Qld’s Jewel underway
APRIL saw construction start on Australia’s largest hotel and residential complex – the $1 billion Jewel development in Surfers Paradise. The luxury building which is set to open in 2019 is predicted to deliver a significant boost to the Gold Coast tourism economy and to further unlock the lucrative high-end tourism market.
The Jewel will have three crystalline towers with 512 residential apartments, a 169-suite, five-star hotel, three levels of basement parking to accommodate 816 vehicles, and retail and dining precincts. The project has been designed to look like three jewels shining on the Gold Coast horizon.
Queensland’s Tourism Minister Kate Jones said with Chinese outbound tourism expected to double by 2020 to around 200 million people, the Jewel is a welcome addition to the Gold Coast. “This project will help position the Gold Coast as a destination of choice for luxury accommodation and holiday experiences,” Jones said.
Cvent acquired by Vista
EVENT management company, Cvent is set to be acquired by equity firm Vista Equity Partners for US$1.65 billion. Both companies have entered into a definitive agreement which will see Vista buy 100% of the outstanding shares of Cvent common stock and Cvent will become a privately held company.
Founder and CEO of Cvent Reggie Aggarwal said with the financial backing of Vista, Cvent will “be better positioned to deliver innovative solutions that transform the meetings and events industry, and to offer employees new opportunities for career growth”.
The all-cash deal is expected to close in the third calendar quarter of 2016, but is subject to closing conditions, including the approval of Cvent stockholders and required regulatory approvals.
MEA National Awards
THE industry came together to recognise and award its skilled members at the Meetings & Events Australia (MEA) 2015 National Awards Gala Dinner on 19 May. Held at the Melbourne Convention and Exhibition Centre, the centre triumphed time and time again at the awards, taking out three categories and a spot in MEA’s exclusive Hall of Fame.
The MCEC won Meeting Venue 500 Delegates or More, Cause Related Event of the Year and In-House AV Services. David Grant was remembered on the night with The Outstanding Contribution Award.
