CICC earns P5M in first half of 2007

The Cebu International Convention Center has generated revenues amounting to P5,052,920.56 in the first half of the year, as reported by the Philippine Exhibitions and Themeparks Corporation.

PETCO chairman Jose Yulo announced that even without reinforced marketing, CICC has hosted at least 47 activities from January to June this year.

These events included eight exhibitions, six local conventions, 16 meetings and seminars, three international conventions and 14 special events.

The revenues, however, do not include the earnings generated from the 12th Association of Southeast Asian Nations Summit and the Philippine Councilors’ League convention.

According to “Sugbo,” the official publication of the Cebu provincial government, about 52 percent of the CICC revenues came from exhibitions, 24 percent from special events, 18 percent from conventions and six percent from meetings and seminars.

It added that from last July 27 to April 2008, over 30 events have already been booked while 27 more await confirmation.

The multi-million CICC, located in Mandaue City, was the venue of the controversial ASEAN Summit and some critics say it was only built for the gathering of the heads of state from Southeast Asia and the pacific.

But the revenues would show that the CICC continues to earn income out of various exhibitions, seminars and conventions.

Yulo had suggested to the CICC board to reconfigure the structure into an exhibition center. He said as an exhibition center, CICC has less competition compared to being a convention center that would compete with hotels.

Yulo added that an exhibition center is more advantageous because it is easier to maintain. — Mitchelle L. Palaubsanon/LPM