Branson Convention Center reports revenue losses, $16M economic impact

At the latest Branson Board of Aldermen meeting Feb. 8, an official with the Branson Convention Center reported the Hilton Worldwide-managed facility lost $341,077 in 2010, compared to a 2009 loss of $905,508.

Bill Tirone, sales and marketing director of the meetings and events convention center, said the center hasn't turned a profit since its August 2007 opening but that the city still benefits significantly.

"Convention centers are never forecasted to make money," Tirone said in a phone interview this morning. "They are an economic engine that brings visitors to the area so that they spend money and create tax revenue."

The city, which owns the center and pays Hilton a flat fee of $150,000 a year to operate it, subsidizes revenue losses. In 2008, the center's first full year, revenue losses were approximately $472,000, Tirone said.

But, the economic impact more than makes up for city subsidies, Tirone said, pointing to a convention center study released Feb. 9 that states the center's meeting and convention attendees contribute about $16 million annually to Branson's economy.

Even so, Tirone believes the center will be in the black within two years, a year ahead of initial projections.

"We feel that, given the results that we've had so far, given the economy and the fact that we're still ramping up, hopefully in the next two years we can turn a profit," he said.  

In 2010, the convention center had 261 event days, compared to 251 in 2009. The revenue per event day increased to $17,769 in 2010, up from $16,540 per event day the previous year.

Approximately 140,000 people attended events at the convention center during the year.

The Branson Convention Center is a 220,000-square-foot facility within Branson Landing. The center connects to the Hilton Branson Convention Hotel, according to its Web site.
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