Racing to an ‘odds-on’ successful future through Corporate Hospitality

The Corporate Entertainment business – a sector we at QuotroFest work with a good deal – is an industry that is now well-recovered from the tough recession it endured not so long ago .

research

According to research group Key Note the total value of the UK corporate hospitality market – fell by 2.5 per cent to £1.2bn between 2007 and 2011. (so reported Real Business.co.uk)

buoyant

Following the 2012 Olympics, the corporate hospitality business opportunities and activity has extended year on year and confidence has all but returned in most sectors to its pre-recession levels. Projections on into the years ahead look buoyant it seems – hope that’s good news for us too!

expansion

As budgets begin to expand, purse strings loosen and new business expansion, post the recession and even post Brexit, is more and more needed. In this climate corporate hospitality increasingly can push its way on onto companies business development budgeting agenda.

great way to do it

It – Corporate Hospitality – does remain a great way to introduce businesses to new clients or provide a refresher for existing ones – the secret is originality and finding the right approach and environment in which to do so.

cheltenham Festivals ‘bonanza’

If you happened to be on this Blog recently, you may recall we featured the Festivals Bonanza scheduled for 2017 in the Regency town of Cheltenham. To the fore, as part of all the razz-ma-tazz of the Festival year in Cheltenham was, of course, the town’s Race course – home of the Gold Cup Festival …and much more!

     

The Cheltenham Race Course is owned by the Jockey Club and is just one of the many corporate hospitality venues they have and operate UK wide. All of them of course bring the Corporate Hospitality pounds pouring into their pockets to very good effect.

     

Along with Cheltenham, their ‘venue’ line-up includes the following – Aintree; Carlisle; Epsom Downs; Exeter; Haydock Park; Huntingdon; Kempton Park; Market Rasen; Newmarket; Nottingham; Sandown Park; Warwick and Wincanton

You would have to say -that is quite a Corporate Hospitality venue portfolio!

ensures

Jockey Club Racecourses’ have invested £145 million into racecourse facilities over the last seven years. This ensures high quality facilities are in place, which has in turn meant that the race courses can really become quality, unique corporate Event venues alongside their primary role, the staging of all kinds of legendary horse racing sporting occasions.

style

More general and very valuable corporate hospitality usage is now very much ‘in play’ at the Jockey Club’s UK race courses alongside the purely Horseracing-linked corporate hospitality action. For sure it seems The Jockey Club plans, promotes, exploits and expands within the more general corporate hospitality market now – and does this with great success and no little style year on year.

strategic

The Jockey Club makes it clear that its strategic objective is to be the best racecourse operator in Europe in terms of profitability and promotion of the best quality flat, jump and all weather track racing.

second string

To help them achieve this aim there is surely a second string to the Jockey Club’s ‘bow’ – the use of their Racecourses as general Event and Hospitality venues. This has enabled the Club to a generate an additional income stream and so maximise each venue’s earnings.

double act

The Jockey Club can then collect the funds needed for its core re-investment in horse racing in the long term. This is for sure quite a operational double act and partnership – Horse Racing linked Corporate Hospitality AND General Corporate Hospitality activity development alongside too!

saving

It is an approach and tactic which has surely saved leading much loved courses such as Cheltenham and Aintree , which in the past were financially burdensome and in real danger of being sold for re-development and thus disappearing for good.

thriving

Now they sit at the heart of what is a thriving corporate hospitality business ’empire’ with an

‘odds on’ secure future – nice planning .. nice result!! It is great when a plan comes together eh?