Oxford Conference Center Scores $850K in 2023 Revenue
2023: A Year of Revenue Growth
Oxford Conference Center (OCC) experienced an impressive year in 2023, raking in a revenue of $850,000. The annual report delivered on Tuesday by OCC Director Micah Quinn to the Oxford Board of Aldermen, outlined the economic impact of the center on Oxford city and its various accomplishments over the year.
In 2023, over 65,000 visitors attended at least 250 events held at the center. The revenue comprised income generated from, among other events, 15 large-scale conferences, which alone contributed $312,000 – about 36% of the total income for the year.
“With these numbers, we are seeing the rebound from Covid,” Quinn explained. “This is validating an industry trend that meetings, conferences, and conventions have returned.”
OCC: A Dynamic Meeting Place
The re-emergence in events and conferences in 2023 provided a much-needed boost to the OCC, which previously had been closed for about 45 days for renovation. Being a flexible space over 25,000 square feet, the center is ideally designed to host a wide spectrum of events, ranging from corporate meetings and conferences to personal celebratory occasions like birthday parties and weddings.
The hall’s versatile ballrooms come with cutting-edge audio/visual equipment and can accommodate audience capacities ranging from 26 to a maximum capacity of 1,000 individuals.
The Financial Impacts
The buoyant financial year also saw OCC’s catering partners earning an impressive $292,000 in revenue. In addition, more than 2,600 hotel room nights were booked as a result of the events held, representing a remarkable 66% increase compared to the previous year’s figures. This resulted in further revenue generation for area hotels, wherein they earned a combined income of $280,000.
“I want to highlight that these nights booked were mainly (90%) on the weeknights,” Quinn pointed out.
OCC Looks Ahead
Looking forward to a promising 2024, Quinn announced that the OCC already has a record-breaking number of multi-day conferences lined up. The one to look forward to is the Mississippi Society of Association Executives which is scheduled this spring.
Quinn reiterated the significance of the forthcoming event, stating, “These are the people who plan conferences and meetings throughout the state.”
He added that the OCC together with Visit Oxford would work closely with this group to showcase what the city has to offer for their future meetings.
