The Detroit Regional Convention Facility Authority has extended its SMG management Agreement of the Cobo Center for another three year-term, which will run from Sept. 30 2013 through Sept. 30 2016. The original agreement was signed in 2010.
“SMG sincerely appreciates this vote of confidences from the Detroit Regional Convention Facility Authority,” says Wes Wesley, president and CEO of SMG. “We are proud to be part of the team they put together to reorganize and renovate Cobo Center.”
Significant achievements have been made to improve the center’s performance due to the first three-year agreement. Some of these include, an operating revenue-excluding the state operating subsidy and parking revenue-that increased 52.7 percent; building maintenance and efficiency have improved; operating expenses have decreased by 11.9 percent; and employee supervision and training has become more developed.
