The Growing Impact of Youth Sports Facilities
This June, our Vice Presidents, Shannon Barrows & Josh Akright, met with over 60 real estate brokers in the St. Louis area to discuss the state of the youth sports industry and the important role that multi-purpose sports facilities play in the ever-growing marketplace of youth sports tournaments.
The group was eager to learn more about the industry and the role they could play in facilitating economic growth in their community by bringing in more retail and commercial businesses to help support these up and coming facilities.
Here are just a few of the quick facts that were shared:
- In 2016, the youth sports market was valued at $15.5 billion in the USA, rivaling the size of the $14 billion NFL, and is expected to reach $41.2 billion by 2023.
- As the youth sports market grows, the demand for more dedicated tournament and youth sports-specific facilities has increased as well. One such example is the Grand Park Sports Campus, a 400-acres park & events center that opened in the city of Westfield, IN in 2014. In a recent economic impact study done by the city, they calculated 1.9 million total visits to the part in 2016 alone, garnering $244 million in economic impact for the area.
Of the meeting, Shannon said, “It’s always so exciting to get out there and talk to people who haven’t thought much about the concept of these new facilities and all of the possibilities that they bring for economic growth for the communities they all live in and want to help support. It’s just an amazing time to be a part of this industry and I’m so glad we have the opportunity to get out there and talk about it with groups like these.”
As experts in the tournament & event housing industry, Josh & Shannon also discussed the importance of having a partnership with a reputable housing company to ensure visitors’ satisfaction with their trip. With potentially millions of visitors coming to events at facilities like these year after year, it is crucial to have a solid game plan when it comes to managing visitors’ travel experience and making sure it is a smooth as possible.
If you’d like to learn more about our services or just want to schedule a chat like the one we recently had with this group, drop us a line by filling out the contact info below – we’d love to hear from you!