Extra space, new government contracts and investment will drive etc.venues forward in 2021 and beyond
Additional space in the UK, major new long-term government contracts, and continued investment in virtual venue environments for hybrid events will drive etc.venues business forward in 2021 and beyond.
From September 2021 etc.venues will have a further seven rooms at 133 Houndsditch, including a suite for 240 people on top of the current second floor area where the largest room can accommodate 700. The addition of this extra interconnected space increases the size of the venue in the City of London by almost 50 per cent to 50,000 sq. ft.
The new conference floor which was completed in 2020, less than 12 months after the initial opening of the venue in April 2019, will become available later this year following a long-term workspace client contract.
COO Nick Hoare said “The additional space at 133 Houndsditch creates a very large, flexible Covid-secure event venue in the City of London, which will be well suited to clients particularly if social distancing measures remain in place this year. We hope the timing of this space becoming available for the market this year will coincide with a return to face to face events and allow the newest and largest venue in the City of London to reach its full potential.”
In addition to opening this extra space in the UK, etc.venues is looking forward to relaunching 360 Madison Avenue in New York City as well as opening 601 Lexington, which will be open to the market in Q2.
In the second half of 2020 etc.venues developed a new income stream, securing around £2m of revenue for workspace in the UK. Building on this, etc.venues has secured both corporate and government long term contracts at its properties including HMCTS and a vaccine centre in London. Once lockdown ends, etc.venues expects many organisations to benefit from the flexibility of dedicated “space on demand” that etc.venues offers for their teams to meet and collaborate, especially as many corporates are looking to downsize their existing footprint as they balance the return to the office with Working From Home.
Further investment in technology
A recent market survey by etc.venues confirmed that hybrid events will have a major place in the market in 2021 with 73 per cent of event planners now saying that hybrid events will continue to be more commonplace in future, up from 67 per cent when asked in May.
In recognition of this, etc.venues is investing further in technology to help event planners create a more seamless experience between online and in-room audiences. The company is developing its own 360degree virtual venue lobby, to offer a 3D experience for online event attendees modelled on an actual etc venues. This will bring all attendees closer in their experience of etc.venues’ high quality venues.
The doors to etc.venues have remained open throughout the pandemic to provide essential training and education as well as hybrid events including UKickstart 2020, in accordance with government guidelines and the group’s Covid-safe 18 point plan.
Hoare added: “At etc.venues, we responded to the challenges of 2020 by continuing to invest, develop and adapt our offering and drive the business forward. As a result, we are now in a strong position to service our clients’ requirements in 2021 and beyond.”
