We recently assisted the Greater Miami Convention and Visitors Bureau with the development of an updated market demand and financial analysis for future expansion of and/or improvements to the Miami Beach Convention Center. Our research was heavily focused on assessing current and projected event planner facility needs. The analysis assessed current and future facility features that could allow the Miami Beach Convention Center to compete effectively in specific target markets.

 

Based on this research, we developed comprehensive financial operating models designed to measure the impact of facility development, changing event levels and industry trends on facility financial performance.

 

Prior to this engagement, CSL project managers directed a study to evaluate the future industry growth potential and facility needs in the convention, meetings and tradeshow market in the Greater Miami and the Beaches area (Destination). As part of the overall study, several hundred planners of existing and potential Destination facility events were surveyed, the historical operations of existing facilities were analyzed and benchmarking studies of competitive and comparable projects were conducted.

 

Most recently, in 2011, CSL completed a market and program analysis for a proposed downtown Miami conference center. The research conducted as part of this study included analysis of historical operations of existing Miami convention facilities, extensive surveys of event planners, analysis of competitive facilities within the market, analysis of industry trends that would impact the project and an overview of conditions in both downtown and greater Miami that could impact the viability of potential future facility development.