The veteran Century Promotions Plc has bagged the contract to host the upcoming Christmas and Easter holidays with 84 million Br, aspiring to breathe life into the fatigued exhibition scenes clouded by inflation.
About nine firms participated in the bid called by the Addis Abeba Exhibition Centre & Marketing Development Enterprise. Commercial Nominees, DCT Entertainment, and Pagumen Tour & Travel were also amongst the shortlisted companies eyeing the tender that opened two weeks ago.
Incorporated in 1991, Century promotion is familiar with the scene having organised multiple events at the venue before including the ongoing New Year exhibition.
Teklu Abate, head of marketing at the Exhibition Centre expressed his goodwill that a company with a better track record of organising successful events had won.
However, the offer put on the table seem to be declining by the year.
The winning offer is relatively lower compared to last year, where the same company won the bid to host the Easter bazaar for 28 million Br while its contender DCT Entertainment outbid the Christmas bazaar with a 35 million Br offer. A significantly higher amount was offered by Betahon Special Events Plc a couple of years ago, with commitments to host both holidays for 110 million Br. However, the Company defaulted on its obligation which led the Enterprise's management to take matters into their own hands.
The notable contender Commercial Nominees lost the bid with a 72 million Br offer. Established three decades ago, the Company has over 43,000 employees across 33 branches.
For Yeshitela Tefera, the operation manager, who believes their offer was too high on its own, the winning price was surprising.
"It's risky," said Yeshitela.
Commercial Nominees collaborated with Century Promotion last year organising the Easter bazaar. Although a similar arrangement has not been made so far, Yeshitila hopes to get into the joint venture scheme once more.
"We are open to partnership," he said.
The Enterprise Centre is a hub of at least 30 events annually. Executives suggest that New Year, Christmas and Easter are the three holidays that boost revenues with nearly 20,000 daily visitors during peak season. Close to 125 million Br revenues were generated from rental fees last year.
Executives aspire to avail 1,400hct of land which used to be Sebastopol Cinema occupied by Tewodros Teshome for other ventures; currently serving as a game zone.
Around 500 booths are expected to be rolled out for vendors to showcase their products.
This led the enterprise to carry on hosting the expos with the support of the sponsors.
Although it was incorporated seven years ago, Pagumen Tour & Travel is a novice in the event organisation scene changing gears from the tour and car rental activities.
Bereket Gebre, operation manager, opted to withhold the offer from his company but said it has been an experience on how to navigate through event organising.
"It's a lavish offer for uncertain returns," said Bereket.
For retired event organisers that left the stage after setting the trend such as Adika Tour & Travel, bazaars have lost their mission of showcasing unique products and serving as a platform to connect ambitious vendors with buyers and turned into a mere marketplace with exorbitant prices.
Abraham Solomon, a deputy general manager of Adika said they decided to withdraw from hosting exhibitions following the change in the business scheme. He suggests that the organisers should think long and hard about the value proposition and set a price to have a meaningful event.
"It's neither inviting for visitors nor advantageous for the vendors," he said.
PUBLISHED ON
Sep 09,2023 [ VOL
24 , NO
1219]
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