Sales of official hospitality packages for London 2012 have surpassed expectations and generated more than £100 million in sales, according to the company responsible for the programme.

Prestige Ticketing, a joint venture between French catering company Sodexo and the British hospitality firm Mike Burton, is London 2012’s official operator for the packages, which include world-class hospitality in the official Olympic and Paralympic Games venues along with top-category event tickets. London 2012 has marked the first time such an initiative has been put in place in Olympic Games history.

“We felt if there was anywhere this could work, it would be London,” Alan Gilpin, chief operating officer of Prestige Ticketing, told Reuters. “We set out to sell £100 million worth and we’ve gone past that.” Asked if Prestige had returned a profit, Gilpin said: “Yes, but not as much as we set out to make.”

Explaining the shortfall, Gilpin said Prestige, which was permitted to buy around 80,000 Games tickets, had priced some of its packages conservatively and spent £9.5 million on building its temporary venue on the Olympic Park. Gilpin admitted that fears over the implications of the UK’s new anti-bribery laws had deterred some British companies from investing in packages, leading to a more international client base.

“It’s had an impact on UK hospitality sales,” he added. “We ended up selling more internationally than was the original objective of the programme.”