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The UK Corporate Hospitality Market Development defines Corporate Hospitality as “any event for the benefit of an organisation entertaining clients or staff, or prospective clients, at the organisation’s expense”.
“Corporate entertaining and hospitality can be an effective way of creating networking opportunities and cementing business relationships”[1]. It is has become increasingly important in recent years as the cost of customer acquisition has risen to four or five times the cost of keeping an existing client. Hospitality plays a key role in developing and maintaining customer relationships within business.
References
- ^ "Maximising the value of hospitality", Sport Business, 2004
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