By David Czurak | Grand Rapids Business Journal
When the fiscal year’s first quarter ended, there was an unusual role reversal among the buildings the Convention and Arena Authority operates. This time DeVos Place was performing better than Van Andel Arena; the opposite has usually held true for the past eight years or so.
At the three-month mark, the convention center was less than $22,000 in the red. A year ago, its financial color was more crimson than red: The building had lost nearly $490,000 by the end of September 2011.
The striking turnaround is partly due to a strong September 2012 when DeVos Place recorded a surplus of $85,000 from 51 events, a dozen more than it hosted the previous year. In his report to the CAA, SMG Director of Finance Chris Machuta called the July-to-September period the “best first quarter with a very strong September.”
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