Miami Beach Mayor Matti Herrera Bower and the Miami Beach Commissioners have voted unanimously to renew the contract of Global Spectrum as managers of the Miami Beach Convention Center (MBCC) and the Colony Theatre.
The three year agreement extends the current contract through September 30th, 2016, followed by two (2) one-year options that could keep Global Spectrum in place through September 20th, 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. “This partnership dates to 2008. Our agreement not only builds on our past successes together, but looks forward to continued prosperity as we transition our facility from local trade shows to international management, business and professional conferences.”
Global Spectrum took over management of the MBCC in October of 2008 and has produced strong financial results each year by reducing operational expenses, increasing revenues and ultimately 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 fifty- plus year history, creating a positive net income of $21,833, an improvement of $1,012,490 over what was budgeted.
“This is a very important and exciting announcement for Global Spectrum,” said Global Spectrum Chief Operating Officer John Page. “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. 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 both city-owned venues that Global Spectrum has been selected to privately manage, providing functions including Management, Sales and Marketing, Event Management, Operations, Finance and Guest Services. In addition to the two venues in Miami Beach, Global Spectrum manages the BankUnited Center at the University of Miami and the Palm Beach County Convention Center locally, as well as over 100 other public assembly facilities across the world.
“Global Spectrum has been able to accomplish great results at the Miami Beach Convention Center through a lot of hard work on the part of our staff and building partners, but also through the strong relationships we enjoy with the City of Miami Beach, the Greater Miami Convention & Visitors Bureau and the many Chambers, Associations and local organizations that lead this community,” said MBCC General Manager Bob Balsam.
“Our renewal is a strong testament to all of that hard work and those true partnerships and we look forward to continuing to build on our success here in Miami Beach.”