Manchester Central has reported an impressive turnover of £27.2 million for the fiscal year ending in March 2024, marking a 6.2% increase from the previous year.
- The venue welcomed nearly half a million visitors, contributing an estimated £137 million to the regional economy.
- Key events included The Conservative Party Conference, the Interflora World Cup, and the Hyrox World Championships.
- CEO Lori Hoinkes emphasized a strategic focus on long-term profitability and investment in staff wellbeing.
- The venue aims to strengthen Manchester’s position as a global city for events and entertainment through collaboration.
Manchester Central has demonstrated remarkable financial performance with a reported turnover of £27.2 million for the year ending March 2024, reflecting a 6.2% increase compared to the previous year. Despite challenges from rising operating and utility costs, the venue achieved a profit before tax of £3.8 million, up from £3.2 million, showcasing its resilience in a turbulent economic climate.
Hosting significant events, Manchester Central drew in nearly half a million visitors, positively impacting the region’s economy with a contribution of approximately £137 million. For every pound spent by delegates at the venue, six pounds were injected into the local economy, benefitting hotels, restaurants, bars, and transport networks. This economic synergy highlights Manchester Central’s vital role in driving economic growth within Greater Manchester.
Over 150 events were hosted during the year, including notable ones such as The Conservative Party Conference, a first-time hosting of the Interflora World Cup in the UK, and the 2023 Hyrox World Championships. In October, the acclaimed WOMEX music convention further showcased the venue’s international appeal, with expected business values reaching £28.3 million.
CEO Lori Hoinkes attributed this successful year to the venue’s agility and strategic emphasis on providing a strong offering for event organizers. She highlighted investments in enhancing staff wellbeing, ensuring salaries align with the Real Living Wage, and developing new spaces like the Junction, a bar and restaurant designed to serve both delegates and the public.
Commitment to collaboration with other venues such as Co-op Live and Aviva Studios aims to firmly establish Manchester as a key destination for global events and entertainment. By fostering long-term partnerships and securing multi-year contracts, Manchester Central is positioning itself to maintain its competitive edge amidst a challenging landscape.
Manchester Central’s robust performance underlines its strategic foresight and collaborative efforts in strengthening Manchester’s appeal as a global event hub.
