2018 CUBO benchmarking underlines importance of commercial services
19 December 2018
CUBO's annual benchmarking of commercial service areas has for the first time been summarised and published in a report. The report analyses commercial income from accommodation, catering and conferencing as well as rents and salaries. The 2018 survey was completed by approximately a third of the universities affiliated to CUBO, equivalent to just under 20% of the UK's higher education institutions.
The report shows accommodation representing around 75% of all income, with catering at 17% and conferencing at 8%. Total commercial income is up 3% on the previous year.
Around 30-50% of CUBO members participate in the annual benchmarking and in return receive the full raw data. The survey, which will be expanded in 2019, provides essential business data for university commercial directors and managers.
The 2018 results were presented at the CUBO winter conference at Leeds Beckett University in November, where two further research initiatives were announced. In 2019 CUBO will undertake research into the campus experience and student accommodation supply and demand.
“Our aim is to provide benchmarking that complements the excellent work of our fellow associations while addressing the specific needs of our members,” says Jo Hardman, CUBO Vice Chair and Head of Commercial Services at Lancaster University.