finance

Congress Messe Innsbruck generates €360m for local region

Congress Messe Innsbruck (CMI) generated €360m ($397m) in gross added value for the region in the 2017/18 financial year.

Global hotel rates predicted to rise in Hotel Monitor 2020 report

American Express Global Business Travel (Amex GBT) has published its Hotel Monitor 2020 report, predicting ‘modest’ rises in hotel prices next year.

GL events grows revenues 9% in 2019

Half-year financial results from global events company GL events report a 9% rise in revenues and a ‘significant’ improvement in profitability.

Ascential reports growth for Cannes Lions and Money 20/20

Global information, data and events company Ascential plc’s interim results for the six months ended 30 June 2019, point to strong strategic progress and organic growth in revenue and profit.

Scottish Event Campus records best ever financial year

The Scottish Event Campus has recorded its most successful financial year ever for 2018/19. Trading turnover at the venue increased by 21% to £35.1m, and EBITDA increased by 27% to £4.9m. The economic impact of the campus generated net additional expenditure of over £1.25m per day in the Glasgow area, a total of £457m for the year. Conferences enjoyed a record year with 55% growth in turnover driv...

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,...

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