Global Experience Specialists’ Parent Company Sees 2Q Revenue Uptick
August 7, 2016
Global Experience Specialists’ parent company Viad continued to perform better than expectations, with its second-quarter earnings results showing a $7.7 million revenue increase to $324.7 million, compared with the same quarter last year.
Management previously had guided for a revenue decline of $4 million to $17 million, primarily due to show rotation and exchange rate variances.
GES’ 2Q revenues were down slightly to $285.4 million, compared with $286.6 million during the same quarter the year before.
“GES exceeded guidance for the second quarter with stronger than expected growth from short-term event bookings and corporate clients,” said Steve Moster, Viad’s president and CEO and president of GES.
He added, “On a year-over-year basis, we continued to drive new wins in under-penetrated live event segments and in our new service offerings, as well as on a same-show basis, which helped to offset negative show rotation and unfavorable exchange rate variances. This speaks to the strength of our team, our comprehensive offerings and our strategy to position GES as the preferred global, full-service provider for live events.”
Base same-shows represented 37.1 percent of GES’ U.S. organic revenue during the 2016 second quarter.
“The increase in same-show growth is a mix of exhibitors purchasing more floor space and investing more in that space,” Moster said.
Also driving growth are short-term bookings.
“We’re having good success with short-term bookings,” Moster said. “These are primarily events for associations and corporations that have shorter sales lead times and are generally booked within the current calendar year - and sometimes even within the same quarter they are produced.”
In the third quarter, GES is producing a number of large non-annual shows that will continue to drive strong revenues, including the International Woodworking Fair, IMTS, MINExpo and the Farnborough Air Show in the U.K.
“With favorable show rotation in the third quarter and a healthy sales pipeline, we remain confident in our ability to deliver our full year targets at GES,” Moster said.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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