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Strategic Venue Management Process: a Model to Maximize the Value of Venues

Introduction Sport venues are the key strategic assets for many professional sport clubs and franchises, right holders and event promoters. One of the most significant trends in the business strategies of owners and operators is the development of a new generation of stadia and arenas focused on enhancing the customer experience and generating higher yields per visitor, rather than simply seeking or increase revenue by maximising seating capacity. At the same time, sport brands are experiencing increasingly intense competition from all sectors of the sports and entertainment industry, not for ticket sales only, but for hospitality, sponsorship, advertising, naming rights and other core revenue streams that are dependent on the facilities and specification of the host venue. This thesisanalyses the key business areas and provides managerial strategies for generating incremental revenue, increasing visitor numbers and enhancing the fan experience. Owners and operators of sport venues, teams and events have a number of different strategies at their disposal to help maximise the stadium revenues. The development of an appropriate strategy is a key route to achieve this objective considering that not all the organizations need the same package mix. A fundamental factor that needs to be considered is the “uniqueness” of each venue: with this singularity to bear in mind, managers should develop a set of policies to assure achievement of the main goals and implement adequate programs that will guarantee organization’s efficiency and effectiveness. Considering this cornerstone as a starting point, the thesis illustrates the “Strategic Venue Management Process”: it is a model that tries to fulfil facility managers' needs by providing a set of different strategic approaches, which will ensure organization’s continuity, and a body of managerial instruments that will give them the proper skills to “Sweat the Asset” and maximize the venues value. The study is based on a model of Strategic Sport Management written by Hoye, Smith, Westerbeek and Stewart and published in the book “Sport Management: principles and applications” in 2006. Their successful strategic process fitted for the Sport Management has been adapted to Venue Management, trying to keep unchanged its original template and structure. It consists of five phases: Strategy Analysis, Strategy Direction, Strategy Formulation, Strategy Implementation and Strategy Evaluation. Each phase is strictly related to others and the whole process consists of an iterative approach seeking for a continuous organization’s improvement. The thesis is completed by other two chapters. The opening chapter assesses the key factors that are influencing global stadia and arenas marketplace providing a broad insight into the structure, size and trends that typify the facilities and events sectors. This “big picture” information is used to briefly elaborate on the key drivers of success when planning, designing, building and operating sport and entertainment venues. A closer look on Governance and Management focuses on the big changes that Sport Industry had during the last two decades and identifies new Sport Business developments. The second chapter provides an overview on the most important European Leagues outlining the actual “State of the Art” of Facility Industry in Italy, England and Germany. This This European scenario is useful to identify best practices and lessons learned from “virtuous” countries across Europe in order to realize a useful set of examples to follow in order to refurbish Italian stadiums.

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4 Introduction Sport venues are the key strategic assets for many professional sport clubs and franchises, right holders and event promoters. One of the most significant trends in the business strategies of owners and operators is the development of a new generation of stadia and arenas focused on enhancing the customer experience and generating higher yields per visitor, rather than simply seeking or increase revenue by maximising seating capacity. At the same time, sport brands are experiencing increasingly intense competition from all sectors of the sports and entertainment industry, not for ticket sales only, but for hospitality, sponsorship, advertising, naming rights and other core revenue streams that are dependent on the facilities and specification of the host venue. This thesis analyses the key business areas and provides managerial strategies for generating incremental revenue, increasing visitor numbers and enhancing the fan experience. Owners and operators of sport venues, teams and events have a number of different strategies at their disposal to help maximise the stadium revenues. The development of an appropriate strategy is a key route to achieve this objective considering that not all the organizations need the same package mix. A fundamental factor that needs to be considered is the “uniqueness” of each venue: with this singularity to bear in mind, managers should develop a set of

Tesi di Laurea

Facoltà: Ingegneria

Autore: Pierluigi Zacheo Contatta »

Composta da 146 pagine.

 

Questa tesi ha raggiunto 1195 click dal 24/09/2008.

 

Consultata integralmente 7 volte.

Disponibile in PDF, la consultazione è esclusivamente in formato digitale.