Brookings Study on Convention Centers

Here are the three major findings of a new Brookings study on convention centers:

* The overall convention marketplace is declining in a manner that suggests that a recovery or turnaround is unlikely to yield much increased business for any given community, contrary to repeated industry projections.

* Nonetheless, localities, sometimes with state assistance, have continued a type of arms race with competing cities to host these events, investing massive amounts of capital in new convention center construction and expansion of existing facilities.

* Faced with increased competition, many cities spend more money on additional convention amenities, like publicly-financed hotels to serve as convention "headquarters."

My view: Exercise caution in your convention center investments, no matter what the convention center consultants tell you!

Here for more.