Global Experience Specialists Overall Q3 Revenue Down, Same-show Revenue Up
November 1, 2015
Negative show rotation was a key factor in Global Experience Specialists’ overall U.S.-based third-quarter revenue posting a 14.6 percent decrease to $143.5 million, compared with the same quarter last year with $168.1 million.
Even with the dip, the good news was same-show revenue continued to surge with 4.7 percent growth in the third quarter, compared with the same quarter last year.
“GES delivered better results in the third quarter than we had previously anticipated. We continued to see stronger same-show growth, short-term bookings and sales to corporate clients,” said Steve Moster, Viad’s president and CEO, GES’ parent company.
He added, “Our acquisitions of onPeak, Blitz and N200 are performing well and we continue to have success cross-selling these new services into our client base. We expect strong execution and favorable industry conditions to continue, resulting in meaningful year-over-year growth during the fourth quarter.”
Moster said the same-show growth also was “stronger than expected.”
The same-show growth has been a result of not only the show itself growing, but also selling more into the actual show, he added.
“Same-show growth bodes really well for the exhibition industry overall,” Moster said.
Cross-selling some of the new services, including registration into the Middle East division, as well as to existing clients, such as Labelexpo Americas, was a boost for GES as well.
In addition, clients, such as Solar Power International that already had AV services and signed on also for general service contracting 2016-2018, continued to add to GES’ success.
Moster said the company also was “building more of a presence in the consumer and corporate” areas.
One such effort is a Walt Disney, five-city “Frozen Fall Festival” tour and another is an America’s Cup fan experience exhibition that tours to different ports.
Overall, Viad Q3 revenues dipped 14.6 percent to $255.9 million, compared with $299.8 million from the same quarter last year.
These results beat expectations, Moster said, “Our Marketing & Events Group continues to deliver better than expected performance. As a result, our income per share before other items came in above our prior guidance for the quarter.”
Partner Voices
Dallas already boasts 35,000 hotel rooms, award-winning global cuisine, and a walkable downtown. But we are just getting started.
Visit Dallas is thrilled to announce that the city of Dallas is doubling down with a massive new convention center and entertainment district. Featuring 800,000 square feet of exhibit area, 260,000 square feet of meeting rooms, and 170,000 square feet of ballroom. The center will connect business travelers with dining and shopping options in the popular Cedars District means more places to get down to business, and even more ways to unwind.
“Dallas is already a great meetings and conventions destination, with the accessibility of two major airports, affordable labor, and an outstanding hotel product,” said D. Bradley Kent, Visit Dallas senior vice president and chief sales officer. “The new center and Convention Center District will enhance Dallas’ competitive position and are exactly what our customers’ need and have been asking for."
What’s New – AT&T Discovery District
Located in the heart of Downtown Dallas, this new district on the AT&T corporate campus is tailor-made for groups of all sizes. It boasts a multi-sensory experience, including outdoor event space, the AT&T Theater, and multiple dining outlets including JAXON Beer Garden and The Exchange, a bustling food hall.
Hotels Coming Soon
Names like the JW Marriott (Downtown), lnterContinental Dallas (Uptown), and Hotel Swexan (Uptown) are adding luxury amenities and bountiful event spaces. The projects will debut in 2023 and beyond.
JW Marriott
This new, 15-story, 283-room hotel will open in the heart of the city’s downtown Arts District this year. The property features a 25,000-square-foot grand ballroom, as well as a spa, restaurant, lobby bar, fitness center, and a rooftop pool deck and bar.
InterContinental Dallas
Located in Cityplace Tower in Uptown, InterContinental Dallas will feature sweeping panoramic views of the Dallas skyline. Guests will enjoy spacious, high-end rooms and amenities, including more than 21,000 square feet of event space.
Hotel Swexan
Hotel Swexan, a new, 22-story luxury property, is rising in Uptown’s Harwood District and will make its mark on the Dallas skyline. Opening this year, it is a sculptural building with cantilevered upper floors, as well as a 75-foot rooftop infinity-edge swimming pool and a hidden underground lounge.
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