Prestige values London 2012 corporate hospitality ROI at £1.6bn

Prestige Ticketing today revealed that it has sold around a third of the corporate packages available for the London 2012 Olympic and Paralympic Games and predicts that companies investing in hospitality at the events will earn an ROI exceeding 12% - valued at around £1.6bn.

The company, an official hospitality provider for the Games, commissioned the Centre for the International Business of Sport at Coventry University to carry out research into the commercial value of the events.

The 12% figure is based on the value of branding, building goodwill and help in consolidating business relationships.

The report also predicts that the total value of 2012 Olympic Hospitality is set to exceed more than £3bn, around £1.4bn of which can be attributed to hospitality packages sold to corporate clients, with the remainder attributed to the value of business deals signed as a result of the hospitality.

"This is an estimate, but if anything, this could be a conservative estimate and my view is that it could potentially be much larger," said professor Simon Chadwick, director of the centre for the International Business of Sport at Coventry University.

Andrew Burton, chief executive at Prestige Ticketing, added: "What this research shows is that buying corporate hospitality at London 2012 is a business decision that will deliver a significant return on investment for customers."

Despite being available for six months, only 30-40% of packages have been sold, but Prestige said it expects demand to increase as companies set their marketing budgets for 2012.

Packages range from £325 for some Paralympic events through to £4,500 for the Olympic opening and closing ceremonies and athletics finals.

Corporate packages have already sold out for the women's hockey final and some days of tennis, diving and equestrian events.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
The most exclusive meeting locations with MICE by Palladium

Whether business travel or incentive trips, travelling is a unique experience. Palladium Hotel Group offers the best locations and service to join business and pleasure.

Case study: The Wearable Technology Show 2019

Case study: The Wearable Technology Show 2019

This year's show was hosted over two days and featured keynotes from the BBC and Facebook.

Lack of diversity is a 'competitive disadvantage'

Lack of diversity is a 'competitive disadvantage'

Diverse events are more interesting, more engaging and lead to better connections, says Hannah Redfern from Leaders in Sport.

How events can save the world

Crisis planning, sustainability, wellbeing and inclusion can cause difficulties for event organisers. So is it possible to host a truly ethical event?

Wellbeing makes 'good business sense'

Wellbeing makes 'good business sense'

Annie Metcalfe from Clear Partners says planners must adapt to the changing demands of incentive travel programmes.

Amex GBT appoints new general manager for meetings and events

Amex GBT appoints new general manager for meetings and events

Gerardo Tejado has held a number of commercial and client management roles at American Express GBT over the past 17 years.

Incentives are coming: 7 Game of Thrones-inspired destinations

Incentives are coming: 7 Game of Thrones-inspired destinations

From Croatia to Northern Ireland, the fictional land of Westeros has filming locations around the world ideal for meetings and events.

What HR experts look for in workplace accreditation

What HR experts look for in workplace accreditation

An independent HR consultant explains what judges are looking for in accreditation like C&IT's Best Places to Work.

5 reasons to choose Malta...

With a warm, sunny climate, stunning backdrops, a rich history and culture, fine gastronomy and activities aplenty, Malta can cater to events of all types.

Events budgets return to steady growth, Bellwether Report finds

Events budgets return to steady growth, Bellwether Report finds

UK companies increased their marketing spend in Q1 2019, in contrast to flatlining budgets at the end of last year.

LATEST JOBS