AEG Celebrates 5 Years at the LACC
THE Los Angeles Convention Center (LACC), owned by the City of Los Angeles, recently celebrated five years of successful operations by AEG Facilities Management. The public-private partnership has exceeded expectations and established the LACC as an integral centerpiece of convention and special event development in Downtown LA.
When AEG Facilities was awarded the management contract in 2013, the privately-owned company set out to increase the number of events, increase revenues, reduce expenses as well as make capital improvements to the aging facility. With nearly 250 events and 2.5 million visitors per year, the LACC is now generating approximately $781 million per year in economic impact for the City of LA and has built an operational profit of $35.6 million in five years, much of which has been reinvested in the convention center.
The Smart City LA team would like to congratulate AEG on their five-year anniversary and look forward to maintaining a strong relationship with them for years to come!