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  • The increase in H2-B visas will help small and seasonal businesses to meet workforce demands critical in peak tourist periods.
  • SMG signed a 3-year agreement to continue managing Cobo Center in Detroit. SMG has been the management firm for Cobo since 2010.
  • Highlights of SMG’s tenure include oversight of a major renovation, reduced operating deficit and creation of a technology department.
  • Ground was broken June 20 on the expansion of the MGM Grand Conference Center in Las Vegas. The 250,000-sf project will wrap up next year.
  • The $130 million expansion includes two new ballrooms, 11 breakout rooms and additional space for the center’s Stay Well Meetings feature.
  • The Louisville Downtown Marriott Hotel is undergoing a $30 million renovation slated for completion in August 2018. The hotel remains open.
  • The Marriott is attached to the Kentucky International Convention Center and offers 50,000 sf of meeting space and 616 guest rooms.
  • AEG plans to acquire four acres in downtown Nashville to be developed as a mixed-use entertainment district at SWVP’s Nashville Yards.
  • The mixed-use district will be anchored by a 4,000-capacity music hall, luxury theatre, live entertainment club, boutique hotel & more.

UBM plc Announces Solid Financial Performance at Annual Meeting

Sandi Cain
, News Editor
May 17, 2017
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London— UBM plc, the largest B2B event organizer worldwide, announced financial results for the current fiscal year that reflect growth in some sectors and challenges in other areas.

UBM plc shares closed at £700 GBp ($541 US), down from a high of £757 GBp ($585 US) on March 30 but up from £516 GBp ($399) last May. In its announcement, the company said the performance was “in line with management expectations.”

Strong performance at events like the MD&M West, Enterprise Connect, Seatrade Cruise, Game Developers Conference and Hotelex & FineFood Shanghai offset mixed performance at spring fashion events, particularly in the U.S., the company said. In that sector, the company noted that growth in Sourcing and a positive launch of IFF Magic in Japan offset challenges in some U.S. fashion segments. The company also has announced that the Taiwan Jewelry & Gem show will be returning to Taipei this fall.

In light of the solid performance, UBM executives reaffirmed that its focus will remain on accelerating organic growth and driving further margin improvement across its 50 industry sectors going forward.

Reach UBM plc investor relations at (44) (207) 921-5023 or kate.postans@ubm.com

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