Viad Q3 Revenues Slightly Up; GES Sees Nearly 11-percent Increase in Base Same-show Growth
October 22, 2011
Global Experience Specialist’s parent company, Viad, recently released its third-quarter earnings, and while numbers for the Marketing & Events Group, of which GES is a part of, were down because of negative show rotation, base same-show numbers scored a nearly 11-percent increase, compared with last year’s Q3 numbers.
Viad’s overall revenues saw a 1-percent increase in the third quarter to $216.2 million, compared with the same period last year, as well as $1.2 million in net income. The Travel & Recreation Group also saw growth in the third quarter, with revenues jumping from $12.5 million last year to $64.5 million during the same period this year.
“Viad’s third quarter 2011 earnings reflect strong performance from our Travel & Recreation Group, which realized significant growth during its busiest quarter,” said Paul Dykstra, Viad’s chairman, president and CEO. "This growth was driven by the addition of two properties to our Glacier Park portfolio and organic revenue growth at Brewster.”
He added, “Our Marketing & Events Group realized base same-show revenue growth of nearly 11 percent. As a result of this increase and growth in other lines of business, the Marketing & Events Group substantially offset the impact of expected declines from negative show rotation, as a number of trade shows that took place in the 2010 third quarter are every-other-year shows that will occur again in 2012.”
Total third-quarter revenues for the Marketing & Events Group were $151.7 million, which was impacted by $29 million in negative show rotation. The good news, though, was positive base same-show growth for the fifth quarter in a row, signaling continued optimism in the trade show industry.
“It’s a very good quarter with same-show growth, as well as new wins,” said Steve Moster, president of GES. “I am very excited about where we ended up in the third quarter.”
The growth came from increased square footage, exhibitors buying more services and increased marketing budgets, he added.
Besides the chain of positive quarters in a row, he added, another good indication of a recovery underway in the trade show industry is the fact that this year’s year-to-date Marketing & Events Group revenues also were up.
Some of the many high points in the third quarter for Viad’s Marketing & Events Group included designing and building the World Trade Center sales office in New York, the “Harry Potter” touring exhibition in New York’s Times Square and the Nike facility in Caesars Palace in Las Vegas.
“Despite negative show rotation, we’re very proud of the team at GES team for finding new opportunities,” Moster said.
He added, “The global economy is uncertain, but, despite headwinds, we think there will continue to be same-show increases through the end of 2011."
Partner Voices
Every day, MGM Resorts hosts organizations and individuals from around the world with a diverse array of business purposes, needs and expectations. But they all have one thing in common—a host committed to making their meetings sustainable and unforgettable through close partnership and responsible meeting practices.
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Meetings at MGM Resorts are predominantly powered by the sun, thanks to its innovative 100-megawatt solar array. As the largest directly sourced renewable electricity project in the hospitality industry, the solar array features 323,000 panels and produces up to 100% of MGM Resorts’ daytime power needs in Las Vegas.* Built in 2021, the solar array reduces the carbon footprint of meetings—and all of MGM Resorts—while still delivering an enlightening and electrifying guest experience.
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Knowing water is essential to operations, guests and employees, MGM Resorts has long employed various conservation measures and has doubled down on its commitment in recent years to become a leading corporate water steward. In 2022, MGM Resorts President and CEO Bill Hornbuckle signed the CEO Water Mandate, a United National Global Compact, becoming the first gaming company to endorse the initiative. The company replaced more than 200,000 square feet of real grass with drought-tolerant landscaping in Las Vegas and pledged to reduce water use by 33% by 2025 and by 35% by 2030. Between 2007 and 2022, MGM Resorts saved more than 6 billion gallons of water through water conservation.
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MGM Resorts serves a world of diverse people, perspectives and experiences by cultivating a workforce culture that embraces all of humanity. From mindful recruitment and hiring practices to meaningful social responsibility initiatives, MGM Resorts is a welcoming and inclusive space for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members and more. The company’s commitment to supplier diversity drives innovation by extending competitive opportunities to local and diverse-owned suppliers, while the MGM Resorts Supplier Diversity Mentorship Program provides diverse-owned businesses tools and resources to enhance and grow their businesses.
Paying it Forward
MGM Resorts knows that great companies must serve the greater good. That’s why paying it forward is part of its approach to meetings and events. Through the Feeding Forward Program, MGM Resorts collects and preserves unserved and untouched food from conventions held at its properties, then safely donates to food-insecure people through a partnership with Three Square, Southern Nevada’s primary food bank. Since 2016, MGM Resorts has donated more than 3.7 million meals, with a goal of 5 million meal donations by 2025. Donations include unserved perishable prepared foods from events, perishable unprepared food from MGM Resorts’ kitchens and nonperishable food items from minibars and warehouses.
From world-class venues and experiences to industry leading responsible meeting practices, MGM Resorts is proud to host meaningful and sustainable events.
*Not including The Cosmopolitan of Las Vegas
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