Question

All public assembly venues share a common thread in their mission statements or public purpose: to fill all available seats or fill all meeting room and exhibit space as frequently as possible. Why not sell all of the seats or floor space? Some public assembly venues may have financial profit as their primary focus while others may concentrate more on providing programming that best serves the community’s needs. The concept of selling every seat may be literally applied to arenas. With respect to convention centers, the goal may be to attract convention and multi-day meetings that bring large numbers of out-of-town attendees who spend “new” money in the community, thereby stimulating the local economy. Of course it must be recognized that other types of public assembly venues may attract out-of-town audiences from outside the taxing jurisdiction who also spend “new” money.

Based on the information provided:

1. Determine which of the two events will generate the greater amount of ancillary revenues for the complex.
2. Determine which of the two events will create greater positive economic impact for the metropolitan community.
3. Formulate for the board of directors a written recommendation regarding which event should be confirmed. Include at least 3 persuasive points to support your recommendation.

Answer 1

Answer) 1) Two events which will generate greater amount of ancillary revenue for the complex is

1-) A telecast of a film show or play by which selling snacks or coldrinks during the show can generate ancillary revenue.

2-) A book fair can be done by which the centre can sell books and generate ancillary revenue.

Answer-2) Two events which will create greater positive economic impact for the metropolitan community are-

1-) A football match in which thousands of people come and so their food , lodging will be done by local community and fans from all over the world will come and spend new money among the local community which will boost the local economy.

2-) Seminars are to be held in the complex by which many educated people will come and could find many job opportunities in the metropolitan community.

I think that telecast of film should be finalized because it requires very minimum setup which is a projector and sound system and the people will be coming in large number. Their is profit for the complex as well as community to make. The profit will come from tickets selling and from the snacks which will be sold. The people would also spend outside the complex boosting the Economy.