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Hotels at sports stadiums set for huge growth(24 September 2007 23:26)The number of hotel rooms attached to sports stadiums will triple over the next nine years, experts predicted today. A study by consultancy PricewaterhouseCoopers (PwC) revealed that the number of rooms attached to stadiums had been growing by 13% a year since 1998, currently standing at 1,314 rooms (in 11 hotels). Julie Clark, sports and leisure leader at PwC, urged operators to consider seriously the growth potential for this niche hotel market. "We have seen significant growth in the past decade, but the greatest opportunity is yet to come as penetration levels remain low and more sporting venues announce plans to redevelop their venues," she said. "Currently only about eight percent of football stadiums and 16% of racecourse venues have hotels attached, so the scope for growth is enormous." Article continues below
However, Clark warned that the product was not for every business and did attract some risks. "Merely opening a hotel at a sporting venue will not automatically guarantee additional revenues. Location is paramount and the hotel needs strong demand base to ensure a viable business model," she said. "The right hotel at the right venue can provide benefits for the operator and venue alike - the secret of success is to pursue mutually beneficial goals and opportunities." Existing hotels and planned developments by sport include: Football
Racecourses
Cricket
Rugby
Motor Racing
'Racino' scheme for racecourse>> Arora International to build new hotel at the Oval>> £9m Holiday Inn opens at Norwich City FC>> Flexibility is key to success>> By Daniel Thomas E-mail your comments to Daniel Thomas here.
Source: CatererSearch |
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