Report on Corporate Hospitality

To: Stephen Whitbourn (Chief Executive)

From: Matthew Rogers (Commercial and Hospitality Manager)

RE: Business Report regarding how best to utilise the facilities at Cheltenham Racecourse which demonstrates key factors which drive the commercial potential of utilising corporate hospitality to be able to maximise value and profit.

Terms of Reference?? introduction Corporate Hospitality involves events and activities organised for the benefit of companies that wish to entertain clients, perspective clients or employees at the business’s expense. In Britain the Corporate Hospitality industry comprises approximately 5,000 event organisers and it is estimated that the UK Corporate Hospitality market was worth £998 million in 2003 (Baxter, 2000). In accordance to Baxter (2000), football venues accounted for hosting the largest number of corporate hospitality events (16%) followed closely by horse racing (15%). This research suggests that business’s associate horse racing with corporate hospitality and therefore should look to use venues such as Cheltenham racecourse instead of competitors. In terms of selling corporate hospitality events to business’s Hughes (2000) cited agency research in 1997 which suggested that corporate hospitality routinely accounted for 5% of companies marketing budgets. Therefore by using various marketing techniques we can insure that the business’s in the area will look to the racecourse when spending their corporate hospitality budgets.

Types of customer who attend sports events and use sports facilities

Executive Summary
The Racecourse currently offers a wide range of events that cater for both business and pleasure Competitor identification is a key task for managers interested in scanning their competitive terrain, shoring up their defences against likely competitive incursions, and