Latest strategic expansion will increase its portfolio in NYC to 30 meeting and event spaces
NEW YORK CITY (Sept 21, 2022) etc.venues is to open a third meetings and events venue in New York City at 810 Seventh Avenue, extending its portfolio in the city up to 30 meeting and event spaces and 100,000 square feet.
When the 810 Seventh Avenue venue opens for business later this year, the leading provider of urban non-residential event venues in the UK and New York City will offer an extra 7 meeting spaces across two floors, 22nd & 23rd, with the largest room able to accommodate up to 140 theater style.
With this latest strategic expansion in West Midtown Manhattan, following the opening of venues at 360 Madison Avenue (45th Street) in March 2020 and 601 Lexington Avenue (53rd Street) in June 2021, etc.venues will have established three major venues in the city since business events restarted post pandemic.
810 Seventh Avenue is located between Times Square, the Plaza District, Columbus Circle and Central Park. The space offers spectacular views of Central Park and the Hudson River. The 41-story building has a sleek new lobby and recently modernized elevators. The property is owned and operated by SL Green who are Manhattan’s largest office landlord with interests in 64 buildings and over 34.4 million sq. ft. It is easily accessible from nine subway lines and Penn Station.
etc venues has seen a consistently strong demand for space since November 2021, particularly since staff started working in offices more often. In addition, it has seen a new demand for space for company collaboration and meetings created by the trend for Working From Home (WFH) and Working From Office (WFO) where organizations no longer have suitable meetings amenities in-house.
The experience of etc.venues this year is consistent with the view of Allied Market Research which, in a report on the U.S Corporate Events Market published in September 2021, said that “the U.S. corporate event market has been valued at $95.3 billion in 2020 and is estimated to reach $510.9 billion by 2030.”
Nick Hoare, Chief Operating Officer of etc.venues explains “The success of our two existing NYC properties plus a healthy sales pipeline supports our planned further expansion at 810 Seventh Avenue. This is the first of what we expect to be several new openings in the next few years as we step up investment and recruitment in the US. We are confident that our growth plans will take the business close to $125m annual worldwide revenue next year.”
NYC & Company President and CEO Fred Dixon said: “New York City is back in a big, big way, with a busy events calendar this fall and beyond. As face-to-face meetings, conventions and events continue their comeback, delegates and meeting planners both are choosing NYC. They have a robust menu of world-class venues and experiences from which to choose and etc.venues’ newest location in the heart of Midtown is a welcome addition. It will undoubtedly prove to be a popular choice.”
Steven Durels, SL Green’s Executive Vice President, Director of Leasing and Real Property commented “We’re excited to welcome etc.venues to 810 Seventh Avenue. They are an industry leader whose presence in the building will provide a significant benefit to our tenants. We are investing heavily in the hospitality experience for our tenants and we see the arrival of etc.venues as a significant addition towards that goal.”