The Valencia Conference Centre obtained profits of 679,299 euros in 2016
During the board meeting held today, the Valencia Conference Centre’s Board of Directors approved the venue's annual accounts for 2016. According to the figures presented in its management report, the Conference Centre's EBITDA was €985,335 and its net profit was €679,298.63. The year also brought with it a 10% reduction in overheads, which went down by €250,000.
Forecasts for 2017 are positive. From January to March, the number of events rose by 36% and the number of visitors went up by 73%, compared to figures for the same period in the previous year. These figures are likely to improve on the back of Valencia City Council’s €1.1 million investment in the venue in 2016. This cash injection centred mainly on increasing sustainability and efficiency, and generating cost savings as a way to improve the conferences and congresses held in the Centre and to increase customer satisfaction, through efficient management.
This project is set to continue with advances in 2017 centring on technological innovation to further improve results. Thanks to a new investment package of €450,000, the Conference Centre will be replacing the building’s audiovisual equipment with highly innovative, avant-garde technology, featuring all the latest functions and advances. The building's versatile design will be enhanced by state-of-the-art equipment including laser and DLP projectors up to 30,000 lumens, wireless connectivity (Wi-Fi) for over 3,000 people, a cat 6 (1Gb) fibre optic cable network for all the facility’s rooms, LED stage lighting and a latest-generation digital conference and simultaneous translation system, among other features.
Thanks to the implementation of these initiatives, the Centre can become more competitive and accordingly, attract more business, thus contributing to an increase in event tourism in the city. Conference delegates spend around three times more than conventional tourists thus boosting the local economy thanks to the direct and indirect impact generated by congress and conference activities carried out at the Valencia Conference Centre