etc.venues invests £20m following 2019 global expansion
Conference, training and event venue specialist, etc.venues has announced it will be investing £20 million into growing the business globally.
“The year ahead is very exciting. We’re investing a record £20m plus in development, and with more venues and rooms to offer, we’re expecting to host more than one million delegates at 20,000 plus events in 2020,” said Nick Hoare, chief operating officer of etc.venues.
The announcement came after a successful 2019, a year that etc.venues successfully expanded beyond the UK and into the US market. etc.venues invested £15m in two leases in New York, US and another 7,000sqm to its venue portfolio.
“2019 was a remarkably successful year for the company. We increased our revenues by 20 per cent, successfully delivered 19,000 events for an ever-growing list of clients including 84 per cent of the FTSE 100, and hosted 965,000 delegates,” added Hoare.
“We have ambitious plans to open further venues in New York and see the US and UK as our focus for 2020,” Adam Simpson, director of marketing at etc.venues told M&IT.
“Inbound sales from US clients have grown with our expansion into New York and we expect this to continue. We have also seen an increase in the size of events from industry sectors like Fintech and Biotech and expect these to step up again in 2020. Lastly, we anticipate more demand from software-as-a-service companies for their user experience events and showcases,” added Simpson.
etc.venuesalso added 20 per cent more capacity in the UK increasing venue space by nearly 6,000sqm and added 37 new meeting rooms to its portfolio, now totalling 278.
etc.venues also announced it would be investing a further £1m in online meeting technology this year, “we aim to remain ahead of the market by upgrading our portal to accommodate the future needs of our clients,” added Simpson.
To add to an already triumphant year for etc.venues, the company’s managing director, Alastair Stewart won the EY Entrepreneur of the Year Award for the London and South East region.
Published Date: 14/01/2020