Luxury suites are an important revenue-spinner for sports venues and with new products and technologies entering the market at a rapid pace, facility managers are able to further increase their bottom line.
Creating an Experience
A change that Bill Dorsey, Chairman of the Association of Luxury Suite Directors (ALSD), is comfortable about predicting is the drive to make the visitor experience to a stadium a lasting one, and for the right reasons!
"Pretty much everything should be geared to the experience component. This will be achieved through the integration of HDTV techology and various development programs. But the further enhancement of the experience will also see the incorporation of more amenities being provided for under the umbrealla of the management company of the stadium; ranging from the includion of hotels to restaurants."
Dorsey's prediction is substantiated by Andrew Hampel of International Stadia Group. "We are in the business of creating and selling experience", explaned the man responsible for creating and selling the premium experience at, amongst others, the new Galatasaray Stadium, Wembley Stadium, and Aviva Stadium, while referring to the challenges Wembley Stadium in London faced when it needed to secure additional funds for the new venue. "The stadium management went to the bank with a plan that was built around the premium experience (which compised less that 20% of the capacity of the stadium) generating GBP£280m in ten years. They hoped that would be enough but the banks thought differently. The programme that we developed, which borrows from the quality of experience you might get at the Royal Opera House, projected revenues of GBP£600m from the same seats over the same ten year period. This was finally accepted by the bank."
According to Hampel, five elements will be critical to determining the future of a venue: "It is all about what is happening on the pitch: where the fans are seated; how good the experience is; how safe the fans feel; and how easy it is to access and leave the venue?"
To read the full article written by Guy Oldenkotte and published in Panstadia magazine, Spring 2011 click here. It may take a few minutes to load.