OVG Facilities’ venues deliver unprecedented results in first year of operation
Four of OVG Facilities’ managed venues delivered impressive results within the first year of operation.
The Kovalchick Complex, Watsco Center, Two Rivers Convention Center and the Avalon Theatre exceeded expectations by achieving recording breaking years, revamping and streamlining venue operations, and carrying out several venue improvements.
OVG Facilities’ SVP, Tom Paquette, said:
When we started the company, our main objective was to focus on our client’s goals and objectives. We take that philosophy and pair it with our experience, and it’s yielding great results. By placing the right people in the correct rolls, providing them with the resources and tools to be successful and having a transparent relationship with our clients is proving successful.
OVG Facilities took over management of the Watsco Center on the campus of the University of Miami in March of 2016. Within the first fiscal year of managing the venue, the team improved revenue by 80%. Also, they lowered expenses allowing the venue to turn a profit for the first time in its 15-year history. Additionally, the OVG Facilities team launched a new user-friendly website, renovated the concourse and concession stands, and installed new sound and lighting systems.
The Kovalchick Complex, located on the campus of Indiana University of Pennsylvania (IUP) in Indiana Pennsylvania delivered the Highest Net Operating Income in facility history, an increase of 251% since OVG Facilities took over management in 2016. The team also delivered the highest conference centre operating income in facility history, increased Food & Beverage gross operating revenue, hosted WWE for the first time in venue history, converted a previously underutilised auditorium and created a Live Theater series.
In January of 2017, OVG Facilities took over management of the Two Rivers Convention Center and Avalon Theatre in Grand Junction, Colorado. In the first year of operation, they increased profitability, decreased expenses, and improved the guest experience. The team implemented several venue improvements, streamlined operations and introduced new and successful events to Grand Junction. All leading to a decrease in the City’s subsidy by nearly $200,000, making this the best year ever for the Two Rivers Convention Center and Avalon Theatre.
Additionally, a total overhaul of the Food and Beverage operations was completed at each facility, a ticketing platform implemented, and OVG Facilities’ PEAK Customer Service Program was rolled out for staff and guests.
Doug Higgons, OVG Facilities’ SVP, said:
It has been a fantastic first year for several of our venues. We look forward to building on that success for our clients and with the new resources through the Oak View Group, the future is bright for our venues.
Pinnacle Venue Services recently merged with the Oak View Group (OVG). Oak View Group Facilities, a division of OVG, was founded in 2015 by Irving Azoff, Tim Leiweke, with Madison Square Garden Entertainment a full-service venue management company. They operate and book arenas, theatres, convention centres, and amphitheatres throughout the U.S. delivering customised management plans for each of their venues. OVG Facilities specialises in event programming, booking services and creating unique experiences that focus on delivering premium content to enhance the guest’s experience.
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