Press Cuttings Transcripts

CONFERENCE & INCENTIVE TRAVEL – MARCH 2005

Millions of pounds are being ploughed into projects across London that will see this city’s conference facilities and infrastructure given an unprecedented boost. Jane Dunford takes a look at the latest capital developments.

Purpose-built conventions centre the latest news.

London could be a step closer to getting a purpose built international convention centre after a report revealed it was turning away business worth £17m each year due to the lack of a world-class facility. The study, conducted by international consultant Grant Thornton for the Mayoral Commission and published last November, indicated that the equivalent of 90,000 delegate days were being lost annually, with business going instead to rival cities such as Paris, Barcelona and Vienna. The proposed venue would have a capacity of up to 5,000 people with flexible, state-of-the-art facilities.

Maritz Travel Europe vice-president and Commission committee member Graham Frazer says: “The study showed London is crying out for a venue with the right facilities for big events. It is missing out on international events when it should be at the forefront.

Consultants are working out the economic impact a convention centre would have on London and the UK. Locations across the capital are being considered and a final report with proposals will be submitted to the Government in July. Commission chairman Gerry Acher says: “After that the question will be how do we fund it – profits would cover operating costs but not capital costs, so the next stage would be looking at how we can put together a finance package”.