Conference Centres Letting & Operating in the UK - Industry Market Research Report

Conference Centres Letting & Operating in the UK - Industry Market Research Report
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.