Conference centers are growing in revenues and profits, according to a study by PKF Consulting.
It’s a trend attributed to a healthy economy combined with disciplined management.
“One element of the industry’s success in recent years has been the increase in institutional ownership of conference center facilities,” said Dave Arnold, CEO—East of PKF Consulting, which did the study in conjunction with the International Association of Conference Centers.
The study found profits grew overall almost 40%.
The greatest gainers in profitability were resort and corporate conference centers, which saw profits grow 108%.
The “2006 Trends in the Conference Center Industry” report provides a statistical and financial profile of the conference center industry.
Report by David Wilkening
