CONVENTIONS: CTICC Event Destination Of Choice
Recent Western Cape Business News
Despite the current economic climate the Cape Town International Convention Centre (CTICC) has again attracted a record number of events to Cape Town. During the 2008/2009 financial year, the centre hosted a total of 629 events, against 503 during the previous year.
Speaking at the organisation’s annual press conference, Managing Director, Dirk Elzinga said that fact the CTICC can boast an increase of 126 events in these challenging times is further testament to the centre’s role as a key driver of economic growth.
Last year the centre welcomed almost 717 000 delegates – well above targets set across all event categories. Much of the growth in the number of events hosted at the CTICC can be attributed to the special events and banqueting categories. “For the first time, the CTICC has played host to two large religious groups that have held their gatherings at the centre on Sundays” said Elzinga. While quite different from other clients in their food and beverage requirements, the gatherings of Christ Embassy and Hillsong on Sundays have enabled the centre to reverse the low occupancy trend on Sundays.
“With total revenues of R118 million and a contribution to its holding company, Convenco of almost 36 million, the CTICC performed 37% better than budget, an extraordinary performance” according to Elzinga, who referred to numerous convention centres around the world, who were unable to achieve a positive result due to the global economic situation.
Once again, venue rentals and food and beverage services were the most significant contributors to overall revenue flows bringing in 45% and 41% respectively.
In addition to the 401 catered events during the year such as national and international conferences, CTICC hosted 90 independent banquets, which is 34 more than target and 19 more than the previous period. “This is particularly pleasing in the context of the current global recession” said Elzinga.
Also, when compared to the typical average of any international venue, this is an enormous number of independent banquets in a year, and is a direct result of the fact that the CTICC has built an enviable reputation as a superior banqueting venue. This will continue to be a core strategic focus area in the years to come.
During the 2008/09 year, the average occupancy of the CTICC exhibition halls was 49%, which, although lower than the 59% achieved in 2007/08, still compares favourably with international best practice benchmarks. “While we have seen a drop in average delegate numbers and occupied exhibition space, good occupancy levels have been maintained across all venues throughout the year” said Elzinga.
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