Miami Beach Mayor Matti Herrera Bower and the Miami Beach Commissioners voted unanimously to renew the contract of Global Spectrum as managers of the Miami Beach Convention Center (MBCC) and Colony Theatre.
The three-year agreement extends the current contract through Sept. 30, 2016, followed by two one-year options that could keep Global Spectrum in place through Sept. 20, 2018.
“The City of Miami Beach is pleased to continue our relationship with Global Spectrum to manage and market our convention center and Colony Theatre,” said Mayor Herrera Bower. “Our agreement not only builds on our past successes together but looks forward to continued prosperity as we transition our facility from local tradeshows to international management, business and professional conferences.”
Global Spectrum took over management of MBCC in October 2008 and has produced strong financial results each year by reducing operational expenses, increasing revenues and creating a bottom line that exceeded budget. The success culminated with exceptional numbers during the 2012 fiscal year. Global Spectrum generated a profit for only the second time in the venue’s more than 50-year history, creating a positive net income of $21,833, an improvement of $1,012,490 over what was budgeted.
“On behalf of our entire company, I would like to thank the City of Miami Beach, in particular City Manager Jimmy Morales, Mayor Bower and Max Sklar,” said John Page, chief operating officer, Global Spectrum. “Global Spectrum continues to be personally committed to the Miami Beach Convention Center and the City of Miami Beach. We look forward to further enhancing the customer experience and luring new and exciting events to the region.”
The MBCC and Colony Theatre are city-owned venues that Global Spectrum privately manages, providing functions including Management, Sales and Marketing, Event Management, Operations, Finance and Guest Services. Global Spectrum also manages more than 100 other public assembly facilities around the world.