SECTORS

CONVENTION/TRADESHOW VENUES

The development and operation of multi-million dollar event venues such as convention and exhibition centres, can drive significant economic benefits to the host community, support employment and act as a catalyst for further development. While the private sector's role in developing, financing and operating high-profile sports venues, as well as consumer-dominated exhibition facilities is on the rise, the public sector still dominates ownership and operation of convention centres in Canada.

But how is success determined in the venue business? It depends on your perspective:

  • > For the private sector, return on investment in bricks and mortar, as well as from "content" is the primary success measure.
  • > For the public sector, economic impacts at the community level generated by large-scale events that derive significant visitation from "out-of-towners" is key.

In any event, successful projects are based on proper articulation of the soundness of the concept, development of innovative approaches to financing, and the efficient conduct of day-to-day operations. Once developed, getting the most from the ever-competitive market and managing long-term operational costs effectively is critical to maintaining significant utilization rates and return on investment.