Corporate hospitality will boost ROI, claims report

Fancy a ROI of more than 12 per cent? Invest in corporate hospitality during the Olympic Games then, claims a report commissioned by Prestige Ticketing.

Event Magazine cites the report by the official hospitality provider to the London 2012 Olympic and Paralympic Games, which “values the earnings at an estimated £1.6 billion”.

It also reveals that Olympic hospitality as a whole, which revolves around high-end tickets to the most in-demand events of the Games, is set to exceed more than £3 billion.

British businesses have been urged to “seize the opportunity” to take their clients to the Olympics, according to Andrew Burton, chief executive of Prestige Ticketing.

Hospitality tickets offer “world class” experiences during the Games, including AA and A category tickets, dinner at fancy event spaces and entrance to their Olympic Park marquee, highlighting the extravagance of the overall package.

Professor Simon Chadwick, director of the Centre for the International Business of Sport at Coventry University, believes corporate hospitality will trump any economic conditions: “The corporate hospitality industry has hit a number of challenges in the last three or four years, particularly in light of the economic downturn.”

“But I think the Olympic Games is exceptional…and has the strength to transcend prevailing economic conditions,” cited Reuters.