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
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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