GES Scores Whopping 52-percent Q3 Revenue Increase
November 5, 2016
The third quarter of this year was a huge one for Global Experience Specialists, scoring $287 million in revenues, compared with $189.9 million during the same quarter the year before, a whopping 52-percent increase.
“GES delivered strong third quarter revenue growth and the team did an excellent job driving the additional revenue to the bottom line,” said Steve Moster, who leads GES and its’ parent company Viad.
He added, “In addition, we completed an important strategic acquisition in mid-August that gives us a more meaningful presence in the large U.S. audio-visual services market. The acquisition of ON Services is well-aligned with our strategy to diversify our mix of event services toward higher-margin adjacencies and to expand our reach further into corporate events as we continue to position GES as the preferred global, full-service provider of live events.”
U.S. organic revenue increased 51.5 percent ($76.4 million), primarily due to positive show rotation of approximately $67 million, new business wins and base same-show revenue growth of 3 percent.
International organic revenue also increased 53.5 percent ($24.0 million) from the prior year quarter, primarily due to positive show rotation of approximately $18 million, new business wins and same-show growth.
One of the biggest shows in the U.S., the quadrennial MINExpo International, which is a GES client, was held in the third quarter in Las Vegas.
The show covered more than 840,000 net square feet, showcasing the latest mining equipment and technology from more than 1,900 exhibitors around the world.
The acquisition of ON Services also contributed revenue of $7.8 million, adjusted segment operating income of $0.5 million and adjusted segment EBITDA of $1.7 million during the 2016 third quarter, in line with prior guidance.
ON Event Services, a leading provider of live event audio visual production services that includes audio, video, lighting, mapping and scenic design, was acquired in August 2016.
GES fourth quarter revenue is expected to be relatively in line with the prior year quarter as continued underlying business growth and the acquisition of ON Services help to offset the expected impact of negative show rotation of about $15 million and unfavorable currency translation of approximately $10 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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