Katapult, the international themed attraction design company, has published a new guide underlining the potential benefits from location based entertainment.
Property developers, property owners, and real estate investors stand to benefit commercially from including entertainment and experiences within their new or existing developments.
The global leisure travel market is expected to increase from $51bn in 2020 to $89bn in 2025, a compound growth rate of 11.5%. Improved earning capacity, growth of the experience economy, and an increase in reinvestment in travel and tourism will contribute to the significant increase in consumer demand for LBE offerings.
Of the many LBE experiences that have gone live over the last three years, none has created more of an impact than immersive art destinations, Omega Mart. Located inside AREA15 in Las Vegas, the experience has welcomed over 1,000,000 guests in its first year - generating higher revenue, footfall and dwell time within the whole development.
The guide also includes insights on key consumer trends:
Increasing leisure spend
Themed dining experiences
Immersive, overnight stays
Frequent, local experience days out
The guide also provides an introduction to the key components of creating a unique LBE offer within your portfolio. This includes the roles of designers, developers, architects, leisure operator and IP owner, to ensure a smooth and successful project completion.