GLOBAL HOSPITALITY MARKET TO MORE THAN DOUBLE BY 2028

Keith Prowse aren’t just the Experience Experts, we’re also the UK’s No.1 hospitality provider at the very heart of a wider, global industry that is predicted by Market Data Forecast to more than double in size over the next five years. This is scheduled to rise from USD $4,107.60 billion to $9,950 billion in 2028 – a 142.234 percentage increase, and a CAGR (Compound Annual Growth Rate) of 16.13%.*

“In this economy!?” Yes, you read that correctly!

In a post-pandemic world, the appetite for in-person corporate and personal entertainment experiences has more than returned – all of the tennis hospitality puns intended, as by the start of April 2023, all of Keith Prowse's premium packages for?The Championships, Wimbledon 2023 had officially SOLD OUT.

This was the earliest on record, but Wimbledon 2024 is already 90% sold out - and we're only in November of 2023...

After nearly two years of off-and-on lockdowns, the value of tangible experiences and ‘premiumisation’ has understandably risen. Employers still understand the benefits of hospitality, from boosting morale and staff retention, to building on new and old business relationships and ultimately, increasing sales and revenue.

Simon Stenning, Strategic Advisor, Futurist and Founder of FutureFoodservice.com, commented: “With a realisation that life’s pleasures can easily be stripped away, consumers and businesses have recognised that the balance needs to be tipped towards enjoyment, leisure and entertainment, and to treating ourselves, so we expect to see further growth and development in the future of experiences that deliver something that cannot be replicated in the home, especially premium, live, top-level, sport and entertainment. We forecast a future where premium hospitality plays a greater and more important part of all our lives.”

If the modern economy is built on trust, experiences are the new currency – as detailed in Keith Prowse’s recent hospitality industry whitepaper entitled ‘The State of Hospitality’.

Sam Coates, Head of Marketing at Keith Prowse, summarises: “’People buy people’ is as important as ever in this online world where we are bombarded by messaging. Trust matters most in relationships – to build trust you need to form face to face interaction; be it for work or for pleasure – the business of hospitality has a demonstrable place amongst the modern societal workplace.”

From Eastbourne to Edgbaston, England vs the All Blacks to Andrea Bocelli at BST Hyde Park, Keith Prowse have an experience to suit any occasion, group, budget and or fancy - starting at just ￡70 per person plus VAT. Find the perfect event to entertain your clients, colleagues, friends or family members - or even just a solo day out for some much deserved 'you time'!

*Source; Ltd, M. D. F. (n.d.). The State of the Hospitality Market | Size, Growth | 2023 - 2028. Market Data Forecast.