MassEcon Members Meeting March 16, 2018 Massachusetts Convention - - PowerPoint PPT Presentation

▶
massecon members meeting
SMART_READER_LITE
LIVE PREVIEW

MassEcon Members Meeting March 16, 2018 Massachusetts Convention - - PowerPoint PPT Presentation

Jul 05, 2023 155 likes •393 views

MassEcon Members Meeting March 16, 2018 Massachusetts Convention Center Authority (MCCA) The MCCA's mission is to generate significant regional economic activity by attracting conventions, tradeshows, and other events to its world-class

slide-1
SLIDE 1

MassEcon Members Meeting

March 16, 2018

slide-2
SLIDE 2

2

Massachusetts Convention Center Authority (MCCA)

The MCCA's mission is to generate significant regional economic activity by attracting conventions, tradeshows, and other events to its world-class facilities while maximizing the investment return for the residents and businesses in the Commonwealth of Massachusetts.

slide-3
SLIDE 3

3

$775 Million Economic Impact

665,965 Room Nights

336 Events

732,587 Attendees $115 Million MCCA Spend MAXIMIZING ECONOMIC IMPACT – FY18

slide-4
SLIDE 4

4

Convention Center Fund (CCF)

  • Credited with pledged receipts authorized in Chpt. 152 of Acts of 1997
  • Hotel occupancy tax
  • Sales/meals tax
  • Sightseeing tours and attractions
  • Rental car surcharge
  • Supports debt service of “special obligation” bonds issued in 2004/2005
  • Principal balance of $575 million as of August 2017, retired fully by June 2034
  • Limited number of other purposes:
  • MCCA “net cost of operations”
  • MCCA capital projects funding
slide-5
SLIDE 5

5

Total Fund Receipts, Projected v Actual 2005-2017

Source: Original, Series 2005, Revenue Refunding Bonds, Commonwealth of Massachusetts. Actual, Massachusetts State Comptroller.

slide-6
SLIDE 6

6

  • 20

40 60 80 100 120

Actual

Room Occupancy Sales/Sightseeing Vehicle Surcharge

  • 20

40 60 80 100 120

Projected

Room Occupancy Sales/Sightseeing Vehicle Surcharge

Projected vs Actual Fund Performance FY 2017 ($s in millions)

*Source: Massachusetts State Comptroller *Source: Series 2005, Revenue Refunding Bonds, Commonwealth of Massachusetts

slide-7
SLIDE 7

7

The Boston Convention & Exhibition Center (BCEC)

 Located in Boston’s Seaport District  Minutes from Logan International Airport  2.1 million square feet of space  516,000 square feet of exhibit space  40,020-square-foot Grand Ballroom  82 meeting rooms (160,000 Sq ft.)

slide-8
SLIDE 8

8

The Lawn On D

 2.7 Acre Outdoor Event Space  420 D Street, South Boston (alongside BCEC)  Programmed: May – October (180 Days)  Over 300,000 annual visitors  Accessible Year Round

2017: Days Open to the Public

(May-October)

144

2017: Public Programing Days

90

2017: Number of Private Events

108

slide-9
SLIDE 9

9

John B. Hynes Convention Center

 Located on Boylston St. in Boston’s historic Back Bay neighborhood  176,480 square feet of exhibit space  38 meeting rooms  24,544 Square foot ballroom  Indoor skybridge connection to several hotels and retail centers

slide-10
SLIDE 10

10

MassMutual Center

 Springfield, Massachusetts  $70 Million invested in 2004  MGM – Spectra Management  100,000 square feet of meeting space  8,000 Seat Arena  Springfield Thunderbirds  AIC Yellow Jackets

slide-11
SLIDE 11

11

Boston Convention Marketing Center

 Sell space at the BCEC, the Hynes, and The Lawn On D  Maximize economic benefits to the City of Boston and the State of Massachusetts  Support MCCA teams in promoting and selling services to clients  Build a “memorable” messaging campaign  Build Boston as a “leading edge” convention destination

slide-12
SLIDE 12

12

Peak Room Nights

3-5,000 2-3,500 <1000

Short-Term

BCEC HYNES BOTH

2016 2018 2020 2022 2024 2028 2030

THE ‘BUYING WINDOW’ FOR CUSTOMERS BOOKING BOSTON

slide-13
SLIDE 13

13

Day 0 7 14 21 28 35 1 Ballroom long- term sell block Occupancy 2nd event/meeting space long-term sell block

Additional multipurpose space unlocks the BCEC’s selling window

slide-14
SLIDE 14

14

  • 1997 Johnson Report:
  • Prioritized exhibit hall space
  • Initial BCEC business profile: 1/3 Trade, 1/3 Association and

1/3 Corporate.

