Global Experience Specialists Boasts Positive 2015 Q4, Full-year Revenue Results
February 10, 2016
Last year was a good one for Global Experience Specialists, with the recent earnings report indicating that GES scored a 14.6 percent increase in Q4 revenues, from $213.4 million during the same quarter in 2014 to $244.5 million last year.
In addition, GES’ full-year revenues also saw a 3.4 percent increase, from $944.5 million in 2014 to $976.9 million last year.
“We had a very good 4th quarter for both of our businesses,” said Steve Moster, Viad president and CEO. He added that the 4th quarter beat expectations, and the full-year results were in line with expectations.
For the full-year, Moster said, “The more modest full-year revenue growth reflects solid performance from the acquisitions we completed during 2014, strong same-show growth and new wins that helped to offset significant negative show rotation and unfavorable exchange rates.“
He added that overall same-show growth of 8 percent was particularly strong last year.
In addition, strong revenues were driven as result of the acquisitions of several companies at the end of 2014 – including onPeak, Travel Planners, N200 and Blitz.
“2015 was a great year for the acquisitions,” Moster said. “They are now all fully integrated as well.”
Part of that integration was introducing the new companies and the services they offered – accommodations, registration and AV – to not only existing and potential clients, but also the company’s team members.
In order to make the integration as smooth as possible and support offering services based on clients’ needs, Moster said the leaders from all of the companies got together to “really understand the breadth of services provided, look at the opportunity map and (also) identify synergies between businesses.”
At the annual GES kick-off meeting last year, each of the business segments was presented in detail “to really bring everyone up to speed about each other,” Moster said.
Looking into the future, he added, the company wants to expand the existing offerings, such as onPeak, into overseas markets and bring overseas services, such as registration, over to North America.
As far as the overall outlook for this year, Moster said, “We continue to see good sales traction in both our new service offerings and in corporate and consumer events, as well as favorable industry conditions. Looking ahead, those factors, combined with positive show rotation, should result in substantial year-over-year growth in 2016."
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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