AEG Management Leads LA Convention Center to Millions in Reserves

  • AEG Management Leads LA Convention Center to Millions in Reserves

     
    POSTED January 22, 2017
     

Celebrating three years with the Los Angeles Convention Center on Dec. 20, AEG Management is celebrating another achievement of leading the convention center to $6.1 million in reserves and annual operating surplus. This ended in a record-breaking financial result for the LACC along with many other improvements since the partnership began in 2013.

Since the management change, the LACC increased operating profits each year and surpassing its initial goal of $2.1 million in the first five years in only three years with $6.1 million instead.

 “The financial accomplishments of the Los Angeles Convention Center in these past three years are testament to an effective and efficient public/private partnership,” says Bud Ovrom, Executive Director of the Los Angeles Department of Convention & Tourism Development.  “Revenues are up, expenditures are down and we have turned a profit every year. This is a partnership that is flourishing and we have the stats to prove it.”

On another note, the center’s sales and marketing pitch is changing. They launched their brand through a new website, which has helped increase event bookings. The LACC has been gaining more attention with bigger events, which is making a big impact on the City of Los Angeles itself.

“The relationships between Los Angeles Department of Convention & Tourism Development, AEG Facilities and the Los Angeles Tourism and Convention Board have never been better,” says Jon F. Vein, President, Board of Los Angeles Convention & Tourism Development Commissioners.  “We have worked collaboratively in marketing and sales and after three years have seen our efforts result in increases in Citywide Convention bookings that drive material revenue/economic impact to the City of Los Angeles.”

This September, Los Angeles Airport Marriott is beginning the final stage of their $50-million renovations.  

The redesign includes more than 50,000 square feet of meeting space alongside a maximum capacity of 2,500 people. The hotel will be set to host parties of any nature, including Corporate events, conventions, company retreats, holiday parties, banquets, exhibitions, workshops, and everything in between.  

 

Sportsmen's Lodge recently revealed its newly renovated pool. Known as the largest pool in San Fernando Valley, the Sportsmen's Lodge pool is an attraction to guests and locals alike.

"We are always looking for ways to improve the guest and visitor experience, and since the pool is our most popular amenity, we like to keep it fresh and update it every couple of years," says General Manager Stephen Chavez.

 

Navy Proof Food and Spirits, which was part of a $23-million renovation, was recently unveiled at the 469-room Westin Long Beach. Along with the luxurious dining option, modernized guestrooms and a lobby refresh now grace the Southern California hotspot, along with Bluestone Lane, an Australian-inspired café featuring premium coffee beverages.