SPECTRA EXCEEDS $1.9M PROFIT TO POLK COUNTY FOR SECOND CONSECUTIVE YEAR AT IOWA EVENTS CENTER
Tuesday | Aug. 23, 2016
(Des Moines, IA) Spectra by Comcast Spectacor, which provides Venue Management, Food Services & Hospitality, and Ticketing & Fan Engagement to the Iowa Events Center, today presented a check for $1,938,663 to the Polk County Board of Supervisors, representing profits generated from operating the Iowa Events Center during fiscal year 2015-16.
The $1.938 Million profit is the second consecutive year exceeding $1.9 Million and is the 10th consecutive year Spectra exceeded budget. The Iowa Events Center is comprised of Wells Fargo Arena, Hy-Vee Hall, and the Community Choice Credit Union Convention Center at Veterans Memorial and is owned by Polk County.
“Spectra’s single company, bundled approach continues to provide tremendous financial returns for Polk County,” stated Supervisor Tom Hockensmith, Polk County Board of Supervisors Chair. “It is important for venues like the Iowa Events Center to have a cohesive team with the same goals operating the facility to ensure we maximize the customer experience and can efficiently execute large events like the NCAA Basketball tournament and the Google GOP Debate seamlessly with our best interests in mind.”
“Polk County strongly understands that having Spectra’s Venue Management, Food Services & Hospitality, and Ticketing & Fan Engagement teams together at the Iowa Events Center has accomplished that for us,” Hockensmith continued.
From July 1, 2015, to June 30, 2016, Spectra booked 547 events at the Iowa Events Center attracting 1,277,649 customers. Of the 547 events, 402 of them were in the two convention centers. The convention center events surpassed budgeted gross revenues by $3.2 Million, which is $100,000 higher than last fiscal year, and the highest gross revenues for the convention centers to date. For the second consecutive year the convention center operations finished with no government subsidy.
Among the new events at Iowa Events Center this year, the National Square Dancers Convention brought 4,000 attendees from across the United States in June, the Fox News – Google GOP Debate was the first nationally televised event hosted in the ballroom of the Community Choice Credit Union Convention Center, and the Des Moines Register hosted the All-Iowa Sports Awards on June 18 with guest speaker Peyton Manning.
During 2015-16, Spectra booked top-notch entertainment at Wells Fargo Arena, including several sell outs from Shania Twain, Taylor Swift, the Hy-Vee Big Four Classic, Justin Bieber, and Jason Aldean. Additionally, the Garth Brooks World Tour played to six sold out crowds between April 29 and May 3. Wells Fargo Arena also hosted the 2016 NCAA Division I Men’s Basketball First/Second Rounds March 17 & 19.
“At Spectra, we remain focused on achieving new levels of operational excellence," said Spectra's Chris Connolly, General Manager of the Iowa Events Center. "As a company, we empower our employees to drive profitable growth for our clients. Here in Des Moines, with all three of our divisions working together as one, we remain fiscally savvy by spending smart, growing value, and minimizing waste. Our employees pinpoint opportunities where we can create great efficiencies that positively impact our bottom line.”
“We’re proud of the work we do here in Des Moines,” added Connolly. “At Spectra we transform events into experiences. These experiences create excitement, turn heads, and make memories. We would like to thank the thousands of residents of the Des Moines region who support the Iowa Events Center and attend our events. In conjunction with the Convention and Visitors Bureau, and with the support of the Polk County Supervisors, we continue to focus on drawing additional events to the Iowa Events Center which will boost the economic impact of our region.”
The next 12 months promise to be exciting at Wells Fargo Arena, as Spectra welcomes Florida Georgia Line on September 15; Drake on October 4; Carrie Underwood on October 7; Disney on Ice presents Passports to Adventure November 23-27; Eric Church on January 19, as well as welcoming back the Iowa Wild, Iowa Energy and the Iowa Barnstormers for another season of action. The convention center facilities also continue to host great events, like the Iowa Power Farming Show, the Des Moines Home and Garden Show, AQS QuiltWeek, Iowa Deer Classic and more conventions, meetings, weddings and special events.
Spectra by Comcast Spectacor manages the Iowa Events Center and is the expert in hosting and entertainment, partnering with over 300 clients at 400 global properties to create memorable experiences for millions of visitors every year. Spectra's expertise is embodied within three main divisions: Venue Management, Food Services & Hospitality, and Ticketing & Fan Engagement. Learn more at SpectraExperiences.com.
Comcast Spectacor is part of Comcast Corporation, a Fortune 50 media and technology company that operates Comcast Cable and NBCUniversal. Headquartered in Philadelphia, Pa., Comcast Spectacor also owns and operates the National Hockey League's Philadelphia Flyers and the Wells Fargo Center venue. Visit us at ComcastSpectacor.com, PhiladelphiaFlyers.com and WellsFargoCenterPhilly.com for more information.