On-site Hospitality Tickets for London 2012 Receiving No Interest

With the London 2012 games fast approaching, just over a third of on-site hospitality tickets for the Games have been sold to date by Prestige Ticketing.

But the lack of interest has not deterred the company with sole corporate hospitality rights inside Olympic venues as they expect to pick up sales.

Prestige Ticketing won a tender by Olympic organisers Locog for some 90,000 tickets – about one per cent of the total allocation but more than 60% of the company’s deals are still on offer. The general expectation from industry insiders have suggested that a much higher proportion of packages to have been sold after nearly seven months of sales.

In the much-criticised public ballot for tickets earlier this year, top-tier tickets at the Olympic ceremonies cost £2,012, ($3,080) with the best seats at athletics events going for £750 ($1,148). The cheapest of Prestige Ticketing’s deals cost £495 ($757), while the most expensive £4,500 ($6,887) packages are being sold in batches of 10 and secure seats at the ceremonies or prized athletics and cycling finals.

At the Olympic Park, Prestige Ticketing is building a £7.5m ($11.5m) three-storey pavilion catering for 3,000 guests at a time, just 70m (77 yards) from the main stadium.

Hospitality venues will also be located at Greenwich Park, North Greenwich Arena, Horse Guards Parade, Eton Dorney and Wimbledon.

The economic downturn meant traditional customers in finance and advertising had been joined by companies in sectors like construction, energy and resources, said the company. While corporate packages at the women’s hockey final had been the first to sell out, there had also been strong demand for the tennis at Wimbledon, rowing at Eton Dorney and equestrian events in Greenwich, said the company.

Prestige Ticketing’s Marketing Director Tony Barnard believes it will be a matter of time before the rest of the tickets are sold.

“We’re seeing a significant increase in sales activity. The ballots for tickets have ended so people know that if they want to go, there’s only one way left to go,” he said.