finance

GL Events revenue increases to €340.2m in Q1 2019

Global organiser GL Events has announced its revenue for the first quarter of 2019 grew 19%, to €340.2m. This included 8% from organic growth and 12% from acquisitions, with the adverse impact of foreign exchange on sales 1%. Olivier Ginon, GL events Group’s Chairman, commented: “I wish to thank our teams for the strength of their engagement which contributed to the good business momen...

New £400m London investment for ‘entertainment and hospitality’

A new £400m investment fund has been established for London, which will be used for the hospitality and entertainment sectors, as well as education and healthcare. The fund is established by Astarte Capital Partners, a global investment platform based across Europe, North America and Australia. The group says the focus of the fund is on transforming ‘prime infill and edge-of-prime real estate into...

Bed tax: funding stream or destination nightmare?

Phillip Cooke (pictured below left) investigates the contentious issue of bed tax, which has sprung up in many destinations around the globe. But is it a solution, or a further problem?   Many countries and cities are able to  devote large sums of money to promoting and developing their tourism industries via a system that taxes the visitor, not the host. These competing regions, most notably...

Bid Fund secures AUD$190m worth of events for Australia

Tourism Australia’s Business Events Bid Fund Programme (BFP) has helped to double the value of business events secured by the country over the past three months to a new milestone of AUD$187m (US$133.7m). The BFP has also helped boost the number of applications received from the Australian business events industry, which have now reached 79 since the fund’s launch. Total expenditure by inter...

Los Angeles Convention Center hires Vice President of Operations and Vice President of Finance

The Los Angeles Convention Center (LACC), owned by the City of Los Angeles and managed by AEG Facilities, has announced the appointment of Shaun Davis, CVP (pictured left) as the new Vice President of Operations and Ben Zarhoud, CPA (right) as the new Vice President of Finance. Shaun joins the LACC from Salt Lake City, Utah with over 20 years of operations management experience. He most recently s...

UK’s The O2 appoints new Vice President & general manager

The United Kingdom’s The O2 has announced the appointment of Steve Sayer (pictured left) as vice president and general manager, and Danielle Kennedy-Clark (pictured mid) as deputy general manager. Currently in the roles of commercial director and operations director (respectively), their promotions follow the recent appointment of John Langford (formerly VP & GM, The O2) to chief operati...

AEG Europe appoints new Chief Operating Officer and Financial Officer

AEG Europe has announced the appointments of John Langford as Chief Operating Officer, Paul Reeve as Chief Financial Officer, and Emma Bownes in the newly created role of Vice President of Programming across AEG’s European venue portfolio. Langford previously served as Vice President and General Manager of The O2, while Reeve served as Finance Director of The O2 & The SSE Arena, Wembley,...

Saudi conference generates $34bn in deals despite Khashoggi pull-outs

Around 40 key withdrawals by speakers and delegates for Saudi Arabia’s Future Investment Initiative conference, 23-25 October, (also known as ‘Davos in the desert’) did not stop the Saudis heralding the event as a facilitator for deals worth US$34bn. Outcry over the death on 2 October of Jamal Kashoggi, who is believed to have been killed in the Saudi consulate in Turkey, resulted in many high pro...

Emerging Payments Association launches Asian chapter at SIBOS Sydney

The Emerging Payments Association (EPA), founded in the UK back in 2004, has used the platform of the SIBOS event in Sydney (22-25 October) to launch its Asian chapter, EPA Asia. The EPA, which has 130 corporate members in Europe and Africa, is working to strengthen and expand the payments industry through connecting the ecosystem, encouraging innovation and profitable business growth. The ribbon ...

World’s premier finance event comes to Sydney for a third time

SIBOS, heralded as the world’s premier financial event, opens in Sydney 22 October, with organisers expecting 7,000 attendees from around the world. The annual conference, exhibition and networking event draws business leaders from a range of financial institutions, multinational corporations and technology partners and is in its 40th year. Organisers this year hope to ignite conversation between ...

Cape Town ICC appoints new chief financial officer

The Cape Town International Convention Centre has announced the appointment of Wayne De Wet as its new Chief Financial Officer (CFO). De Wet is responsible for, amongst other duties, developing and implementing the CTICC’s financial strategies, strategic leadership of finance and supply chain management, as well as growth and resource management within the finance department. Julie-May Ellingson, ...

Khashoggi journalist disappearance scares away Saudi conference attendees

US finance experts have pulled out of an investment conference due to be held in Saudi Arabia, citing the outcry over the alleged disappearance and murder of Jamal Khashoggi. The Future Investment Initiative (FII) had been nicknamed ‘The Davos of the Desert’ and billionaires Steve Schwarzman (Blackstone) and Larry Fink (Blackrock) are the latest names to distance themselves from the conference. It...