Are Convention Centers Worth the Investment?

Are Convention Centers Worth the Investment?

By Monica Compton, November 8, 2016

LOS ANGELES CONVENTION CENTER

Venue Stats 300 events in 2015, attracting 2.4 million visitors

Economic Impact $486 million

Screen Shot 2016-03-22 at 5.09.05 PMWhat the City Says “Generating $9 million in occupancy tax per year, we’re in fourth place behind San Diego, Anaheim and San Francisco,” says Brad Gessner, senior vice president of AEG Facilities and general manager of Los Angeles Convention Center. “Anaheim has 11,000 hotel [rooms] within walking distance of their convention center. San Diego has 9,000 and [Los Angeles] has 3,500 rooms.”

Renovation Start Date Late 2017

Expected Completion December 2020

Expansion Details A new 97,000-sq.-ft. ballroom; 59,000 square feet of additional meeting rooms; 145,000 square feet of new exhibit space

Added Amenities A 75,000-sq.-ft. outdoor ballroom; a 1,000-room hotel connected to the West Hall; 755 rooms added to nearby JW Marriott Los Angeles L.A. Live for a total of 1,633 rooms; a new 900-room InterContinental hotel opening in 2017

Controversy The convention center’s new square footage isn’t being put on an empty lot—it’s going vertical atop existing postwar buildings—“some more tired-looking than others,” describes the Los Angeles Times. Instead of a high-designed, statement structure, the building will be pieced together.

Bankrolled By Bonds issued to pay for this project could be paid for by taxes already being charged to hotel guests.

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