Rob Hunden Presents State of the Industry Report at ALSD Conference
Rob Hunden, President & CEO of Hunden Partners ● Photo Credit: Hunden Partners
CHICAGO, July 16, 2024 (VSNewsNetwork.com) - Rob Hunden, President and CEO of Hunden Partners, a real estate development advisory practice, unveiled the firm’s annual State of the Industry (SOTI) report on July 15th at the 2024 Association of Luxury Suite Directors (ALSD) Conference & Tradeshow in Los Angeles. This year’s report highlights trends, statistics, and data-driven predictions for major league sports facilities and includes a special “College Sports Experience” spotlight.
Hunden Partners has presented its State of the Industry findings at the ALSD conference for eight consecutive years. The report provides a comprehensive analysis of the venue marketplace, evaluates current market conditions, and predicts developments for both major league and collegiate venues in the coming decades. Key data points in the report address new facility builds, renovations, naming rights deals, and team relocations.
“It was an honor to present our eighth annual SOTI report, which includes more valuable information than ever,” said Hunden. “We are grateful for our partnership with ALSD and are always happy to share the deep data analytics our firm is known for producing.”
This year’s report includes a “College Sports Experience” spotlight, examining the enhancement of college sports facilities to improve fan engagement and the visitor experience. Hunden identified a demand for more comfortable, diverse, and amenity-rich experiences at college sporting events, transforming college athletics into professional-level experiences similar to those in the NFL, MLB, NBA, NHL, and MLS. The report also tracks the evolution of collegiate power conferences since 1989 and their strategy to manage media rights value and the new NIL (name, image, and likeness) reality of college sports.
The SOTI report also provides an update on major league venues, with nearly $10 billion committed or underway in new or renovated facilities. According to the report, four new major league arenas and stadiums are under construction, with an investment of $6.6 billion. Additionally, six major league facility renovations are proposed or underway, with an investment of $3.2 billion. The report indicates that spending on new major league venues averages $2.9 billion annually on construction and nearly $750 million annually on renovations over the 2020-2028 period, totaling nearly $4 billion per year in major league stadium investment in North America.
Hunden Partners’ State of the Industry Report 2024 is available for download at https://hunden.com/downloads/.
For more information, visit https://hunden.com.
Source: Hunden Partners via Newswire
