Despite Predicted Negative Show Rotation, Global Experience Specialists Sees Q2 Revenue Uptick
July 28, 2014
The second quarter of this year was supposed to be a challenging one for Global Experience Specialists and its parent company Viad, with $12 million in predicted negative show rotation to contend with.
Despite that, though, Viad saw an uptick in revenues to $256.4 million during the second quarter of this year, compared with $246.2 million in 2013.
Paul B. Dykstra, chairman, president and CEO of Viad, said of the overall company’s results, “As expected, we delivered meaningful growth in the second quarter. The Marketing & Events Group and the Travel & Recreation Group both posted increases in revenue and operating income.”
The U.S. Marketing & Events division also saw revenue increase to $168.8 million in the second quarter of this year, compared with $155.5 million during the same quarter last year.
Steve Moster, president of GES, said of their division’s positive results this quarter, “In the second quarter, global show rotation was negative $12 million. Revenues were up, despite negative show rotation as a result of some excellent clients wins, same-show growth, as well as providing electrical and new audio visual services."
He added that GES signed several new client wins in the second quarter, including big brand accounts in industries as varied as pharma, defense, telecom, consumer goods and business services.
In addition, the company recently won the AV contract for Solar Power International in Las Vegas this October.
GES will provide all AV equipment and production for this event, including general session, breakout rooms, exhibits and show management needs.
The company also signed a five-year contract renewal to produce the American Society of Cataract and Refractive Surgery Symposium.
With $45 million in positive show rotation predicted for the third quarter of the year, GES seems to be having a good 2014 so far.
International Manufacturing Technology Show, on tap in September in Chicago, and International Woodworking Fair, in August in Atlanta, both rotate into the third quarter, as well the National Safety Council’s annual event, scheduled for September in San Diego.
“New show wins will add to our revenues, and we expect to benefit from continued same-show growth,” Moster said.
Partner Voices
Just when it seems like Las Vegas can’t get any bigger, brighter or more exciting for groups, MGM Resorts raises the bar again. The company continues to invest and innovate across its portfolio of Las Vegas resorts, with new attractions and upgraded experiences for attendees of all interests.
Remodeled Guest Rooms
MGM Grand is the largest single hotel in the world with over 5,000 guest rooms and an 850,000-square-foot conference center. It is home to the newly remodeled MGM Grand Studio Tower—700 reimagined guest rooms with a fun mid-century vibe. Nearby, the iconic New York-New York Las Vegas Hotel & Casino recently completed a $63M redesign and remodel of its 1,830 guest rooms and 155 suites.
Down the street, Bellagio Las Vegas is sporting renovated rooms in the Spa Tower with sunrise-inspired decor and luxurious soaking tubs in Premier King rooms after a $110-million transformation.
Reinvented Luxury Experiences
The Luxury Meetings District, made up of Bellagio Las Vegas, ARIA Resort & Casino, Vdara Hotel & Spa, The Cosmopolitan of Las Vegas, Park MGM and NoMad Las Vegas, is now more connected than ever before. A new interior walkway opened this October for a seamless attendee experience – connecting Vdara, Bellagio, and The Cosmopolitan of Las Vegas, guests can now walk from Park MGM to Bellagio in around 15 minutes.
New on the scene in the Luxury Meetings District is Cathedrale at ARIA, TAO Group’s upscale establishment specializing in exquisite French-Mediterranean cuisine offering elevated private dining experiences that opened in May.
Heralded by World’s Best 50 Restaurants, GQ and VOGUE, LPM at The Cosmopolitan of Las Vegas is opening this fall and will deliver its signature spontaneity and imaginative celebration of France’s Mediterranean cuisine, art, and culture to the unique luxury resort in impeccable fashion.
A “New Wave for Mandalay Bay
A new wave of enhancements and experiences has arrived at Mandalay Bay Resort and Casino, including Flanker Kitchen + Sports Bar, an 8,445-square-foot restaurant that opened this June, perfect for pre- and post-game eats and drinks. Event planner’s favorite, Chef Michael Mina’s StripSteak, received a full renovation and now includes one of the largest private dining rooms on The Strip. Retro by Voltaggio debuts a one-year residency with a fun take on pop culture of the 80s and 90s with classic American dishes. An exciting addition planned for 2024 is Swingers, a 40,000-square-foot oasis of street food, miniature golf and art at Mandalay Bay.
Most exciting for meeting planners, the 2.1 million-square-foot Mandalay Bay Convention Center is undergoing a complete refresh, with lightened space, added eye-catching art, and improved technology infrastructure for even more flexible space. Energy-efficient digital signage now leads the way with faster internet speeds and new AV options.
From renovated guest rooms and meeting spaces to celebrated dining options and dedicated teams, MGM Resorts is dedicated to delivering exceptional and innovative meeting experiences.
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