Product Type: Market Research Report
Published by: Mintel International Group Ltd.
Published: June 2004
Product Code: R560-1171Description Ascot, Henley, Glyndebourne, Cheltenham, Lord's, Twickenham - the names of the most prestigious events in the British social calendar were again prominent in the lists of hospitality opportunities on offer to companies at the start of the 2004 season. Corporate hospitality is now re-emerging as an important communication tool, although it is still dogged by the controversy that characterised the industry in the mid-1990s. However, there are clear, prominent changes taking place that will inevitably alter how corporate hospitality is conceived and perceived.
The elite listings within the social calendar reflect some natural biases in the market, with its leanings to the very largest public companies, head offices in London and boardrooms. Corporate hospitality is essentially a tactical way for companies to drive themselves forward, although its impact on the bottom line is often difficult to measure. Table of Contents Introduction and Abbreviations
Acknowledgements
Definitions
Abbreviations
Premier Insight
Summary of Key Report Findings
Corporate hospitality is a mature and static market
Corporate hospitality is still a fragmented sector
Active participation is favoured by more guests
Traditional events still form the core
The market is affected by external events
Two giants dominate the catering market
Trade survey points to reasons for buying in hospitality
Only gradual change to be expected
Market Factors
Optimism has returned to the boardroom - but for how long?
Figure 1: UK gross domestic product, 1999-2009
Figure 2: VAT Registrations and de-registrations, 1993-2002
Figure 3: Enterprises registering and de-registering for VAT, by industry, 2002
Mixed fortunes for business and industry advertising spend
Figure 4: Table of advertising expenditure, by industry, 2002 and 2003
Corporate hospitality is now an integral part of customer relationship management strategies
A more prudent approach to expenditure
The success of corporate hospitality is dependent on the leisure business
Figure 5: Value of the UK out-of-home leisure business, by sector, 1998-2002
The sponsorship market
Figure 6: Sponsorship market, by sector, 1999-2003
Corporate hospitality is still highly seasonal in nature
Figure 7: Events considered 'most appropriate', by UK region, 2003
Negative perceptions still persist
Market Size and Trends
Figure 8: Value of the corporate hospitality market, 1999-2004
Market Segmentation
Figure 9: Value segments of the corporate hospitality market, 1999-2003
The Supply Structure
Members of the Corporate Event Association
Calendar of major hospitality events for 2004
Figure 10: Examples of major hospitality events, 2004
Company profiles
Chelsea FC
Cheltenham Festival
Compass Group
Donington Park
English National Opera
Keith Prowse
Match Point
Silverstone
Sodexho Prestige
Sportsworld
Surrey County Cricket Club (SCCC)
Twickenham
Wembley
Host and Client Attitudes
Motivations for hosting hospitality events
Figure 11: Reasons for spending money on corporate hospitality, 2003
Figure 12: Target audiences for corporate hospitality, 2003
Motivations for accepting hospitality
Figure 13: Reasons for accepting corporate hospitality, 2003
The Host: Guest interface
Figure 14: Successful elements for hosts and guests of corporate hospitality, 2003
Measuring the success of corporate hospitality
Figure 15: Measuring the success of corporate hospitality, 2003
Business Practice and Development Strategies
Will future growth come from traditional or modern events?
Continuing popularity of traditional upmarket events...
...although new generation executives expect more modern events
The shift from passive to active attendance
Strong demand for participatory events
Knowledge of new eating habits/trends of paramount importance
Food quality is a priority for hosts and providers
Healthy eating and diet fads currently in vogue
Outsourcing is not always the best solution
A sector in the midst of slow, but significant change
The Future
Corporate hospitality has and will continue to have a strong role to play in strengthening B2B relationships
Greater diversity among employees will change the way corporate hospitality is organised
The move from passive to active hospitality
But 'five-star' events will retain their appeal
Forecast
Figure 16: Forecast of the corporate hospitality market, 2004-09
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