Here at Keith Prowse, we 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 forecast 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 before the end of March 2024, all of Keith Prowse's premium packages for The Championships, Wimbledon 2024 are completely SOLD OUT. This surpasses the record set in 2023 - and forecasts for Wimbledon 2025 are already predicting that this will be further eclipsed...
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, to Andrea Bocelli at BST Hyde Park, we at Keith Prowse have an experience to suit any occasion, group, budget and or fancy. 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.