Conference Centres Letting & Operating in the UK - Industry Market Research Report
Description
Conference Centres Letting & Operating in the UK
Over the five years through 2023-24, revenue is projected to contract at a compound annual rate of 2.8% to £778.5 million. This contraction was mostly driven by COVID-19 disruptions causing revenue to plummet, which conference centres are yet to fully bounce back from. The EU referendum drove volatility in business markets, with many companies holding off on spending while market conditions were uncertain. However, conference centres continued to attract bookings; they drew in demand by investing in improving venues (renovating spaces, introducing new technologies, etc.). At the same time, the government was promoting the UK's reputation for hosting quality events to try to bring foreign businesses across the border.
Companies in this industry rent out and operate purpose-built conference and exhibition centres, either independently or on behalf of a private- or public-sector entity. This industry excludes the organisation, promotion and management of events, conferences and meetings that take place in let or operated venues. It also excludes the ownership and operation of conference rooms in hotels. Operators generate revenue through venue hire, service provisions and registration fees.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."
Over the five years through 2023-24, revenue is projected to contract at a compound annual rate of 2.8% to £778.5 million. This contraction was mostly driven by COVID-19 disruptions causing revenue to plummet, which conference centres are yet to fully bounce back from. The EU referendum drove volatility in business markets, with many companies holding off on spending while market conditions were uncertain. However, conference centres continued to attract bookings; they drew in demand by investing in improving venues (renovating spaces, introducing new technologies, etc.). At the same time, the government was promoting the UK's reputation for hosting quality events to try to bring foreign businesses across the border.
Companies in this industry rent out and operate purpose-built conference and exhibition centres, either independently or on behalf of a private- or public-sector entity. This industry excludes the organisation, promotion and management of events, conferences and meetings that take place in let or operated venues. It also excludes the ownership and operation of conference rooms in hotels. Operators generate revenue through venue hire, service provisions and registration fees.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."
Table of Contents
44 Pages
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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