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
In pictures: Events industry joins nationwide NHS tribute

In pictures: Events industry joins nationwide NHS tribute

As the UK came together to thank frontline healthcare workers, venues did their bit to mark the occasion.

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Relief for freelancers welcomed by HBAA chair amid concerns many will have to take out loans before a payout in June.

How many MICE businesses have a complete travel ban in place?

How many MICE businesses have a complete travel ban in place?

Nearly 2,000 MICE professionals reveal whether their company has banned business travel in part three of C&IT's Impact of Coronavirus Report.

LIVE UPDATES: Which international events are being cancelled

LIVE UPDATES: Which international events are being cancelled

All the latest postponements and cancellations as the world deals with the spread of coronavirus.

Events industry applauds ExCeL's hospital transformation

Events industry applauds ExCeL's hospital transformation

The conference venue is expected to be ready for action as a huge coronavirus hospital by next week.

‘Kill the agenda, it gets in the way of creativity’

‘Kill the agenda, it gets in the way of creativity’

A detailed event schedule doesn’t leave much room for flexibility or self-expression, says INVNT’s Adam Harriden.

How coronavirus is changing event contracts and insurance forever

How coronavirus is changing event contracts and insurance forever

A need for more detailed contracts has been highlighted in C&IT’s Impact of Coronavirus Report, which surveyed 2,000 event professionals.

Aeorema Communications acquires Eventful

Aeorema Communications acquires Eventful

The deal marks Aeorema's 'conviction in the future and recovery of the events and MICE industry'.

Largest stimulus bill in US history agreed

Largest stimulus bill in US history agreed

A nearly $2-trillion package will boost the US economy amid the COVID-19 outbreak after both sides of the senate reached an agreement.

Industry support line launched by Stress Matters

Industry support line launched by Stress Matters

Help by phone and Whatsapp is available to event professionals who would like to talk to a trained mental health first aider.