Hannover Messe in big trouble! The end for Germanys Meeting Industry?
A bankruptcy of such a giant leader in the MICE industry would create shockwaves in the meeting and incentive industry.
2 million visitors, 37,000 exhibitors, 3.5 sqm of display space, and 113 trad fairs: This is “Hannover Messe “, the exhibition company in Hannover, Germany. Hannover Messe facilitated
The Hanover Fairground is an exhibition area in the Mittelfeld district of Hanover, Germany. Featuring 496,000 m² of covered indoor space, 58,000 m² of open-air space, 27 halls and pavilions, and a convention center with 35 function rooms, it is the largest exhibition ground in the world. Expo 2000, Germany’s first World Expo, took place in Hannover between 1 June and 31 October 2000, gathering 18 million visitors.
COVID-19 may have now taken ownership of Hannover Messe, a giant company in the MICE field bringing together exhibitors and visitors since 1947. This has helped numerous small enterprises to become world market leaders, while at the same time supporting large-scale enterprises on their road to further expansion. Our expertise is as diverse as our portfolio: Trade fairs for capital goods, human resource management as well as consumer goods. Helping your business is our passion.
Hannover based newspaper HAZ today questioned if the end is coming for Hannover Messe? According to the report, the company suffered enormous losses due to cancellation because of Coronavirus.
Deutsche Messe (German Trade Show company), the organizer for Hannover Messe needs another 100 million Euro to survive.
According to the paper, the State of Niedersachsen (Hannover is the Capital of Niedersachsen) and the City of Hannover are now facing three alternatives.
Bankruptcy, take over by another company or to ensure the standing as an independent company. To raise the needed funding German Messe (Deutsche Messe) could get the money as a public traded company on the open stock market, but a guarantee by the State and City would be required.
According to other reports, the Hannover Messe already received a million Euro loan from the Northern Germany Reserve bank.
Source: MICE BUSINESS