CHICAGO -

·       The parking rate will be reduced from $19 to $14 in Lot B (the surface lot) effective immediately.

·    Completion of the refinancing of MPEA’s debt will provide greater financial stability for the convention center, while funding an expansion of the on-site Hyatt Regency McCormick Place Hotel.

·       Hotel expansion is moving forward and MPEA has engaged TVS Design to assist in preparing the design and development documents. Anticipated completion date for the hotel expansion is December 2014.

·      There is a new competitive model for obtaining electrical services where companies may now compete to provide electrical services, as long as they are approved by MPEA. If a show chooses McCormick Place to provide electrical services, the facility must provide those services at cost.

·       A 23-member Advisory Council has been created to oversee and advise the implementation of reforms; the Council includes show organizers, exhibitors, labor, service and exhibitor contractors and MPEA and CCTB management.

·       Exhibitors can bring food into McCormick Place from the outside for consumption by employees.

 “These Phase II reforms will provide even greater cost savings for our show organizers, exhibitors and attendees,” Causton said. “We received much positive feedback about our Phase I reforms and anticipate that our existing and prospective customers will welcome this next round of reforms as well.”

According to the Chicago Convention & Tourism Bureau, the McCormick Place reforms have already resulted in nearly a dozen trade shows either re-committing to host shows in Chicago or committing to bring business to Chicago for the first time. Collectively, those commitments represent more than $1.6 billion in estimated direct expenditures for Chicago during the next decade.

by Helen Holzer, Exhibitor’s Daily