When you bet large on convention business, you lose large when large conventions pull out or downsize. There's simply no way to replace the lost revenue overnight. Or even within a year or two.
And that's what officials in Los Angeles are realizing in the wake of the E3 downsizing announcement. An event that brought in $19 million in tourism revenue this year will now likely bring in much less than half that next year. And it's expected it'll take till 2009 to fill the hole E3 has left.
Meantime, a July article in the Sun-Times that we missed when first published aims to prove that Chicago's convention business is much healthier than has been reported. Interesting read with some interesting - and underreported - data on Chicago.
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