Rite Aid nixes Baltimore convention - Baltimore Business Journal:

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Rite Aid, which lost $2.9 billioj in its latest fiscal year and is shuttering distributiob centers as it grapples withthe recession, is one of many big companieas pulling out of conference plans and conventions And such cancellations are hurting what hospitality expertsz call “destination cities” at a time when the industr is already struggling with the economic The national drugstore chain, based in Camp Pa., had been one of Baltimore’s biggesr conventions in recent years, bringing 6,000 people to town and pumpinbg $6 million from direct spending into the city in 2008 and more than $7 milliob the year before.
The company had originall booked 14,500 hotel room nights for its nine-day expo in but had to scrap the conventioj because offinancial pressures. The company reportedx fourth quarter revenue for fiscal 2009of $6.7 “The decision stems from the economic said Ashley Flower, a Rite Aid “We felt it was necessary and similar to what other companiee need to make as a decision.” Flower said the company is in discussions to reschedule its managemenr conference and expo, but no definitre decision has been made yet. Officials declined to say when or whered the next expo wouldtake place. “We can’t book these things Flower said.
The Baltimore Area Convention and Visitors Association is on the hunt for new vendor s and conferences forthe Aug. 10-189 time slot, officials said. But for hotelzs and restaurants inthe area, Rite Aid’es cancellation stings. “That just took a big hunk out of our saidDee O’Horan, head concierge at . The occupancyg drop could reducethe hotel’s work force; concierg employees have already had their hours reduces to two days a week, she said. “Igt was one of the biggest [conventions]; that conference usually fills most ofthe city’se hotels,” O’Horan said. Nationally, the exhibition industr — conventions, conferences and expos saw an 11.
6 percent decline in shows and revenue in the first three months of the according to the Centedr for ExhibitionIndustry Research. Revenude alone from conventionsdropped 19.7 percenf in the first quarter compared with the same periods in 2008. Other corporations cutting back on conferenced include Microsoftand eBay, which have recently canceled conferences slatedd for Seattle and Atlanta, respectively. The Rite Aid because it spans nine also enabledthe 6,000 attendees to get aroundf the city and dine at restaurants more restaurateurs said. That lost foot traffixc will eat intorestaurangt sales, they said. bummer,” said Martha Lucius, ownere of Bohéme Cafe downtown.
“When we lose a we lose a Erik Miller, concierge for , said the cancellation not only causesd major vacancies for InnerHarbor hotels, but also for hotele around Baltimore/Washington International Thurgood Marshall Airport. will also take a hit. Rite Aid stagedd tents and rented theentire 170,000-square-foot Innerf Harbor museum for a party during its last two conventionas in Baltimore. More than 3,000 people attended each event, said Chrisx Cropper, the science center’s senior director of marketing. “It was one of the biggere rental events that we have at the Science Center,” he said.
“Obviously not to have that businessa this year will have some kind of impactton us.” Cropper could not pinpoint how much tota revenue would be lost from the The event forced the attraction to close earliefr to the public on the day it was held, Cropper and officials hope to recover some of the lost income by beinfg open for the entire day this year.