Viad Q2 Revenues Surge Nearly 24 Percent to $317 Million
August 1, 2015
The second quarter of 2015 was a good one for Phoenix-based Viad, the parent company of Global Experience Specialists, with revenues surging 23.7 percent to $317 million, compared with $256.4 million during the same time period the year before.
GES had a particularly strong quarter, with revenues increasing to $286.6 million, a 26.5 percent increase, compared with $226.6 million during the same time period the year before.
“GES delivered much stronger results in the second quarter than we had previously expected,” said Steve Moster, president and CEO.
He added, “The upside came from a number of areas, including same-show revenue growth, a near historic level of revenue from short-term bookings and a significant increase in sales to our corporate clients. The team did a great job driving this additional revenue to the bottom line.”
U.S. organic growth for GES in Q2 was $196.9 million, a 16.6 percent increase, compared with $168.8 million during the same time period the year before. International growth was even higher up to $85.7 million, compared with $63.4 million during the same time period the year before.
Moster said same-show growth of 7 percent in the second quarter was higher than the 5 percent that was expected, adding that it was a “positive sign for the industry.”
He also said that the company did “very well in short-term bookings”, which were contracts that came in since the beginning of the year.
“It really points back to the value proposition we have for our clients,” Moster said.
A big part of that value proposition is being a full-service destination for all of their client’s needs, which the company has striven for with the acquisition of companies such as onPeak, N200 and Blitz Communications. Moster said the acquisitions have “delivered as expected. “
He added the second quarter saw a lot of “great activity with cross-selling.” For example, existing shows, such as HAI HELI-EXPO and SIA Snow Show, to name a few, added additional services GES offered.
As to overall 2015 expectations, consolidated revenue is expected to be comparable to 2014 full-year revenue, despite negative show rotation of approximately $70 million and unfavorable currency translation of approximately $40 million.
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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