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VENUE OUTLOOK 08

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Las Vegas. Why Las Vegas is so Strong. Hotel rooms; 6 million square feet of exhibition space ... 550 room Delano Las Vegas. All four hotels at a glance: ... – PowerPoint PPT presentation

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Title: VENUE OUTLOOK 08


1

VENUE OUTLOOK 08

Facilities to Facilitators
International Convention Center Conference 2007
Boston, MA
2
Themes
  • Convention Centers
  • Marketing
  • Technology
  • Exhibitors
  • Las Vegas
  • Airports Convention Centers
  • Outlook
  • QA

3
Convention Centers
4
Venue Supply vs. Demand Annual Growth
Source TSW
5
Total Convention Center Space MIL Sq Ft
7.8 million square feet in pipeline
Source Tradeshow Week
6
U.S. Canadian Convention Centers, Exhibit Halls
Source Tradeshow Week
7
Average U.S. Canadian Convention Center
Average Number of Meeting Rooms 2007 27
Source Tradeshow Week
8
Average U.S. Hotel Exhibit Hall
Average Number of Meeting Rooms 2007 40
Source Tradeshow Week
9
Convention Center Size Breakout Square Feet
Source Tradeshow Week
10
New Builds and Expansions August 2006 to July
2007
2.5 million square feet of new exhibit space
Source Tradeshow Week
11
New Venues and Expansions in Development
Source Tradeshow Week
12
Number of U.S. Venues by Location
Source Tradeshow Week
13
Number of U.S. Venues by City
Source Tradeshow Week
14
New Convention Centers Expansions
  • 22 new venues in-process
  • 40 expansions
  • 16 major renovations in process
  • 7.8 million square feet of exhibit space in
    pipeline up 3 for total projects reported in
    2006.
  • Pipeline meeting space is up 4.7.

Source Tradeshow Week
15
2006 vs. 2007 Exhibit Meeting Space Pipeline
Forecast Increase (Projects 2007 to 2010)
Source Tradeshow Week
16
New Convention Centers in Development
Average Exhibit Space 148,896 square feet
Source Tradeshow Week
17
Timeline for Projected Added Exhibit Space
EXPANSIONS NEW BUILDS
Source Tradeshow Week
18
Marketing
19
How is Convention Center Success Measured?
  • Total number of booked hotel rooms 79
  • Total economic impact 68
  • Hotel community occupancy levels 38
  • Total number of visitors 36
  • Convention center profit/loss 45
  • Visitor-related tax revenues 30
  • Public relations 21
  • Bureau profit/loss 2
  • Hotel community gross sales/profit 7
  • Do not measure 11
  • Other 16

Source Tradeshow Week, ACME
20
Re-Branding?
  • Are you undergoing a re-branding?
  • Yes, we conducted this in 2006 31
  • Yes, this is underway for 2007 18
  • Planned for 2008 13
  • No 38
  • When was previous re-branding?
  • Before 1999 36
  • 2000 to 2001 23
  • 2002 to 2006 41

Source Tradeshow Week, ACME
21
Do You Maintain Incentive Funds?
Source Tradeshow Week, ACME
22
How are Incentive Funds Allocated?
  • To only select event producers with a certain
    combination of a high level of historical
    economic impact and total hotel room nights (65)
  • To all event producers with a certain level of
    historical total hotel room nights (29)
  • To event producers that will sign long term
    agreements to anchor to our city or to add the
    city to a set rotation pattern (23)
  • To event producers that ask for discounts and
    incentives from the bureau or venue (19)
  • To all event producers with a certain level of
    historical economic impact (16)
  • To all event producers with a certain level of
    historical attendance (10)

Source Tradeshow Week, ACME
23
What is the Source of the Incentive Funding
  • CVB budget item (42)
  • Tax revenues (32)
  • A special fund allocated by the hotel and
    hospitality (23)
  • Municipal (or other) governmental general fund
    (13)
  • Convention Center operating income or reserves
    (10)
  • Other (16)

Source Tradeshow Week, ACME
24
Do You Provide Attendance Marketing Support
Source Tradeshow Week, ACME
25
Venue Attendance Marketing Support
  • Public relations support 87
  • Adding event information to the venue web
    site(s) 71
  • Enhanced signage in airport(s), around the city
    before the event 58
  • Liaison with city, state, regional affiliated
    groups or government agencies 52
  • Emails to potential local attendees 45
  • Venue discounts/rebates 42
  • Mailings to potential local attendees 39
  • Hotel discounts/rebates 29
  • Entertainment, sports, cultural event or facility
    discounts 29
  • Assistance securing event speakers, keynoters
    19
  • Advertisements for the event paid for by the CVB
    or venue 16
  • Marketing to international attendees 16
  • Travel and/or lodging incentives, discounts 16
  • Cash payments/rebates/marketing support fees 13

Source Tradeshow Week, ACME
26
New Services Being Offered by Venues
  • Attendance promotion
  • Adding or enhancing business centers
  • Expanding greeter, concierge and VIP desk
    programs
  • Offering a single point of contact for all
    services
  • Expanding special taxi and bus departure areas
  • Valet parking at the venue
  • Video conferencing services
  • Wireless internet
  • Streaming video for attendance building

