FY16/17 Iowa Events Center Profits
Tuesday, August 29, 2017
SPECTRA EXCEEDS $1.9M PROFIT TO POLK COUNTY FOR THIRD CONSECUTIVE YEAR AT IOWA EVENTS CENTER
(Des Moines, IA) - Today the Polk County Board of Supervisors accepted a check from Spectra by Comcast Spectacor, which provides Venue Management, Partnerships and Food Services & Hospitality to the Iowa Events Center, in the amount of $1,905,902, representing profits generated from operating the Iowa Events Center during fiscal year 2016-17.
The $1.905 Million profit is the third consecutive year exceeding $1.9 Million and is the 11th consecutive year Spectra exceeded budget. The Iowa Events Center is comprised of Wells Fargo Arena, Hy-Vee Hall, and the Community Choice Credit Union Convention Center at Veterans Memorial and is owned by Polk County.
“Spectra has been an outstanding partner since the opening of the Iowa Events Center and continues to exceed our expectations,” stated Supervisor John F. Mauro, Polk County Board of Supervisors Chair. “I am continuously impressed by the quality of acts that Spectra and the Iowa Events Center bring to the region and I am equally impressed by their level of engagement with and support of our community.”
From July 1, 2016, to June 30, 2017, Spectra booked 497 events at the Iowa Events Center attracting 1,220,190 customers. Of the 497 events, 141 of them took place in Wells Fargo Arena and helped set the highest net operating income in the arena’s 12 year history. The arena hosted 23 concerts, including sold out performances by Ed Sheeran, Tom Petty and the Heartbreakers, Neil Diamond, Eric Church, Carrie Underwood, and Florida Georgia Line. The arena also sold out Drake and made national news alongside Drake University for promotional efforts surrounding his appearance in Des Moines.
Event organizers who booked their meetings, conventions and trade shows at the Iowa Events Center once again provided Spectra with high marks through Customer Satisfaction Surveys, averaging a 4.79 out of 5 on categories ranging from accuracy of event room setups to housekeeping, responsiveness of staff, and food and beverage quality. Those factors contributed to the Iowa Events Center receiving the Large Venue of the Year Award during the inaugural Comcast Spectacor Excellence Awards.
“At Spectra, we remain focused on achieving new levels of operational excellence," said Spectra's Chris Connolly, General Manager of the Iowa Events Center. "As a company, we empower our employees to drive profitable growth for our clients and our local staff has done an incredible job working to turn our client’s events into memorable experiences for their guests. We thank Polk County for trusting us to operate the Iowa Events Center facilities and are extremely proud to be able to provide this type of profit to them for a third straight year.”
The next 12 months promise to be exciting at Wells Fargo Arena, as Spectra welcomes back the Iowa Wild and Iowa Barnstormers as well as tipping off with the Iowa Wolves, who begin their first year in the NBA G-League being owned by the Minnesota Wolves of the NBA after operating as the Iowa Energy for their first 10 years. In addition, planning will begin for the 2019 NCAA Division I Men’s Basketball First and Second Rounds.
The convention center facilities also continue to host great events, like the Iowa Power Farming Show, the Des Moines Home and Garden Show, AQS QuiltWeek, Iowa Deer Classic and more conventions, meetings, weddings and special events. Coming in 2018 will be the opening of the new Hilton Des Moines Downtown hotel which will add additional infrastructure that meeting planners are looking for.
Angela Connolly, Polk County Board of Supervisors Vice Chair said “We are excited for all of the terrific events we will be hosting next year but we are especially excited to see the Hilton Des Moines Downtown open next spring. It will be another great addition to the many facilities and hotels that Greater Des Moines offers, plus it gives us the much-needed advantage of having a connected hotel to the Iowa Events Center.”
Spectra by Comcast Spectacor is an industry leader in hosting and entertainment, partnering with clients to create memorable experiences for millions of visitors every year. Spectra’s unmatched blend of integrated services delivers incremental value for clients through several primary areas of expertise: Venue Management, Food Services & Hospitality, and Partnerships. Learn more at SpectraExperiences.com.
About Comcast Spectacor
Comcast Spectacor is part of Comcast Corporation, a global media and technology company that operates Comcast Cable and NBCUniversal. Comcast Spectacor’s three core businesses are the National Hockey League’s Philadelphia Flyers, the Wells Fargo Center Complex, and Spectra, a hosting and entertainment firm specializing in Venue Management, Food Services & Hospitality, and Partnerships. Learn more at ComcastSpectacor.com.