number of corporate hospitality guests. Customers’ tastes follow a set pattern. Traditional, high-profile sporting events remain at the top of the preference table, while more fashionable events have higher growth rates during phases of steady economic activity. In the last 2 years, major restructuring has occurred in the industry. The demand from client companies for more value-added, corporate activities and events to be integrated into global marketing solutions has led to important mergers between the major players. The degree of industry concentration has been accentuated in the sector for blue-chip events, while numerous small businesses have seized the growth opportunities presented by more fashion-sensitive activities. Nevertheless, the industry remains highly fragmented, with the newly created leader Skybridge Group PLC holding no more than 5 percent of the estimated market. Key Note estimates that, following a 6 percent rise in 2000, the market will grow steadily to 2003, with revenues reaching £834.7m. Much of this growth will be generated by spectator sports. This sector is forecast to grow by 18 percent between 2000 and 2003, compared to growth of 12.5 percent for the market as a whole. Most major sporting venues are increasing their corporate capacity. However, since there are no major international events due to occur in the UK in the near future, it is likely that corporate hospitality budgets will escape the UK market. Following recent growth, demand is approaching stability.

Text © 2000 Key Note

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Last updated by Duncan Nottage 5th July 2000