Source Tradeshow Week, ACME
27
Does the Venue have Green Initiatives?
Source Tradeshow Week, ACME
28
Have Green Initiatives Helped Win Business?
Source Tradeshow Week, ACME
29
Has Lack of Green Initiatives Lost Business?
Source Tradeshow Week, ACME
30
Are You Going for LEED Certification?
Source Tradeshow Week, ACME
31
Biggest Marketing Challenges
  • Besides concerns about being a second or third
    tier city, budgets, exhibition space size and
    quality, and number of hotel rooms, the main
    challenges are
  • Available dates everyone wants the same
    window for dates
  • Breaking through to reach decision makers
  • Building destination awareness or trying to
    change perception
  • Getting meeting planners to visit the market
  • Helping event planners to market the destination
  • Differentiating from competition having a
    unique message
  • Third-parties that are between the client and
    the venue/destination/hotels
  • Venue and CVB relationships

Source Tradeshow Week, ACME
32
Biggest Marketing Opportunities
  • Marketing affordability and safety especially
    in second tier markets
  • Continued economic development
  • New hotel development, new venues and expansions
  • Healthy hotel tax revenues
  • Enhancing customer service
  • Online marketing initiatives
  • Customized, customer-specific marketing
  • Strong face-to-face marketing and meetings
    industry

Source Tradeshow Week, ACME
33
Technology
34
Every show is a tech show. -- IT Director with
one of the largest convention centers in the
U.S.
35
Venue GMs on Technology Attributes that Will
Become More Important Over the Next 10 Years
Source Tradeshow Week Research, HNTB
36
Exhibitors Must Have Booth Features
  • 50 of exhibitors say theyll need upgraded
    telecommunication and internet services at shows
    in the next 2 to 3 years.

Source Tradeshow Week Research
37
Venue Users Want Two Technology Features Today
  • Faster, better, cheaper internet (especially
    wireless)
  • More and better qualified customer service staff
    and technicians

38
Top Show Producers How Important Will Online
Video be Over the Next Two to Three Years?
  • Only 8 of show producers live stream online
    content during their shows today.

Source Tradeshow Week Research
39
Implications for Convention Center Owners,
Administrators and Stakeholders
  • Technology services, like FB, have been an area
    where venues can hold rates.
  • Service levels and staffing will likely be more
    important than major technology upgrades in the
    near term.
  • A venue technology arms race in the mid- to
    long-term is likely as online content explodes.

40
Technology Will Help Convention Centers Migrate
from
Facilities to Facilitators
41
Exhibitors
42
Exhibitors on Improving Convention Centers
Exhibitor Survey Question In your opinion, how
can convention centers and exhibition halls be
improved from a design and functionality
standpoint?
  • FB
  • More dining options within the halls.
  • More food courts and seating areas within
    exhibition area.
  • Better restaurants so that we do not have to
    leave the center to entertain a customer.
  • More seating areas and more places to get
    something to eat or drink. What good is finding
    food and drink if there's no place to sit down
    and enjoy it?

43
Exhibitors on Improving Convention Centers
Exhibitor Survey Question In your opinion, how
can convention centers and exhibition halls be
improved from a design and functionality
standpoint?
  • Services Technology
  • Have more than one service desk located in each
    hall.
  • Easier installs for electrical, internet and
    satellite/cable feeds.
  • More wireless internet, better cell phone
    access, ease of getting around in large halls,
    less prohibitive internet fees.
  • Specifically, I'd like to see Wifi available
    very inexpensively or for free in common areas.
    more access/entrance points.

44
Exhibitors on Improving Convention Centers
Exhibitor Survey Question In your opinion, how
can convention centers and exhibition halls be
improved from a design and functionality
standpoint?
  • Overall Design and Layout, Other
  • Have more than one service desk located in each
    hall.
  • Better load in/load out docks, better storage
    areas.
  • Trucking and shipping continue to be the
    biggest headaches.
  • Get away from conventional layouts and do other
    things, all toward making attendance/participation
    a real experience.
  • Always improving directional signage, better
    cell reception, variety of food and beverage
    venues, additional networking areas.
  • Higher ceilings, larger freight doors.

45
Shifted Event Funds
  • In 2006, 30 of exhibitors had some of their
    event marketing funds shifted to web sites and
    email marketing.
  • This percentage has held steady since 2003.

Source Tradeshow Week
46
Exhibitors on Todays Attendees
Source Tradeshow Week Research
47
Challenges Facing Exhibitors
Source Tradeshow Week Research
48
Is there more pressure from corporate to prove
ROI?
Source Tradeshow Week Research
49
How Many Exhibitors Track ROI?
Source Tradeshow Week Research
50
Must Have Booth Features
  • 50 of exhibitors say theyll need upgraded
    telecommunication and internet services at shows
    in the next 2 to 3 years.

