Exhibition Place Management Report
Item No. 4 Management Report October 31, 2012 Exhibition Place │ Management Report │ October 2012 │ 1 Executive Summary . Combined Operating Income for Exhibition Place and Allstream Centre for the ten months ended October 31, 2012 before net naming fees, building loan interest and amortization expense for the Allstream Centre was $137,626 compared to a budget (loss) of ($1,578,398) for a favourable variance of $1,716,024. Net Income (loss) for Exhibition Place and Direct Energy Centre for the ten months ended October 31, 2012 was ($449,866) compared to a budget (loss) of ($1,605,838) for a favourable variance of $1,155,972 primarily due to lower utilities, lower grounds maintenance due to minimal snow, warmer weather and building operating costs. Operating Income before interest and amortization expense for Allstream Centre for the ten months ended October 31, 2012 was $587,492 compared to a budget of $27,440 for a favourable variance of $560,052. In September and October the Sales & Marketing team secured 41 new events for Exhibition Place. As of October 31, 2012 Exhibition Place staff have serviced 261 events compared to 241 in 2011 and 229 in 2010. In addition staff continue to support the tenant events on the grounds and the public’s use of the parkland. In October, the management team of Centerplate, in partnership with Olympus Partners, purchased the company from majority owner, Kohlberg and Company. Exhibition Place’s Recognition Committee received a record-setting 121 staff nominations for the August/September period. October 2012 Financials for Exhibition Place and Allstream Centre Combined Operating Income for Exhibition Place and Allstream Centre for the ten months ended October 31, 2012 before net naming fees, building loan interest and amortization expense for the Allstream Centre was $137,626 compared to a budget (loss) of ($1,578,398) for a favourable variance of $1,716,024.
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