Contract analysis
Contract transitions 2026: who is taking share
A review of hospitality contract movement across professional and collegiate venues, and the factors that decided each award.
SportFB ResearchMay 19, 20269 min read
Executive summary
- 01
Capital contribution appeared in the majority of contested awards reviewed this cycle.
- 02
Development-linked operators won a disproportionate share of new-build and major-renovation venues.
- 03
Collegiate athletics remains the most price-sensitive segment.
Key metrics
- Transitions reviewed
- 38
- Awards involving operator capital
- 58%
- Incumbent retention rate
- 46%
Net property change by operator
Levy
9
Legends
8
OVG
7
Aramark
2
Sodexo Live
1
Delaware North
-4
Decisive factors by segment
| Metric | Pro stadium | Pro arena | Collegiate |
|---|---|---|---|
| Premium design | High | High | Medium |
| Capital contribution | High | High | Low |
| Unit economics | Medium | Medium | High |
| Technology stack | High | Medium | Medium |
“The bid we lost was decided in the capital section, not the culinary section.”