RevPAS is a comprehensive snapshot of how well you are attracting FANS and the effectiveness of your pricing strategy—think of it as an instant “health check” on your stadium. Analyzing over time guides your business’ short, medium, and long term decisions as well as growth of market share.
Like with any measure of growth or decline, the most common approach is to track changes against the same matchday or period of time in previous year(s). Imagine that your team plays the same tournament each year, and last season your seats sold were higher than projected. This year you decide to raise ticket prices to capitalize on this opportunity. Or imagine that your team is playing a new tournament, i.e. the Champions League, or it is playing in a higher division this year, and you decide to raise ticket prices too. Well, analyzing RevPAS will indicate whether this approach was a success.
If RevPAS increased, you have learned that attendance levels were higher or similar to last season and increasing ticketing rates was a great idea. But if your RevPAS decreased, this indicates that your FANS found beNer ideas to do during a matchday. As you can see from this example, RevPAS is the clearest indicator of your stadium’s performance and market share.
Of course, there are many other factors to take into consideration, and this is why benchmarking against other club’s stadium performance is vital. Just because your RevPAS fell by 4% does not mean you are in a crisis. What if the competition experienced a 10% drop because FANS are less engage this year with the sport or competition? In this instance, your strategy is limiting the impact of whichever external factors are affecting the rest of the market.
These are the kind of quick insights you can share with colleagues, team members or board of directors to ensure everyone is informed and working in the right direction.
RevPAS is particularly helpful to sport clubs and sport stadium operators as it is both simple and comprehensive, while being easy to access.
It’s really as simple and easy as that! Reliable and accurate data is then delivered to you in a timely manner.
Are you interested in how your stadium performed in recent years? Get in touch with us here and enquire about our Seat watcher, Pace Watcher and Facility Watcher data solutions.
