UK venue group etc.venues recently announced it is to break into the New York market with its urban day meeting venue template.
With a first 4,200sqm venue revealed in Madison Avenue, etc.venues tells CMW it expects to announce a second venue contract within a month, with a third to follow, and have all three operational within 12 months. The move Stateside is on the back of a $35m investment, including from its US partners.
With a 17th venue recently announced in the UK, etc.venues has now overtaken Hilton and Marriott with a total of 278 meeting rooms. The company also says it plans to double the size of the entire business over the next 3-5 years.
Etc’s 17 UK venues currently host 900,000 delegates a year and 18,000 events. Adam Simpson, head of group sales for etc.venues told CMW: “We received unprecedented interest at IMEX this year, with $2.2m of enquiries across London and New York. The announcement of etc.venues 360 Madison generated half a million dollars for the venue at the show. The resulting interest in site visits certainly demonstrates the appetite for a stylish new contemporary space in Manhattan.”
Nick Hoare, etc.venues’ COO in UK added: “We’re very pleased with the progress made since announcing etc.venues 360 Madison and we expect the team to grow rapidly to keep up with demand. We have three sales team members already on the ground in New York and are looking to double this by the end of the summer. Our ambitions and the speed at which we anticipate growing over the next 12 months, based on this initial interest, have accelerated our recruitment plans.”
Image taken from the Virtual Tour of etc.venues 360 Madison