ExCeL London Acquired
-- Tradeshow Week, 6/2/2008
Abu Dhabi Natl. Exhibitions, a company owned by the United Arab Emirates government, has acquired British exhibition and conference venue ExCeL London, which it plans to expand.
According to ADNE CEO Simon Horgan, the acquisition, valued at more than £318 million ($629 million), is the next step in a strategy to develop a global network of exhibition venues for the international exhibitions industry. He said the ExCeL acquisition and planned expansion would put London in the “super league” of world-class exhibition locations because it would make it possible to attract the most prestigious international events.
ExCeL London now offers 65,000 square meters (700,000 square feet) of exhibit space.
ADNE also owns the Abu Dhabi Natl. Exhibition Centre, which opened in February 2007 with 55,000 sq. m. (180,000 sq. ft.) of exhibit space
At the same time it announced the ExCeL acquisition, ADNE officials also said they would spend £615 million ($1.2 billion) on a second, bigger convention center in Abu Dhabi. The Al Ain Convention Centre will cover 275,000 sq. m. (3 million sq. ft.). A four-star, 225-room hotel will be linked to the conference center.
Horgan noted that ADNE does not intend to organize its own shows at ExCeL, as many European venue owners do. Its principal model is one in which ADNE is the venue owner and manager, not the show organizer. However, Horgan added, he anticipates ADNE will look for investment opportunities on the ExCeL site and surrounding area.
“We strongly believe in creating venues that are sustainable and capable of long-term success, not simply short-term appeal,” he said. “(The company) will develop a Phase II development at ExCeL to match the highest international standards.”
Horgan added, “ExCeL, over the past few years, has become increasingly important within the exhibition industry. We see excellent and natural synergies between ADNEC and ExCeL, and will provide both organizations with new resources. Together we can have the most exciting and successful future.”
Major events typically held at ExCeL London include the British Intl. Motor Show and the London Boat Show. Existing commitments at ExCeL – including several events during the 2012 Summer Olympics – will not be affected by the change in control of the center, according to ADNE.
