Re: Re: Convention centre
Mansfield will make his money from the hotel rooms like any other conference centre. Most National conference centres are technically loss leaders however the Earlscourt Olympia group in London according to estimates published by the British government is responsible for 2bn spend for every 2oom of their turnover.
Your argument on risk and reward appears correct although it does not stand up in practice as there are to my knowledge and according to the article above, 3 property developers competing for the national conference centre competition who would not be doing it if it wasnt going to make money. I would expect that this would include government subsidy in the short term however if the benefit to the Irish economy was going to be a multiple of 10 of the capital input surely that would be a benefit to all? Again, the vast majority of this spend will come from a market that Mansfield will have no access to. Dublin is one of the most desirable destinations in surveys of the large international conference organisers but they would not go to a shed in the suburbs.
The Frankfurt Messe by the way is competing against the Saalbau and the Jahrhunderthalle Frankfurt.