 has rounded out its fifth consecutive record high financial year, placing the venue in prime position.){kind=link}
Melbourne Convention and Exhibition Centre (MCEC) has rounded out its fifth consecutive record high financial year, placing the venue in prime position for the opening of its new expansion space in mid-2018. Total operating revenue of $80.1 million and almost $1 billion in economic impact was recorded, affirming Australia’s top business events destination is stronger than ever.
These results are attributed to the 1,026 events staged at MCEC in 2016/17, including 75 national and international conventions and 77 exhibitions that drew more than 867,705 registered business event delegates to the venue.
Concert and entertainment events saw the greatest growth, increasing by more than 50 per cent on financial year 2015/16 due to a popularity rise in MCEC’s Plenary as its own stand-alone concert venue.
Despite increased competition both nationally and internationally, and an operating construction site, the venue has maintained a full events calendar and business as usual approach to achieve a high customer satisfaction rating of 85 per cent and a $3.1 million increase in revenue.
MCEC’s Chief Executive, Peter King
MCEC’s Chief Executive, Peter King attributed the professionalism, maturity and capability within MCEC for achieving this impressive financial growth.
“Our focus has been on our customers and ensuring we can continue to deliver, innovate and adapt to meet their current needs, whilst having the foresight to help them plan for their future events too. Credit is due to our hard-working and dedicated MCEC team, who have welcomed numerous changes as we adapt our business for the future, all while maintaining our award-winning event delivery and service,” Mr King said.
“Our business is going through an exciting period of growth. Our infrastructure is expanding, our employee numbers are increasing, and our customer list is growing. But it’s what’s to come that is even more exciting, especially considering the impact it will have on Victoria’s wider economy. The next 12 months will be spent ensuring we are ready for the opening of our expanded space, in which we are anticipating a 10 per cent increase in our workforce to deliver a 19 per cent increase in event numbers,” Mr King added.
“MCEC has become a real community asset, thanks to our involvement in major public events such as the Good Friday Appeal. Melburnians deserve just as much acknowledgement as international delegates for our venue’s success.”
“It’s certainly a great feeling to be in the best possible position we can be, with an even brighter future ahead,” Mr King concluded.
Despite increased competition both nationally and internationally, and an operating construction site, the venue has maintained a full events calendar and business as usual approach to achieve a high customer satisfaction rating of 85 per cent and a $3.1 million increase in revenue.
MCEC’s expansion project is expected to deliver close to a 70 per cent increase in revenue by 2022, with over 35 events already scheduled to fill the new multi-purpose event space from mid-2018.
With increased employee and event numbers, MCEC will continue its significant investment in employee training, safety and security, as well as $8 million in capital works upgrades on the current venue to align it with the new space.