Hunden Partners Presented State of the Industry Findings to Association of Luxury Suite Directors 2023

Share This Post

Seventh Annual ALSD Design & Build Conference Highlights Hunden's Data-Driven Predictions in Major League Sports Facilities

Hunden Partners presented its 2023 State of the Industry findings in Indianapolis, IN

ALSD Design & Build Conference Highlights Hunden Partners' Data-Driven Predictions in Major League Sports Facilities.

Hunden Partners (Hunden), a full-service, national real estate development advisory practice, presented its latest State of the Industry findings at the 2023 Association of Luxury Suite Directors (ALSD) Design & Build Conference, which took place July 9-11, 2023, at the JW Marriott in Indianapolis. Hunden's annual State of the Industry report highlights data-driven predictions and trends in major league sports facilities.

Rob Hunden, Hunden's President & CEO, presented the findings to attendees, including statistics on facility development and renovation expenditures, specific profiles of all new and proposed major league facilities, and cost trends. Globally, the spectator sports market is a $185.34 billion industry in 2023, and premium seating and experiences are an essential contributor to revenue generation for pro and college teams. 

"Premium seating directors are charged with managing one of the most crucial revenue sources at major venues, and it's imperative that they stay abreast of trends, opportunities, and challenges affecting sports facilities and event hospitality," says Hunden. "We've enjoyed our partnership with the ALSD and will continue to share our expertise to support its members' success."

Highlights from Hunden's State of the Industry report include:

  1. Major League Sports Projects: In 2023, there are about $4.5 billion worth of major league sports projects under construction. The total spending on new major league facilities is increasing, despite fewer venues being constructed.
  2. Cost per Venue: The average cost per new venue across the three most recent openings varies across different leagues. The NFL has the highest average cost at $2.8 billion, followed by MLB at $1.6 billion, NBA at $1.3 billion, NHL at $946 million, and MLS at $643 million.
  3. Renovations:  Over the past 10 years, an average of nearly $1 billion has been spent per year in major league renovations across the five leagues. 
  4. New Builds and Renovations in Major Leagues: The report provides updates on new builds and renovations in each of the major sports leagues, including NBA, NFL, MLB, NHL, and MLS.

Hunden also presented insights on mixed-use district trends and the increasing role they play in funding and development models for new major league venues. Mix-used districts have been proposed or initiated in several major league efforts, including: 

  1. Houston Astros Minute Maid Park 
  2. Cleveland Browns
  3. Rogers Place ICE District (Edmonton, Canada)
  4. San Jose Sharks SAP Center 
  5. Honda Center Entertainment District (Anaheim, CA)

"Team owners see a diversified asset base of real estate as key to estate planning, especially if the team is their primary asset," explained Hunden. "More important, these districts create a sustainable mixed-use neighborhood model if well-conceived and executed, as well as a basis for new tax funding streams for any public investment in the area."  

Rob Hunden's full presentation, State of the Industry 2023, is available for download at

About Hunden Partners 

Hunden Partners is a leading real estate and destination development consulting firm, with professionals in Chicago, San Diego, and Minneapolis. The firm offers a full range of advisory, market and financial feasibility, economic and impact analyses for specialty destination assets such as sports facilities, mixed-use, and entertainment districts, convention and expo centers, hotels, entertainment venues, theme parks, recreation facilities, and other economic development projects.

In addition, Hunden also provides the developer solicitation and selection experience to move projects from concept to funding and execution. Hunden's clients include cities, states, universities, DMOs, authorities, and private developers. Hunden has worked on more than 1,000 studies and has had a hand in the development of more than $20 billion in open or underway projects around the world.

For more information, please visit:

Contact Information:
Laura Sportiello
Vice President, Business Development

Original Source: Hunden Partners Presented State of the Industry Findings to Association of Luxury Suite Directors 2023

Related Posts

VIP Minds CEO and Visionary Nora Abou Chakra Launches ‘Power Hearts,’ a Transformative Initiative Driving Social Change

CEOs revolutionizing philanthropy through inspiring charitable actions

Today marks the launch of "Power Hearts," an innovative initiative led by businesswoman and visionary Nora Abou Chakra. With each endeavor, Power Hearts embarks on a different mission, empowering CEOs to take direct action and make a tangible impact. Through immersive experiences and hands-on involvement, Power Hearts addresses pressing societal issues, fostering empathy and inspiring CEOs to become advocates for change within their organizations and communities.

Nora Abou Chakra, a respected entrepreneur known for her philanthropic endeavors, has once again demonstrated her commitment to driving social change with the launch of Power Hearts. Under this empowering initiative, CEOs from diverse industries come together to tackle pressing issues and create transformative solutions.

An example of these missions is hunger. Power Hearts combats hunger and alleviate the suffering of those affected by it. CEOs gather in a large-scale communal kitchen, where they actively participate in purchasing groceries and cooking meals for those in need.

The immersive experience provided by Power Hearts goes beyond the kitchen. CEOs physically hit the streets, personally distributing the freshly prepared meals to individuals experiencing hunger. This direct interaction with those in need further deepens their understanding of the issue, sparking a profound connection and a sense of shared humanity.

CEOs return to their organizations with a renewed perspective and a profound commitment to addressing the issue of hunger. They become ambassadors for change, leveraging their influence and resources to advocate for hunger relief initiatives within their respective communities and among their staff members.

Nora Abou Chakra, the driving force behind Power Hearts, expressed her enthusiasm for the initiative, stating, "Power Hearts aims to create a ripple effect of compassion and advocacy. By immersing CEOs in the realities of pressing social issues, we ignite a powerful drive for change that reverberates throughout their personal and professional spheres. Together, we can make a significant difference and create a more compassionate and equitable world."

Power Hearts represents Nora Abou Chakra's unwavering commitment to leveraging the influence and resources of business leaders for the greater good. By providing CEOs with transformative experiences, Power Hearts empowers them to become catalysts for change and advocates for social causes that resonate with their hearts.

For more information about Power Hearts and its upcoming initiatives, please visit or follow us on @power.hearts

Contact Information:
Stephanie Khalil
Executive Assistant to CEO

Original Source: VIP Minds CEO and Visionary Nora Abou Chakra Launches 'Power Hearts,' a Transformative Initiative Driving Social Change

NAACP Excellence in Teaching Award Winner Andee Nunn Releases Memoir, ‘Magic in Room 216’, on Cyber Monday

Profound Education and Inspirational Life Journey Enshrines Era of Inclusion DANBURY, Conn., November 27, 2023 (New...
green agriculture project
- Part of VUGA Media group -best seo company