March 28, 2024 10:58 PM
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Global Spectrum exceeds budget for seventh consecutive year

Global SpectrumGlobal Spectrum, managers of the St. Charles Convention Center in St. Charles, Mo., has exceeded its 2011 budget by $318,181. This is the seventh consecutive year since opening in 2005 that Global Spectrum has surpassed budget expectations at the facility. This is the second time that the facility has operated in the black, operating at an all-time high net profit of $173,858.

Global Spectrum hosted 311 events at the facility in 2011, attracted more than 271,000 people, and generated a record high $5.6 million in gross revenue. Overall events, attendance, and gross revenue totals were up from 2010. The feasibility study conducted in 2004 expected 216 events, 217,000 in attendance, and a little more than $2 million in revenue.

Additionally, Global Spectrum was able to secure 19,527 room nights in 2011 in local hotels as a result of business at the facility. This resulted in a total estimated economic impact of approximately $7.1 million. Large conventions in 2011 that contributed to this include: Pioneer Network, Veterans Canteen Service, Solution Tree, The World Taxidermy Championships, and Midwest Grape and Wine Conference.

“Thanks to the efforts of Global Spectrum and the cooperation of the City of St. Charles and St. Charles County Convention and Sports Facilities Authority, we are pleased to announce this record performance of the convention center,” said Tom Wapelhorst, chairman, Convention Center Oversight Committee.

A number of facility records were also broken in 2011, including the record for the highest grossing revenue month, which was broken twice, once in February and then again in November.

“Last year was an unprecedented year for us,” said  Shura Garnett, general manager, Global Spectrum. “I am extremely excited to have been able to surpass our budget expectations for another consecutive year, and more importantly, to have been able to operate the facility at a net profit, despite a fairly challenging economic climate.

“We attribute our continued success to our experienced, dedicated, and hardworking staff that is committed to exceptional customer service, our loyal customers who host and attend great events at our facility, and our great partnership with the St. Charles Convention and Sports Facilities Authority and the Convention and Visitors Bureau.”

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