The analysis was conducted by Baker Tilly Virchow Krause, LLP using data primarily from a direct spending survey completed in January 2011 that asked recent conference and convention delegates and exhibitors to estimate their direct spending in a variety of categories. Results from 1,541 surveys were tallied. This information was used to analyze 2012 conferences and conventions.
“While, of course, we are pleased with annual growth, this number falls short of the true potential for Monona Terrace,” said Monona Terrace Executive Director, Gregg McManners. “The attached Hilton Madison Monona Terrace provides a block of 150 rooms for conventions and conferences, while the average conference and convention hosted at Monona Terrace requires a 300 room block. The larger 500-room convention hotel being discussed as part of the Judge Doyle Square project would allow the community to get the greatest benefit from its investment in Monona Terrace,” he said.
The Greater Madison Convention & Visitors Bureau, which secures the majority of conventions for Monona Terrace, has identified additional hotel rooms as a key element in sustaining Monona Terrace and the destination. “Our client base and prospective clients have cited the need for additional hotel rooms near Monona Terrace. Destinations throughout this region and nationally, are eclipsing Madison in terms of downtown hotel development,” said Deb Archer, President & CEO of the GMCVB. “Development of a hotel near Monona Terrace will help maximize and expand the positive economic impact of the facility and open up opportunities for the entire destination,” she said.
Monona Terrace is located at One John Nolen Drive in Madison and is open from 8 a.m. to 5 p.m., with a guided daily tour at 1 p.m. For additional information and hours, call (608) 261-4000, TTY (608) 261-4150 or visit mononaterrace.com.
Monona Terrace hosts approximately 600 events each year. In addition, the center produces and sponsors free or low cost community events that serve over 56,000 people each year. The Frank Lloyd Wright designed facility has a mission to be a high quality, customer focused convention and meeting facility that serves as a community gathering place, a tourism destination and a catalyst for economic activity for the City of Madison, Dane County and the State of Wisconsin.