Venue management company SMG has been awarded a three-year extension of its management agreement with the Cobo Center in Detroit, originally signed in 2010, the Detroit Regional Convention Facility Authority (DRCFA) reported last week.
“SMG sincerely appreciates this vote of confidence from the Detroit Regional Convention Facility Authority,” SMG President and CEO Wes Wesley said in a statement. “We are proud to be a part of the team they put together to reorganize and renovate Cobo Center.”
The extension, DRCFA says, is in recognition of SMG’s “excellent performance.” Achievements during its first three years managing the convention center include a 52.7 percent increase in operating revenue, an 11.9 percent decrease in operating expenses, improved building maintenance and efficiency and a “substantial turnaround” in the perception of Cobo Center in the meetings industry, not to mention the retention of existing business, the recapture of lost business and the development of new business.
“The Cobo team has accomplished a good deal in a short period of time,” said Thom Connors, regional vice president and general manager of SMG/Cobo Center. “Now we are seeing an increase in convention bookings in response to the amazing improvements that have been made with the facility as well as in the way business is conducted at Cobo.”
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