- change ups
DeVos Place Makes Profit Again
For the month, the building was nearly $72,000 to the good, which followed a February performance that had $165,000 in net income.
The latest figure leaves DeVos Place roughly $237,000 in the black over the past two months. For the first two months of its existence, December and January, the building was $243,000 in the red.
SMG Finance Director Chris Machuta said the revenue gain in March was due to the Sports, Fishing and RV Show produced by Showspan Inc., the Women’s Expo produced by Kohler Expos, and a very large corporate banquet. He said attendance for the sports show was up by 15 percent from last year and up by 20 percent for the Women’s Expo.
As for expenses, the utility cost was about $20,000 less than expected at $165,000 for March. Machuta said this charge seemed to be leveling off a bit. But he added the overall cost would remain largely unknown until the chillers are activated to cool the building in warmer months.
At the three-quarters mark of the fiscal year, which March represented, the combination of the Grand Center and DeVos Place was $646,173 in the red. The fiscal year projection has the convention center losing $1.61 million.
Van Andel Arena had a banner revenue month in March with a surplus of nearly $360,000 for the month, about $60,000 over the projection. The arena is expected to have a $1.33 million surplus for the fiscal year ending June 30.