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Press Release: UK Corporate Hospitality Market Development Report

Released: January 2012

After researching the UK corporate hospitality market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

Market Review 2007-2011:

In 2010, the value of the UK corporate hospitality market continued to decline following the trend already established in 2009. The year started more positively, but weakened revenues were noted by the industry in the second half of the year. In contrast, 2011 started weakly, but strengthened as the year progressed. In part this reflected early activity on the 2012 Olympics, and with that excepted, 2011 was again a weak year. In total the market is believed to have grown by just 2% to £950 million.

Market Forecast 2012-2016:

In 2012, demand for corporate hospitality is projected to increase by a highly significant 8%, mainly reflecting the impact of the London 2012 Olympic and Paralympic Games. What remains to be seen is whether the loosening of corporate hospitality budgets for this year will have a more permanent effect on the market. With the 2014 Glasgow Commonwealth Games also scheduled, then the success of events in the London Olympics could be a major factor on the level of growth in 2014. If it was not for these specific events, then MCi believe that the corporate hospitality market would be very sluggish given the economic conditions.

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MBD specialises in business to business market research. The range of reports and industries in which we operate in is constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.

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