24/09/2019
ALSD
An important theme emerging in the premium seating industry is FLEXIBILITY. Suite leaseholders who commit to a multi-year suite lease want the flexibility to sell events they can't attend. Customers want the flexibility to easily find and book a suite for just one or two events at a time. And to deliver the best possible experience, teams need better insight into the secondary market in their building. Hear how SEG is working with teams and venues to support their leaseholders and introduce them to new buyers.
Suite resale is happening in almost every stadium and arena across the venue marketplace. And while some teams continue to shut it down or worse, ignore it, others are taking control. Learn from three teams achieving positive results.
At the 29th Annual ALSD Conference and Tradeshow, Suite Experience Group, alongside the Pistons, Vikings, and Kansas City Royals, continued to transform the reputation of the secondary suite market from its outdated, negative “broker” stigma into one that empowers teams to wrestle back control of their premium inventory. No longer a taboo topic, suite resale has emerged from the shadows to become a legitimate revenue stream for teams and an amenity for their suite holders.
Teams can leverage secondary markets in two ways. The first model lists suite rentals directly on an online suite marketplace, and the second sanctions suite resale for existing customers. Every venue has different needs, and oftentimes, teams deploy a combination of strategies dependent on those needs. The benefits are universal to all sports, venue types, market sizes, and occupancy rates.
“If you go through the process of acceptance, and again, you are in a position where you want to have some control of your secondary market,” says Elizabeth Godek, Vice President of Premium & Membership Development at the Detroit Pistons, “take it, because you’re going to see results.”
This video content was published in partnership with Suite Experience Group:
https://www.suiteexperiencegroup.com/
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