Events and training venue company etc.venues has outperformed its business forecast, with accounts for the year ending 30 June 2012 showing turnover up 23 per cent to £22m on the previous year and earnings before interest, taxes, depreciation and amortisation up 20 per cent to £5.4m. Its latest figures come just before the October opening of its 12th venue, in Moorgate, London.
Speaking to meetpie.com, the company’s managing director Alastair Stewart said: “etc.venues has outperformed in tough economic conditions but more importantly, client satisfaction has reached record levels – we’re number one in the BDRC Continental Net Promoter Index, which indicates the most recommended venue business in the survey and therefore by definition in the UK.”
Stewart says etc.venues is capitalising on the growing preference for city centre venues accessible by public transport. “Groups are also looking to book for one or two days maximum, delegates are going home at night and the requirements are for a contemporary, modern brand full of excellent technology and design and a staff passionate about service.
“We saw an opportunity for a larger venue room, one that caters to groups of 450 or so,” he added. “The first one was in our St. Paul's venue, which has been very well received. We’re picking up on a demand for quality among clients but they are often nervous about booking anything too glamorous. So, this new type of venue ticks off their boxes.”
While looking at opening new venues outside of London – “We have one in Birmingham, and we are investigating other UK cities” – Stewart is cautiously bullish about the future: “I do expert more of what we’ve already gone through economically, but we will see a bounce from the Olympics. It was a fantastic showcase for London, and while we have seen some negativity regarding empty hotels and poor venue sales, I think this mood will be overtaken by a strong autumn order book overall.”
Pictured: Alastair Stewart