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
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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