High-profile association events help boost revenue at QEII Centre

London's QEII Centre has credited association events like the Global Law Summit and the International Liver Transplantation Conference with contributing to a 20% increase in revenue and occupancy.

QEII Centre, London
QEII Centre, London

The Centre has recorded its highest occupancy levels since its £12m capital investment refurbishment programme began two years ago, up 20.1%, with total revenue up 20.07% for the 2015/16 financial year.

Room-hire income has also grown by 22.74%, with revenue generated by room hire increasing on last year’s record rates by 5.25% and operational surplus 16% better than budget.

The Government-owned building hosts around 4,500 events a year including exhibitions, awards ceremonies, fashion shows and banqueting events alongside its core conference business. It is fully self-funded and has paid £1.7m in annual dividends to the Exchequer, an increase of 13% on 2014/15.

Mark Taylor, CEO of QEII Centre, said the Centre contributes more than £122m annually to the UK economy and has 'an exciting' five-year business plan which aims to further increase profits and the dividend receipts.

"I am thrilled that we have once again exceeded our targets and continued the upward momentum of occupancy and revenue growth. The investment in refurbishing the building and rebranding has proved well worthwhile, resulting in increased new business for us as well as exceptional levels of client satisfaction and repeat business, with some contracts in place for the next decade," he commented.

More:

QEII Centre to close for further renovations

Sustainable Events Summit kicks off at QEII Centre

QEII launches family of sub-brands

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