Global Experience Specialists’ 2016 Q1 Revenues Dip 8.1 Percent
May 6, 2016
Revenues for the Marketing & Events Division of Viad, which is Global Experience Specialists, dipped 8.1 percent in the first quarter of 2016 to $236.1 million, compared with $256.9 million during the same period in 2015.
“We saw lower year-over-year revenues during Q1 from corporate clients and short-term event bookings,” said Steve Moster, Viad’s president and CEO. “This was really due to a shift in timing, as we’re seeing stronger activity in the back half of 2016. “
Some of the decrease in revenues was a result of a few large shows that were in an off year, such as Promat in the U.S. and IDEX in the United Arab Emirates.
Even so, there was good news in that same-show revenues saw an increase of 5.3 percent in the first quarter of 2016.
“Importantly, the industry overall continues to perform well with growth across the key metrics of square footage, exhibitors and attendees,” Moster said.
He added, “On top of that, we’ve been successful leveraging our full range of services to capture additional spend on our events.”
GES also recently scored a major contract overseas.
“GES secured a three-year contract from the Dubai World Trade Centre to be official service provider between 2016 and 2018,” Moster said.
He added, “GES will provide project management, graphics, feature design, furniture, flooring and a full range of exhibitor services to major industry events such as Gulfood, Dubai International Boat Show, Cabsat, World Art Dubai and GITEX.”
Also overseas, the company launched a registration and data analytics services in the United Arab Emirates during the first quarter and secured 17 projects in that market.
“The team is hard at work developing additional functionality for the platform to support our planned registration and data analytics services launch in the U.S. later this year,” Moster said. “We’re excited to expand the services and capabilities that we are able to provide to our clients.”
The rest of the year will keep GES busy as well, with non-annual events the International Manufacturing Technology Show, MINExpo and the Farnborough Air Show all on the calendar.
As far as Marketing & Events Group revenues through 2016, show rotation is expected to have a net positive impact on full year revenue of $50 million versus 2015, according to GES officials.
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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