The events industry in the UK continues to thrive, and there are no indications that it will slow down anytime soon.
According to data from the 2018 Pulse Report, the current value of the events sector is £42.3bn, which is an 8% increase over the previous year.
Contrary to popular expectations, corporate events such as business conferences and meetings account for the highest amount of spending. These types of events have an annual value of £19.9bn, while sporting events and festivals each have an annual value of about £2.3bn.
More than 1.3 million corporate events take place in the UK each year, resulting in higher spending levels than those for sporting events and music festivals that occur less often.
The thriving events industry is excellent news for venue providers, including Camm & Hooper, which is one of the companies represented in our Imbiba Leisure EIS Fund. Camm & Hooper operates six venues for corporate and private events across London – Banking Hall, Six Storeys, Victorian Bath House, Tanner & Co and Grace Hall. It has reimagined and transformed some of London’s most iconic venues, with each one having its own unique atmosphere and style.
Changes in the events industry
In addition to experiencing rapid growth in recent years, venue providers have had to adjust to new trends in the events industry and changes in customer preferences.
Attendees at events now expect to have more interesting experiences, and venue providers such as Camm & Hooper have achieved success in the market by offering unusual and unique venues, vibrant locations, state-of-the-art audiovisual (AV) and production services and bespoke food and drink options. The company received the Bronze Award in the Best Venue Chain or Group category at the 2018 National Venue Awards.
Towards the end of August, Camm & Hooper and LGBTQI charity GiveOut announced that they had entered into a corporate-charity partnership. Camm & Hooper agreed to allow GiveOut to use its Six Storeys venue in the centre of Soho for free-to-host events for the charity’s supporters.
As part of the partnership agreement, the events specialist will also undertake fundraising activities for GiveOut in support of the charity’s work in raising money to champion worldwide LGBTQI human rights activism.