Conference & Meetings World Issue 101 — July / August | Page 8

News FOR ALL THE LATEST BREAKING NEWS & DAILY UPDATES, VISIT: EMAIL THE CMW EDITORIAL TEAM WITH ALL YOUR INDUSTRY NEWS: and expectations in advance. “This report has formally documented a concept we have been promoting for some time, namely that these events are all about economic, academic, professional and community enhancement outcomes and that a strategic approach to hosting such events can pay a broad and important role in advancing the development prospects of destinations around the world,” said JMIC President Kai Hattendorf (pictured below). “As a result, these destinations and the governments that represent them need to re-think their engagement with the industry and how they can best use and invest in it to the overall benefit of their respective communities.” Drawing on nine case studies from four continents, study authors and UTS Associate Professors Carmel Foley and Deborah Edwards concluded: “Business events have long been judged under the narrow assumption that their legacies are best measured in terms of hotel rooms and cups of coffee. Governments, in particular, have largely focused on what is commonly known as the tourism contribution, which ignores the significant scientific and research value on offer – value that directly drives economic development, creativity and innovation. Our research also shows that these benefits have a multiplying effect.” The report continued: “But until now there hasn’t been a coordinated, global effort to measure and document these benefits in ways that could be used to advocate to governments and communities about the important role played by business events. Ultimately, these findings confirm that the governments need to rethink the way they measure and value the business events sector”. The report also identified barriers to achieving lasting legacies, such as organisers neglecting to set long-term objectives or look beyond internal organisational goals. www.c-mw.net Caesars Forum tops out in Vegas ‘Significant mismatch’ in how governments measure business events’ true value Caesars Entertainment Corporation has topped out its new 51,000sqm conference facility, Caesars Forum. 450 construction workers, meetings customers and Caesars Entertainment executives came together for the placing of the final steel beam atop the structure. The US$375m conference centre will carry a LEED silver-rating and features the world’s two largest pillarless ballrooms. The official opening date is end of March 2020. Caesars Forum will be the first facility of this size built on one level and the new facility is within walking distance of 20,000 hotel rooms citywide. At the end of June Caesars Entertainment was acquired by Eldorado in a cash-and-stock transaction valued at $8.58 bn, creating a mega-casino company in the US. There is a “significant mismatch” in how governments measure the true value of business events, according to a new report from the Joint Meetings Industry Council (JMIC). The organisation’s multi-year study of the legacy benefits of business events in a number of parts of the world concluded with a series of recommendations for how events can better document their resulting benefits. The report, commissioned by JMIC and carried out by University of Technology Sydney (UTS) researchers and entitled Business Events Legacies: JMIC Case Study Project Report, recommends ‘Six Golden Rules for a Highly Successful Business Event’ and offers guidance for event organisers to optimise and document their legacy objectives GL events gains €70m worth of contracts in Europe, South America and Asia GL events has raised its target for annual growth following the announcement of five new contracts in Europe, South America and Asia, representing €70m in sales. Following its support of COP22 2016, Marrakech, GL events clinched the contract to 8 / CONFERENCE & MEETINGS WORLD / ISSUE 101 provide a complete temporary infrastructure solution for the 25th Conference of the Parties (COP25) United Nations Framework Convention on Climate Change in Santiago, Chile. GL events will support the Pan-American Games, taking place in Lima, 6 July – 11 August 2019, providing power equipment and electricity distribution across venues for the event, while in France, it will provide a 17,350sqm temporary exhibition centre for the Strasburg Métropole. [email protected] Two further contract wins will see the group provide large-scale audience seating grandstands. Seating for 1,780 spectators will be installed at Japan’s Kumagaya Stadium in preparation for the World Rugby Cup, taking place in September and October 2019; while a 9,000-capacity grandstand will be installed, along with VIP facilities, at Belgium’s Spa Francorchamps circuit. The GL events Group has raised its growth target for 2019, forecasting growth in annual sales of 9% in relation to 2018.