etc . venues back on the growth agenda in London and New York
ETC . VENUES COO NICK HOARE TALKS TO PAUL COLSTON ABOUT THE VENUE GROUP ’ S QUICK BOUNCE BACK FOR BUSINESS AND PLANS FOR ROLLING OUT THE BRAND FURTHER IN NEW YORK AND OTHER US CITIES
F ollowing a couple of years of Covid-fuelled uncertainty and trauma for our sector , how has the etc . venues business weathered that storm and what are the prospects for the short and medium-term ? etc . venues is in a stronger position than pre-pandemic . It feels good to say we are now an established global provider of meeting and conference space .
The business has bounced back very quickly largely thanks to protecting our team , their skills and crucially our culture . The knock-on effect is that our clients have been with us on the journey and remained confident in our ability to deliver and in the value of our product .
The appetite for in-person events is no longer in doubt . There is a greater appreciation of the value of attending a meeting or conference . Delegate numbers are up . Occupancy is at pre-pandemic levels and demand has continued to grow . Our competition ( internal corporate space , hotels , and other players ) has waned – resulting in less space . Coupled with growing demand this is a good equation for us .
In the UK , we have surpassed 2019 figures for two months consecutively and our year end results are looking good .
In the US , demand has been stronger than expected ; our first two venues have really delivered and received excellent feedback , which gave us huge confidence to announce our third venue a couple of weeks ago .
Where does the brand now stand in terms of financials and its strategic journey ? We ’ re happy to be back on the ‘ growth agenda ’ with expansion plans both sides of the Atlantic . etc . venues is fortunate to have backers that can see the potential in the business model and have an ardent desire to capitalise on the market conditions . Next year the business will achieve £ 100m ( US $ 110.7m ) in revenues globally .
We will be following the news of 810 Seventh Avenue in the US with the announcements of two further London spaces in the coming months .
How has the etc . venues offer changed ? And what can you say about changing demand from the client side ? The beauty of a simple offer like ours is that it remains popular .
Great food , tech that works , design that inspires and a team that make every event a success . Clients return for the consistency of our offering .
Our chefs are producing more plant-based dishes than before . Projectors are now 4k laser quality found in cinemas , Wi-Fi bandwidth is upgraded and we are installing LED tiles for our media walls .
Future room designs will look to seamlessly integrate portable video conferencing kit , like PTZ cameras to allow for the growth in virtual connectivity at meetings .
Sustainability is at the fore for the industry but has been a part of our
“ Delegate numbers are up . Occupancy is at pre-pandemic levels and demand has continued to grow ”
business throughout our 30 years . Recently we were the first hospitality company to join the SME Climate Hub . We have a programme to recycle our coffee grounds and are the only venue operator to be accredited by the Coeliac Society . We achieved Bronze accreditation for all our venues from the Soil Association and are working with Green Tourism for their accreditation .
What can you say about changing demand from the client side ? What has surprised you most about client preferences over the last two years ? We have been really pleased by the ‘ bounce back ’ of larger events ; however I have been surprised by the approach of some clients and , indeed , some large corporate clients to their training
18 / CONFERENCE & MEETINGS WORLD / ISSUE 121