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SBD/August 6, 2012/Olympics
Seeing The Games In Style: On-Site Olympic Hospitality Tops $150M For Prestige Ticketing
Published August 6, 2012
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PROFITABILITY ASSURED: Gilpin said the company has surpassed its sales goal of $150M, ensuring it will be profitable, but he added that it will not be as profitable as it had hoped because of the amount the company invested into the hospitality venues and services. Prestige spent $12M building a three-story temporary facility in the shadow of the Olympic Stadium. The facility has a glass atrium and can accommodate 3,000 guests. It offers a four-course lunch with items like smoked salmon and foie gras before events and a post-event reception with desserts and gourmet cheeses. Gilpin said Prestige is using the venue as a showcase for what it could do at other sports events. He brought through members of the IOC this week and will host guests from UEFA and Rio '16 before the Games end. It is too late for the '14 Sochi Games to add a similar hospitality package to the Winter Games, but Rio could follow in London organizers’ footsteps and sell a similar package for '16. “We think it would work in Rio,” Gilpin said. “They’ll have a much more robust hospitality marketing after the World Cup.”