AEG Facilities, the world’s leading sports and live entertainment company, provides venue management and other specialized programs in operations, guest services, ticketing, booking, sales and marketing. This management has recently gained attention from its management of the Los Angeles Convention Center, as its 2015–2016 fiscal year yielded exceptional results. LACC reported a successful financial and operational year-to-date with the venue exceeding revenue expectations and nearly tripling the prior year’s profits.
The LACC, renowned internationally as an effective site for conventions, trade shows, and exhibitions, is an integral component to the southern California area. This past fiscal year, the LACC attained LEED EB:OM GOLD recertification. A 72 percent overall waste diversion rate and 13 percent overall water consumption reduction highlight the venue’s commitment to source environmentally responsible products and sustainable purchases. Fiscal year 2015–2016 demonstrated that the LACC reached new heights in its environmental sustainability—the venue became the largest convention center in the United States to obtain LEED EB:OM GOLD recertification. Alexa M. Diaz, a media contact representative from LACC, acknowledges that this accomplishment would not be possible without the contribution of LACC employees. It is an economic juggernaut, generating and sustaining more than 3,900 local jobs.
Besides the venue’s involvement in these areas, LACC retains its partnership with the Los Angeles Tourism and Convention Board.
“Forming a cohesive partnership with both the LATCB and CTD has been an underpinning of AEG’s success at the LA Convention Center and the substantial rise in citywide bookings attests to the fantastic work being done by the organizations involved,” says Jon F. Vein, president, Board of Los Angeles Convention & Tourism Development Commissioners. “Citywide conventions stimulate the local economy and help sustain thousands of jobs through attendee direct and indirect spending.”
The LACC continues its partnership with the LATCB and also completed notable projects that positively impacted the community. FY 2015-2016 results included high-end lobby furniture in public spaces, carpet replacement in public areas, repairs to chillers and cooling towers, and improvements to security and access control.
The venue has reported exceptional earnings.—It nearly tripled last year’s profits of $2.8 million to a new record profit of $8.1 million. AEG Facilites later reimbursed the city of Los Angeles from its significant yearly profit, again, showing the benefits from the interconnectivity of AEG Facilities, the LACC, and its community.
“We are impressed with AEG’s LACC team and their ability to consistently deliver exceptional financial results, which in turn save millions of dollars for the City’s General Fund annually,” says Bud Ovrom, executive director, Los Angeles Department of Convention & Tourism Development. “A strategic business vision, efficient business practices, and entrepreneurial spirit have led the LACC to unprecedented financial achievements; we look forward to our continued partnership and to a bright future ahead.”