Branson Convention Center officials report a 2016 net loss of $398,783.
Photo courtesy BRANSON CONVENTION CENTER
Branson Convention Center’s net loss widens
Branson Convention Center’s net loss widened last year to $398,783 from $129,137 in 2015, according to data presented this week to the city’s board of aldermen.
Revenue in 2016 fell 5 percent to $4.3 million from $4.6 million a year earlier. Expenses ticked up by 1 percent to $4.7 million, according to the board’s March 14 meeting summary sent out this morning.
• Groups booked tallied 193, down from 219 in 2015.
• Group attendance, however, was up to 92,000 from 75,000.
• Room rentals of $563,000 exceeded budget by $38,000.
The city-owned convention center attached to a Hilton hotel has posted net losses each year since opening in August 2007, according to Springfield Business Journal archives.
The center managed by West Conshohocken, Pennsylvania-based SMG is known as a loss leader, meaning it’s not intended to turn big profits but drives revenue elsewhere. A 2011 study found the center’s annual economic impact was roughly $16 million.
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