  • 2011 Convention Partnership Report
  • Baker Administration paused $1.1B expansion program in

April 2015  Boston’s Competition (By Exhibit Hall Space)

BCEC: A Short History

 Our Advantage: SMARTER vs. bigger

  • BCEC business now 2/3 association
  • MCCA Customer preferences: Proximate hotels, ballroom,

meeting space, exhibition hall

1.) McCormick Place (Chicago, IL) 2.) Orange County CC (Orlando, FL) 3.) Las Vegas CC, (Las Vegas NV) 4.) Georgia World Congress Center (Atlanta, GA) 5.) Ernest N. Morial CC (New Orleans, LA) 6.) International Exposition Center (Cleveland, OH) 7.) Mandalay Bay (Las Vegas, NV) 8.) Sands Expo & CC (Las Vegas, NV) 9.) George R. Brown CC (Houston, TX) 10.) Donald E. Stephens CC (Rosemont, IL) 11.) Jacob K. Javits CC (New York, NY) 12.) Anaheim CC (Anaheim, CA) 13.) Kay Bailey Hutchison CC (Dallas, TX) 14.) Cobo Center (Detroit, MI) 15.) Los Angeles CC (Los Angeles, CA) 16.) Walter E. Washington CC (Washington, DC) 17.) Pennsylvania CC (Philadelphia, PA) 18.) Phoenix CC (Phoenix, AZ) 19.) San Diego CC(San Diego, CA) 20.) Metro Toronto CC (Toronto, ONT) 21.) Colorado CC (Denver, CO) 22.) Indiana CC (Indianapolis, IN)

23.) BCEC (Boston, MA)

24.) Calvin L. Rampton Salt Place (Salt Lake City, UT) 25.) Henry B. Gonzalez CC (San Antonio, TX) 26.) Moscone Center (San Francisco, CA) 27.) Miami Beach CC (Miami Beach, FL) 28.) Minneapolis CC (Minneapolis, MN) 29.) America’s Center (St. Louis, MO)

slide-15
SLIDE 15

15

 Feasibility and Master Planning RFP

  • Input from state, city customers
  • August 2, 2017: RFP Released, record 200+ downloads
  • September 27, 2107: 7 world-class teams submitted

proposals

  • November 2, 2017: MCCA Design Selection Panel Interviews
  • November 16, 2017: MCCA board approved contract

negotiation

  • January 18, 2018: MCCA board to vote to approve contract
  • March 15, 2018: MCCA BOD voted to approve contract with

Populous Architects  Feasibility and master planning services completion Q1 2019  3 Key Questions:  What do we need?  What can we afford?  How do we pay for it?

  • Ballroom, meeting space, flex space, ex-hall, open space.
  • Over 4M hotel rooms booked thru 2028

BCEC: Future Plans

slide-16
SLIDE 16

16

BCEC: Campus Master Planning

slide-17
SLIDE 17

17

South Boston Waterfront Development 2005 2017

slide-18
SLIDE 18

The Omni Boston Hotel

  • Across Summer St. from BCEC
  • $550 Million No Public Subsidy
  • Q1 2021 Targeted Opening
  • 27,000 sf ballroom
  • 1050 rooms
  • 120,000 sf meeting space
  • Covered access to BCEC
  • Skybridge access to the new

Massport Transportation Center

  • Culinary Training Center
slide-19
SLIDE 19

19

  • Minutes away: Boston’s Logan

airport is the closest to a major convention center than any

  • ther in North America.
  • Boston is the closest major city

to Western Europe.

  • Logan welcomes non-stop

flights from 55 international locations and 75 U.S. cities.

  • Millions of additional potential

attendees are within easy travel distance by train, car and public transportation.

EASY ACCESS

Logan International Airport

BCEC 5 min.

slide-20
SLIDE 20

20

Case Study: BIO 2018

The BIO International Convention

  • Biotechnology Innovation Organization (BIO)
  • 16,000+ Biotechnology and pharma leaders

in attendance (including 2500+ CEOS).

  • 41,000 one-on-one partner meetings
  • 1,800 Exhibitors including 50 state &

international pavilions.

  • 5,000+ Companies represented
  • 500+ Education sessions
slide-21
SLIDE 21

21

Case Study: BIO 2018 – Why Boston?

  • Massachusetts surpassed California as the

#1 biotech hub with over 340 biotech companies and 48,000 employees in Greater Boston.

  • MassBioEd forecasts a 6.7% increase in

BIO-related jobs from 2017 to 2018 in MA.

  • Venture Capital funding for biopharma in

MA is over $3 billion in 2017

  • Boston’s size and compact layout allow for

easy navigation within the city.

  • The BCEC is the most technologically

advanced convention center in the country.

slide-22
SLIDE 22

22