Viad Q3 Revenues Slightly Up; GES Sees Nearly 11-percent Increase in Base Same-show Growth
October 22, 2011
Global Experience Specialist’s parent company, Viad, recently released its third-quarter earnings, and while numbers for the Marketing & Events Group, of which GES is a part of, were down because of negative show rotation, base same-show numbers scored a nearly 11-percent increase, compared with last year’s Q3 numbers.
Viad’s overall revenues saw a 1-percent increase in the third quarter to $216.2 million, compared with the same period last year, as well as $1.2 million in net income. The Travel & Recreation Group also saw growth in the third quarter, with revenues jumping from $12.5 million last year to $64.5 million during the same period this year.
“Viad’s third quarter 2011 earnings reflect strong performance from our Travel & Recreation Group, which realized significant growth during its busiest quarter,” said Paul Dykstra, Viad’s chairman, president and CEO. "This growth was driven by the addition of two properties to our Glacier Park portfolio and organic revenue growth at Brewster.”
He added, “Our Marketing & Events Group realized base same-show revenue growth of nearly 11 percent. As a result of this increase and growth in other lines of business, the Marketing & Events Group substantially offset the impact of expected declines from negative show rotation, as a number of trade shows that took place in the 2010 third quarter are every-other-year shows that will occur again in 2012.”
Total third-quarter revenues for the Marketing & Events Group were $151.7 million, which was impacted by $29 million in negative show rotation. The good news, though, was positive base same-show growth for the fifth quarter in a row, signaling continued optimism in the trade show industry.
“It’s a very good quarter with same-show growth, as well as new wins,” said Steve Moster, president of GES. “I am very excited about where we ended up in the third quarter.”
The growth came from increased square footage, exhibitors buying more services and increased marketing budgets, he added.
Besides the chain of positive quarters in a row, he added, another good indication of a recovery underway in the trade show industry is the fact that this year’s year-to-date Marketing & Events Group revenues also were up.
Some of the many high points in the third quarter for Viad’s Marketing & Events Group included designing and building the World Trade Center sales office in New York, the “Harry Potter” touring exhibition in New York’s Times Square and the Nike facility in Caesars Palace in Las Vegas.
“Despite negative show rotation, we’re very proud of the team at GES team for finding new opportunities,” Moster said.
He added, “The global economy is uncertain, but, despite headwinds, we think there will continue to be same-show increases through the end of 2011."
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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