N.C.C. Management & Development anticipates a boost in revenue of up to five times and a doubling of visitor numbers to 13 million per year from the new Queen Sirikit National Convention Center (QSNCC).
"The occupancy rate of the new QSNCC has reached 70% from both local and international exhibition organisers from the first month of operation in September this year," said Sakchai Pattarapreechakul, president of N.C.C. Management & Development, the operator of QSNCC.
The highlights during that month include ASEAN Sustainable Energy Week 2022, organised by Informa Markets, Food & Hotel Thailand (FHT) 2022, and Thailand Sustainability Expo.
International markets account for 60% of overall exhibitions and trade fairs.
He said foreign organisers showed an interest in hosting events at the newly built site due to its strategic location, expertise and good image, which can attract the attention of Mice (meetings, incentives, conventions and exhibitions) travellers from neighbouring countries who are the target market for the industry.
The QSNCC is also a contender to host Apec 2022 in Thailand, but the company has to wait for an announcement by the government regarding its chosen venue.
Next year there are 130 exhibitions that have reserved space at QSNCC and the company would like the occupancy to reach 80%, as seen in the past.
Mr Sakchai said the previous convention centre used to host 6 million visitors per year, but the new QSNCC can simultaneously organise up to 10 exhibitions, which can attract 13 million visitors at its maximum.
Moreover, the company is currently developing the new retail space Bangkok Active Lifestyle Mall (BALM), spanning 11,000 square metres.
Mr Sakchai said all the developments should fuel total revenue growth by five times, of which new retail space could contribute 15% revenue to the company.
The concept of an active lifestyle mall will match the changing lifestyle and surroundings of the QSNCC in the Rama IV area, such as Benjakitti Forest Park, office buildings and community malls, said Thiranant Kornsritipa, executive vice president of retail business development at Frasers Property Commercial (Thailand).
The BALM will complement QSNCC with restaurants, everyday services, as well as a sports gym and therapy for healthy lifestyles.
Ms Thiranant said the majority of target customers are visitors and exhibitors, followed by sports enthusiasts and office workers.
Around 20% of retail space is already reserved, which the company hopes to increase to 40% in the first quarter of this year.