Sponsorworks launches their ‘Future of Corporate Hospitality Report’ today in order to support the industry with valuable insights that will help businesses navigate the world of corporate hospitality.
The report was launched at a dedicated European Sponsorship Association (ESA) panel debate with Sponsorworks CEO Alex Cowell and representatives from Philips TV & Sound, Accor and the O2 arena discussing the findings.
The report highlights key findings and strategic recommendations across several important areas, including a growing emphasis on sustainability, the rise of hospitality in women’s sport, and the challenges limiting its full potential. It also examines the evolving landscape of ROI measurement, as well as anti-bribery and corruption considerations.
Alex Cowell, Sponsorworks CEO, commented: “Despite the global significance of corporate hospitality, research has been scarce over the past two decades. Our report fills that void, offering a comprehensive exploration of the latest trends and challenges to help businesses grow and adapt.”
Sponsorworks plans to release this analysis annually as part of its commitment to helping the industry make strategic, data-driven decisions that enhance corporate hospitality programmes.
ESA Members can download the report by clicking here.
Non-members can download the report by clicking here.
Executive Summary
The 2024 Future of Corporate Hospitality Report, produced by Sponsorworks in partnership with Nielsen.
Hospitality is more than just an event; it’s an opportunity to build lasting relationships, foster loyalty, and create memorable experiences. Yet, despite its importance to businesses worldwide, we discovered a surprising lack of research in this area.
This report is our contribution to filling that void, offering a detailed look into the latest trends, challenges, and opportunities in corporate hospitality, helping businesses evolve into the future.
We plan to continue this analysis annually, ensuring that our clients and the broader industry have access to the most current data.
Key takeaways from the report include:
- Understanding the Drivers Behind Corporate Hospitality
Corporate hospitality goes far beyond entertainment, serving as a strategic tool for businesses. The report delves into the core motivations behind event bookings, offering a fresh perspective on how companies are prioritising client engagement, customer loyalty, and internal team-building within the context of today’s dynamic work environment.
- The Growing Importance of Sustainability
Sustainability is increasingly influencing corporate hospitality choices. This study highlights emerging trends in eco friendly practices and sustainable travel, showing how businesses are beginning to embed these values into their hospitality strategies, with significant implications for future planning.
- The Evolving Landscape of ROI Measurement
Accurately measuring the impact of corporate hospitality remains a complex yet vital task. This section provides an in-depth look at the state of ROI tracking within the industry, offering actionable insights on how companies can refine their measurement practices to better assess and enhance the returns on their hospitality investments.
- Shifting Event Preferences
As companies evolve, so do their hospitality offerings. Our findings reveal subtle shifts in how businesses are choosing event types and timings, suggesting a need for more personalised and strategic approaches to maximise guest engagement and satisfaction.
- New Opportunities in Women’s Sports
The rising popularity of women’s sports is opening new avenues within corporate hospitality. Our report explores how businesses can capitalise on this growing interest while analysing the challenges that currently hinder its full potential.
-ENDS-
About Sponsorworks:
Sponsorworks empowers brands to unlock greater value from their corporate hospitality and sponsorship programmes through its innovative software platform. Leading companies including Diageo, BP, NatWest, Aviva, Qatar Airways, NBC Universal and Philips trust Sponsorworks to manage and measure their programmes effectively.
For more information, please contact:
Rupert Pratt, Global Partnerships Director, Sponsorworks
