• Thu. Dec 8th, 2022

Global Sports Hospitality Market to Hit $20.24 Billion by 2027 – ResearchAndMarkets.com

ByDebra J. Aguilar

Sep 20, 2022

DUBLIN–(BUSINESS WIRE)–The “Global Sports Hospitality Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.

The global sports hotel market was valued at USD 4,745.928 million in 2020 and is projected to grow at a CAGR of 23.03% to reach a market value of USD 20,243.342 million in 2027.

The global sports hotel market is expected to grow rapidly over the forecast period. Sports hospitality refers to programs developed and designed with the consideration of corporate executives and VIPs to allow them to watch or play sporting events. It is primarily used as a business strategy to help organizations build stronger relationships and provide a unique experience for their customers. Some use it to reward their employees, but more importantly, organizations are opting for sports hospitality to increase their brand awareness in the process. Companies offering sports hospitality also offer the possibility of adapting the event according to budgetary needs, and the event can take place at any time of the year.

There are several options offered for sports hospitality purposes. Some of these are the company boxes, in which a completely separate box is reserved for the company throughout the sports season. Therefore, a business box will make customers feel more pampered and important, building more reliable business relationships. This option is more suitable for watching a football game or a racing event, etc. Another chosen option is VIP treatment and travel. This option allows the customer to access places they would normally not be able to access, such as Formula 1 arenas or a VIP seat at an MMA match. This option allows customers to access places they usually couldn’t, like formula racing arenas or a VIP seat at an MMA match. There is no dearth of sporting events available with this to enjoy this option. Opting to host a sporting event or watch one at a heritage or traditional venue is also a good option for sports hospitality. For example, the Camp Nou stadium in Spain is a historic place for all football fans. Similarly, watching/hosting a sporting event at Wimbledon for customers is also a sought after option.

The market is segmented by type of sport (Football, American Football, Baseball, Tennis, Basketball, Others), by geography (Americas, Europe, Middle East and Africa, Asia-Pacific). The market is also estimated more by geography and type of sport.

Europe, Middle East and Africa are expected to hold the largest market size.

Europe, Middle East and Africa are expected to hold the highest market share during the forecast period owing to the immense number of sporting events taking place in the region. The region consists of countries that are immensely populated by sports fans regardless of their age group, class or race. According to preliminary research, Europe is also the scene of many major sporting events like the FIFA World Cup, which attracts the highest number of viewers in the world. The next FIFA season, the 2022 FIFA World Cup, is taking place in Qatar. Thus, the sports hotel industry will experience several growth opportunities in the coming years in the region.

According to preliminary research, Europe also witnesses a significant number of major sporting events like FIFA, which attracts the highest number of viewers in the world. The next FIFA season, the FIFA World Cup 2022, is taking place in Qatar. Thus, the sports hotel industry will experience several growth opportunities in the coming years in the region.

Asia-Pacific Region Expected to See Highest CAGR

The region is made up of developing countries witnessing significant technological advances and the rapid adoption of new IT infrastructures. The region’s population has seen significant growth in disposable income and the entry of international companies into the market. With the growing need for customer retention, brand awareness has been the top priority for organizations in the region. Furthermore, the region is expected to witness the holding of numerous sporting events, the first being the Cricket World Cup in India in 2021. Hence, the sports hospitality market in the region will witness the fastest growth.

Market segmentation :

By type of sport

  • Soccer

  • Football

  • Baseball

  • Tennis

  • Basketball

By geography

  • North America

  • United States

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Europe

  • UK

  • Germany

  • France

  • Italy

  • Middle East and Africa

  • United Arab Emirates

  • Saudi Arabia

  • Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Thailand

  • Indonesia

  • Taiwan

Main topics covered:

1. INTRODUCTION

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

5. SPORTS HOSPITALITY MARKET ANALYSIS, BY SPORT TYPE

6. SPORTS HOSPITALITY MARKET ANALYSIS, BY GEOGRAPHY

7. COMPETITIVE ENVIRONMENT AND ANALYSIS

8. COMPANY PROFILES

Companies cited

  • DTB Sports Hospitality and Event Management Limited

  • RTR Sports Marketing Ltd

  • Keith Prowse (Compass Band)

  • White label hospitality

  • ATPI Ltd.

  • CSM Sports and Entertainment LLP

  • RK Sports Hospitality

  • Hospitality seeker

For more information on this report, visit https://www.researchandmarkets.com/r/1m11r7