CEIR TOTAL Index: Trade Show Industry Continues Its Growth Streak in Q1 2018
May 31, 2018
The Center for Exhibition Industry Research reports that the recent growth of the exhibition industry continued during the first quarter of 2018.
The performance of the industry, as measured by the CEIR Total Index, posted a decent year-over-year gain of 1.8 percent, even though it underperformed the overall macroeconomy.
"The increase in the first quarter supports our prediction that the exhibition industry will finally enter into an expansion phase in 2018 with the Total Index surpassing its previous peak," said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc.
Building, Construction, Home and Repair; Industrial/Heavy Machinery and Finished Business Inputs; and Government all registered robust year-over-year gains.
In contrast, Consumer Goods and Retail Trade and Education posted year-over-year declines.
Just one first quarter mega-show that boosted its numbers was CES, the world’s largest consumer technology event, which set a new size record this year with a 2.75 million net square foot expo floor featuring 3,900 exhibitors.
Held Jan. 9-12 at the Las Vegas Convention Center and venues throughout the city, the 51st annual event for the global tech industry attracted more than 175,000 attendees from 150 countries.
In 2017, CES spanned 2.6 million net square feet, with its attendance and exhibitor numbers on par with this year.
All exhibition metrics in the first quarter posted positive year-over-year gains. Real revenues (nominal revenues adjusted for inflation) posted the largest increase of 2.8 percent, followed by net square feet which rose 2.0 percent, whereas attendees and exhibitors gained 1.8 percent and 0.7 percent, respectively.
“The first quarter of 2018 demonstrates that even in times when some sectors may be struggling, the total CEIR Index indicates the exhibitions industry is poised for steady growth,” said CEIR CEO Cathy Breden, CMP, CAE.
The CEIR Event Performance Analyzer provides exhibition organizers with a tool to measure how an event is performing in its sector, as well as the overall industry.
The CEIR Index Report provides an economic overview of the exhibition industry, including key indicators for growth. Together, these resources provide insights for developing business strategies and goals.
The annual CEIR Predict Conference, scheduled 13-14 September at the MGM National Harbor, will provide exhibition professionals with insights from Chief Economist Dr. Lindsey Piegza of Stifel Fixed Income. Dr. Piegza will help attendees understand the economic factors impacting the exhibitions industry.
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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