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Music City Center Off to Strong Start for Fiscal Year 2015
MUSIC CITY CENTER OFF TO STRONG START FOR FISCAL YEAR 2015
FOR IMMEDIATE RELEASE
October 14, 2014
NASHVILLE, Tenn. - Charles Starks, President/CEO of the Music City Center, announced today that the building has generated over $55 million in economic impact during the first quarter of fiscal year 2015.
The Music City Center hosted 88 events with 142,960 attendees during the first quarter of fiscal year 2015. These events generated 57,575 room nights for a total of $55.7 million in economic impact. This is more than double the economic impact generated just a year ago during the first quarter of fiscal year 2014. Tax collections continue to outperform projections and the Music City Center portion of tax collections was up 43.43 percent year over year for July 2014.
First quarter highlights include the National Association of Music Merchants, the American Society of Association Executives (ASAE) Annual Meeting & Exposition and the Association of Air Medical Services. ASAE brought over 6,000 association executives, hospitality industry professionals and corporate partners to the city for five days. Over half of this year's participants are the decision makers for their association's future convention locations and experience shows that 20 percent of these association executives will book a meeting in the host city, generating an additional $500 million in revenue over the next five to ten years.
"We knew that as we began fiscal year 2015 demand would increase from word-of-mouth marketing but these numbers have exceeded even our highest expectations," said Starks. "We have already seen an increase in sales just since ASAE left in early August and we don't anticipate it slowing down anytime soon."