ilmscore | How Much $$ Do Conventions REALLY Make?

How Much $$ Do Conventions REALLY Make?

Published: 2022-10-08
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
Pre-COVID, an event space like the Orlando World Conference Center with a guarantee of $50,000 in food and beverage and 2,000 hotel nights could be secured for that minimum. Post-COVID, this guarantee doubles to $110,000-$120,000 in food and beverage and 2,500-3,000 hotel nights.
"pre-covered depending on availability you could get because this is after or Labor Day so this is like a holiday week okay you could probably get this for what we call 50 000 food beverage so that means you're guaranteeing fifty thousand dollars worth of food beverage with two thousand Hotel nights a year guaranteeing the the hotel okay that you can get anywhere from fifteen hundred to two thousand hotels book because of your people okay double that so literally it's over 110 to 120 000 food and beverage and probably 2500 to 3 000 Hotel nights"
Event Spaces
Pending
Orlando is becoming the most sought-after event space in the US, rivaling Las Vegas, especially after COVID.
"so with kovid Orlando has become so in our country the most sought after event spaces in Las Vegas Yes Orlando now is rivaling Vegas really"
Event Monetization
Pending
The cost of event spaces has increased significantly, with hotels even charging for electricity for projectors in small rooms ($125 per room). Negotiating favorable rates upfront is crucial for profitability in the event industry.
"as you know as an investor that multiplies and adds it oh my God that's incredible are you listening to this Nate here's some value ads because he's looking at the event in space for events your money is made on the negotiating upfront so if you can negotiate great rates great rates then you can secure them"
Event Expenses
Pending
For events with exhibitors, exhibitor revenue should account for two-thirds of the total revenue, assuming strong exhibitors.
"so the numbers on an event if you were to take any event that has exhibitors so forget about the seminars because that's a very different thing okay so we're talking about bench with exhibitors your first leg is your exhibitor Revenue that should be literally two-thirds of your Revenue should come oh wow exhibit hall if you have really strong exhibitors interesting"
Event Revenue Breakdown
Pending
Ticket revenue typically represents the profit for an event, with an ideal profit margin of 33%. If ticket sales are poor, the profit margin can drop to as low as 10%.
"your ticket revenue is your other leg and that's usually your profit okay about a 33 profit margin depend well it depends okay so if you're not selling well in tickets your profit margin goes down and you're lucky if you make ten percent"
Event Profit Margins
Pending