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 Detroit Pistons, Minnesota Vikings, and Kansas City Royals, continued to transform the reputation of the secondary suite market from its outdated, negative “broker” stigma into one that empowers teams to wrestle back control of their premium inventory.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.
Those benefits include a revenue share and access to all data from both the buyer and seller sides of a transaction, information which helps teams increase renewals and gain new business. Blackout dates and floor prices are easily set. It’s a win-win proposition. Teams maintain complete control. Suite holders recoup some of their investments when they would otherwise not be utilizing their suites.
Suite resale is happening. And it’s happening in almost every venue around the country, whether the home team is aware of it or not. Instead of ignoring it or policing it, a viable option exists to command it and profit from it.
This video content was published in partnership with Suite Experience Group.