DeVos Place Arena Trade Dollars

September 23, 2005
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GRAND RAPIDS — DeVos Place lost $59,034 in August, pushing the convention center's deficit to $262,344 for the first two months of the fiscal year.

The August loss, though, was roughly half of what was expected in what is normally a slow month for convention business.

DeVos Place
hosted 29 event days during the month, five fewer than forecast, but event income still topped the month's expectation.

DeVos Place
has been projected to lose $1.15 million in FY06, which began July 1.

In contrast, Van Andel Arena had a surplus in August that was nearly identical to the convention center's shortfall. The arena earned $59,657 for the month on just three events, and that figure took the building into the black for the fiscal year with a two-month total of $25,724. August is also a traditionally slow month for the arena.

Van Andel Arena has been projected to have a surplus of $1.46 million for the fiscal year, and that revenue will be used to cover the

DeVos Place
deficit.    

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