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...

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