QEII Conference Centre projects buoyant financial figures

London's QEII Conference Centre is set to report a revenue drop of just 4% for 2009 compared with a projected fall of 10%, giving it £11m turnover compared to £11.5m in 2008.

QEII Conference Centre projects buoyant financial figures
QEII Conference Centre projects buoyant financial figures

The centre's financial results for first six months of 2009 have revealed profits of £522,000, more than double the £250,000 the venue had forecast a year ago.

Occupancy for the same period was at 60%, while revenues fell by 2% compared with the first six months of 2008.

"For the full year, we think we'll be around 4% behind revenue figures for 2008, although we were expecting a 10% decrease," said the QEIICC chief executive Ernest Vincent. "A year ago, we were quite concerned about what lay ahead of us and the impact both the banking crisis and the recession could have on the meetings industry.  We've lost some occupancy but nothing like the figure anticipated."

 

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
In pictures: Events industry joins nationwide NHS tribute

In pictures: Events industry joins nationwide NHS tribute

As the UK came together to thank frontline healthcare workers, venues did their bit to mark the occasion.

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Relief for freelancers welcomed by HBAA chair amid concerns many will have to take out loans before a payout in June.

How many MICE businesses have a complete travel ban in place?

How many MICE businesses have a complete travel ban in place?

Nearly 2,000 MICE professionals reveal whether their company has banned business travel in part three of C&IT's Impact of Coronavirus Report.

LIVE UPDATES: Which international events are being cancelled

LIVE UPDATES: Which international events are being cancelled

All the latest postponements and cancellations as the world deals with the spread of coronavirus.

Events industry applauds ExCeL's hospital transformation

Events industry applauds ExCeL's hospital transformation

The conference venue is expected to be ready for action as a huge coronavirus hospital by next week.

‘Kill the agenda, it gets in the way of creativity’

‘Kill the agenda, it gets in the way of creativity’

A detailed event schedule doesn’t leave much room for flexibility or self-expression, says INVNT’s Adam Harriden.

How coronavirus is changing event contracts and insurance forever

How coronavirus is changing event contracts and insurance forever

A need for more detailed contracts has been highlighted in C&IT’s Impact of Coronavirus Report, which surveyed 2,000 event professionals.

Aeorema Communications acquires Eventful

Aeorema Communications acquires Eventful

The deal marks Aeorema's 'conviction in the future and recovery of the events and MICE industry'.

Largest stimulus bill in US history agreed

Largest stimulus bill in US history agreed

A nearly $2-trillion package will boost the US economy amid the COVID-19 outbreak after both sides of the senate reached an agreement.

Industry support line launched by Stress Matters

Industry support line launched by Stress Matters

Help by phone and Whatsapp is available to event professionals who would like to talk to a trained mental health first aider.