Punchestown draws the corporate crowd

We're betting that a few deals will be initiated, or maybe even closed, at Punchestown next week, as it looks as if a large chunk of the business community is heading to the Kildare venue to go racing and do a bit of relationship building.

Whatever about the other metrics out there, the country's premier racing festival, which kicks off on Tuesday and runs until the following Saturday, is sending out some positive economic signals.

Upbeat bulletin
This week, Punchestown issued an upbeat bulletin, revealing that ticket sales for the 2013 national hunt festival are 8 per cent ahead of last year, more overseas visitors are on the way and total prize money for the event's 37 races will be €2.2 million.

One detail that caught our eye was the fact that corporate entertainment is on the way back, with no fewer than 650 companies entertaining clients and customers at the Co Kildare venue next week.

Sales and marketing director, Liam Holton says that corporate sales are at “their best in years”. Assuming it’s a sign that businesses are back out there looking for, well, business, let’s hope it pays off for a few.

Corporates are paying their share of the €2.2 million prize fund. All 37 races are sponsored, with the five headline events for each day retaining their backers: Boylesports, thetote.com, Ladbrokes, Rabobank and AES.

Some others, including Ryanair and Growise are maintaining their relationship, and there's representation from a number of sectors, including pharmaceuticals, IT, financial services and hospitality. Their brands will be directly displayed to about 100,000 racegoers next week, as well gaining media exposure.

Last year, a study by no lesser an institution than Maynooth calculated that the festival is worth €57 million to the local economy. Punchestown is optimistic that it can beat that figure in 2013.