Las Vegas’ defining moment has arrived. The Las Vegas Convention and Visitors Authority (LVCVA) recently unveiled its plans for the Las Vegas Global Business District. This overarching vision will be the next evolution of the trade show business in the destination and will launch Las Vegas 25 years ahead of the competition.
Envisioned to be completed in phases, the Las Vegas Global Business District creates an international business destination synonymous with the world famous Las Vegas brand by incorporating major renovations of the Las Vegas Convention Center, expanding the World Trade Center designation and developing transportation connectivity through a centralized hub.
After conducting research and holding several focus groups with its clients, the LVCVA identified three key findings. The first creates an international business center by leveraging and expanding the World Trade Center designation. The designation provides the LVCVA with opportunities to market Las Vegas to business travelers around the globe under the World Trade Center brand. By creating a dedicated World Trade Center facility, the LVCVA plans to expand international business opportunities and increase market share by attracting more meetings and conventions to Las Vegas. More and more, the international audience is a key segment for trade shows and conventions. In some instances, the international audience represents 20 to 30 percent of attendees. The project is a bold investment in the power of face to face meetings.
The second area of focus is on renovating the Las Vegas Convention Center and creating a convention district. This includes building additional exhibit space, meeting rooms and general session space; upgrading technology; adding new food and beverage outlets; and, creating a grand concourse connector with more lobby space.
The third key element creates a centralized transportation hub that will improve connectivity in the resort corridor and improve the overall customer experience. The LVCVA is working to define a long-term strategy to accommodate the movement of people as Las Vegas projects to host as many as seven million convention delegates over the next 10 years.
The first phase will occur over the next two years and will include programming and design, the development of overall budget, improvements to the current space at the Las Vegas Convention Center and possible land acquisition. The LVCVA plans to issue up to $150 million of commercial paper to fund phase one elements. Build out of the entire project could take seven to ten years to complete. For more information, please contact the LVCVA’s Vice President of Sales Chris Meyer, CEM, CMP at email@example.com.