Etc.venues reports 18% sales rise & announces new venue in Paddington

City centre venue provider etc.venues has
announced a ninth venue in the Paddington Waterside Development. The new venue
will be etc.venues’ eighth in London and it is due to open in March
2011.

The opening follows the opening in September
of 120 Moorgate  in the City.

The new venue is next door to M&S’s new
Paddington HQ and will have a capacity for 500 delegates with the largest of ten
meeting rooms seating 200.    

MD Alastair Stewart said Paddington was
emerging as an important new business district in London on the back of the Paddington Basin and Waterside
developments. “Heathrow is 15 minutes away by express train and Crossrail is on
its way. Clients have told us the area is short of good venues and that’s the
gap in the market we intend to fill. 

“Our new Paddington venue is a continuation
of our strategy to offer high quality, great value city centre venues easily
accessed by public transport.” 

Commenting on trading, Stewart described
etc.venues’ results for the year to June 2010 as “encouraging” with sales
growing six per cent year on year to £15.7m. “2010/11 has started even better
with sales up 18% after the first five months,” said
Stewart

“We’ve achieved our growth by continuing to
take market share away from more expensive venues and  hotels which in the
current climate organisations, and now particularly those in the public
sector, can neither afford nor afford to be seen
using.”

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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