Sporting, conference and events venue The Kia Oval in London is reporting its most successful year on record, with over a £1m increase in revenue generated from its meeting, events and conference division.
In 2013, the Kia Oval’s conference and events division put £2.7m in revenue on the board. This year the team expects the figures to exceed £3.8m from January 2014-January 2015.
The venue team says the jump is largely due to a boost in its corporate conference, meetings and event bookings from Blue-chip clients, as well as a 150 per cent increase in its private wedding bookings.
Events contributing to this revenue increase include the International Wine Challenge 2014-2015, which took place in November, and a variety of other key government, banking and educational events and roadshows.
Kia Oval has also implemented a company-wide development programme, which has seen over £2.5m invested in its facilities over the past three years. These improvements include a £2m revamp of the historic Members’ Pavilion in 2012, the transformation of its 540sqm Jardine Suite and a £250,000 development of The Corinthian Roof Terrace; a joint venture between The Kia Oval and Compass Group UK & Ireland which was completed in 2013.
Looking ahead to 2015, Charlie Hodgson the Kia Oval’s Commercial Director told CN the focus was on ways to maintain the business growth levels.
“We will be concentrating on driving our banqueting and special events segments up with a 15 per cent increase to support our core daytime meeting and conference business.
“In addition, we will be going after the small exhibitions market, which can be perfectly placed in our new Jardine Suite. We also have focus on becoming a ‘local business hub’ with business exhibitions, and hosted networking events, from which we hope to develop stronger connections with clients and businesses in the area.”
Do you have a news story for CN? Email: Zoe Vernor