Source Tradeshow Week Research
51
Exhibitors Other Events
Source Tradeshow Week Research
52
Las Vegas
53
Why Las Vegas is so Strong
  • Hotel rooms 6 million square feet of exhibition
    space
  • Hospitality and tradeshow culture
  • Food, shopping
  • Marketing
  • Access to California, Southwest and Asian markets
  • Air lift
  • Attendance growth and exhibitor positives
  • Reinvention

54
TSW200 Leading Host Cities 2006 vs. 1996
1996 Las Vegas 36 Chicago 25 New York
21 Atlanta 14 Dallas 13 Anaheim
11 Orlando 10 New Orleans 8 San
Francisco 8 Houston 6 Los Angeles 6
2006 Las Vegas 45 Orlando 20 Chicago
18 New York 16 Atlanta 14 Dallas 8
San Francisco 7 Anaheim 6 Los
Angeles 6 Rosemont 6 San Diego 6
Source Tradeshow Week 200
55
Top Convention Exhibition Host Cities 2008
  • Las Vegas 248
  • Toronto 131
  • New York 121
  • Chicago 117
  • Orlando 108

Source Tradeshow Week
56
MGM CityCenter
  • The most expensive privately funded construction
    project in U.S. History. Phase one is scheduled
    to open in November, 2009.
  • 7.4 billion
  • 68 acre project
  • CityCenter will have a 1/4 mile Strip frontage

Source Vegastodayandtomorrow
57
MGM CityCenter
  • 4,000-room 60-story CityCenter Resort-Casino
  • 165,000-square-foot casino
  • 400-room Mandarin Oriental Hotel/Residences
  • 400-room The Harmon Hotel/Residences
  • 1500-unit Vdara Condo/Hotel tower
  • Twin, 350-unit luxury condo towers Veer
  • 500,000 square feet of retail and entertainment
    space
  • 225,000 square feet of convention and meeting
    space
  • 900,000 square feet for back-of-house operations
  • 2,000-seat theater
  • 70,000-square-foot spa
  • 7,500-car parking garage
  • Fire station
  • People movers (trams)
  • On-site power plant

Source Vegastodayandtomorrow
58
Echelon Las Vegas
  • 4.8 billion project 87 acres, once home to The
    Stardust

4,713 rooms divided into five towers
  • 2,300 room Echelon Hotel
  • 650 room Suites at Echelon
  • 353 room Shangri-La Las Vegas
  • 860 room Mondrian Las Vegas
  • 550 room Delano Las Vegas

All four hotels at a glance
  • 140,000 sq. ft casino (the third largest in Las
    Vegas)
  • 300,000 sq. ft. shopping venue
  • 750,000 sq. ft. convention center
  • 30 restaurants and bars
  • 4,000 seat stadium-style theater (for resident
    production shows)
  • 1,500 seat theater (for touring acts)
  • The project will be completed in the third
    quarter of 2010

Source Vegastodayandtomorrow
59
Airports Convention Centers
60
Convention Center and Airport Trends
61
Outlook
62
TSW200 Growth 2005 and 2006
Source Tradeshow Week 200
63
Recent Growth in Net Square Feet Demand
Source Tradeshow Week Research
64
Exhibitor Attendee Disconnect
Attendance Net Square Feet
Source Tradeshow Week Research
65
Convention Exhibition Attendance Growth 2000 to
2007 (ytd)
Source Tradeshow Week
66
GDP vs. B2B Exhibition Net Square Feet
Source Tradeshow Week, US Commerce Dept.
67
GDP vs. B2B Exhibition Attendance
Source Tradeshow Week, US Commerce Dept.
68
Corporate Profits vs. B2B Exhibition Net Square
Feet
Source Tradeshow Week, US Commerce Dept.
69
Corporate Profits vs. B2B Exhibition Attendance
Source Tradeshow Week, US Commerce Dept.
70
Markets with the Most Hotel Rooms to Open within
Two Years
Source Smith Travel Research
71
Exhibition Net Square Feet vs. SP 500
  • 16 Year Average Annual Growth 2.6
    exhibitions 9.8 SP 500

Source Tradeshow Week, SP
72
Typical Event Industry Growth Cycle
73
QA
74
About Michael Hughes
  • Associate Publisher Director of Research
    Services, Tradeshow Week
  • As head of Tradeshow Weeks Custom Research,
    Michael produces proprietary research, consulting
    and marketing projects for leading exhibition
    industry organizations around the world. He
    works closely with exhibition industry leaders,
    corporate exhibitors, entrepreneurs, investors
    and real estate developers to provide high-value
    strategic information, analysis and
    recommendations. His clients include nearly all
    industry leaders in every segment of the industry
    as well as leaders in the investment and
    consulting community. Michael is frequently
    quoted by major newspapers and national magazines
    such as The Chicago Tribune The Los Angeles
    Times Newsweek The New York Times and The Wall
    Street Journal. In January of 2003, he was
    selected as a Person to Watch by mins btob
    newsletter. Since 1999, Michael has been a
    presenter at over 65 industry conferences. He is
    also the research director and editor of
    Tradeshow Weeks syndicated Executive Outlook
    research surveys.
  • Tel (480) 483-4471
  • Email mhughes_at_reedbusiness.com
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