Comperio Research was appointed by Everton Football Club to undertake a feasibility study to estimate the demand for Corporate Boxes and premium seats for a New Stadium in Kirkby.
Comperio Research was appointed by Everton Football Club to undertake a feasibility study to estimate the demand for Corporate Boxes and premium seats for a New Stadium in Kirkby, a short distance from their existing stadium. The objective was to gauge the demand, in terms of quantity and revenue, for a new stadium with modern hospitality and premium service.
Corporate box and premium seat packages were developed in Phase 1 and demand for the packages was tested via market sizing and demand curve estimation (logistic regression analysis) to provide financial modelling and yield projections.
Phase 2 focused on validating the pricing strategy by estimating the quantity of product demanded at a range of prices ±35%-45% (for Premium Seats) and ±40%-60% (for Corporate Boxes) of the prices recommended in Phase 1. This process identified the price point at which revenue would be maximised for each product, thereby providing financial modelling of projected 5 and 10 year revenue streams.
In summary, the aim of the quantitative phase of the feasibility study was to deliver the following indicative findings:
- The types of hospitality products best suited to the Merseyside market
- The acceptable price ranges for each hospitality product
- To provide indications of the economic feasibility of the proposed development
The second quantitative phase analysed the revenue potential of the products developed to a high confidence level to allow the results to be used by Everton FC in the raising of financing for the project.
A wide range of potential users of the stadium were targeted in the research, including local companies and SMEs, existing premium ticket holders and season ticket holders.