The world’s largest venue management company, ASM Global, has been appointed to run operations at Olympia London.
The senior management team and all Olympia London staff will move to the international venue management giant.
Yoo Capital and Deutsche Finance International will continue to own the 136-year-old venue.
Managing director Nigel Nathan will take on a new role as chairman and a new MD will be appointed for the day-to-day running of the venue in the coming months.
ASM Global has a portfolio or more than 300 venues worldwide and was formed by the merger of AEG Facilities and SMG in 2019.
The partnership will expand ASM’s footprint in Europe and enable Olympia London to compete harder in international markets as they expand into live events and conferences, they said.
ASM Global will take management responsibility for all events including the exhibitions, conference, concert and entertainment businesses.
Nathan said: “This is a truly exciting chapter in the history of Olympia London ‐ a partnership with a global venue management company with far wider business reach and resources than we could have ever imagined. The future for Olympia London and the events we host has never been brighter as we benefit from the £1.3bn (US$1.74bn) investment to create an outstanding destination for London. I decided some time ago to transition from managing director to chairman and now is the perfect time to begin that process knowing that the business is in the best position to benefit from the globalisation of events in partnership with ASM Global.”
ASM Global and Olympia London’s management teams have already been working on a venue enhancement plan for world‐class conference and hospitality facilities.
Los Angeles based ASM Global’s portfolio in the UK includes the OVO Arena Wembley, the AO Arena Manchester, Gateshead Quays, York Barbican and P&J Live in Aberdeen.
ASM venues host 20,000 events and 165 million guests every year. Other flagship venues include LA Live in Los Angeles, Darling Harbour in Sydney, McCormick Place in Chicago, Coca-Cola Arena in Dubai, Moscone Center in San Francisco, ICC Sydney, Shenzhen World in China.
ASM said the partnership will “leverage its global relationships in content, programming, planning, technology, sustainability and guest safety to further enhance the visitor experience at Olympia London.”
Ron Bension, president and CEO of ASM Global, said: “We are proud to partner with Olympia London, Yoo Capital and Deutsche Finance International on this amazing and historic venue, positioning it at the forefront of the industry for the next 100 years. Our commitment to guest and partner satisfaction aligns with the reputation of Olympia London and we look forward to continuing to serve existing and new clients’ event schedules at Olympia London and developing the programme with other signature events.”
Tom Lynch, group commercial director and senior vice-president (Europe) at ASM Global, said: “Olympia completes the jigsaw for our international convention and exhibition portfolio and adds an iconic new platform for our global client base.”
The £1.3bn redevelopment of Olympia ‐ which will be completed in 2024 ‐ includes a 4,400-capacity live music venue (to be operated by AEG Presents); a 1,575‐seat performing arts theatre; a school for the creative arts; 100,000 sq. ft. of restaurants, bars and eateries; two globally renowned hotels; 550,000 sq. ft. of offices and 2.5 acres of new public realm.
Lloyd Lee, managing partner of Yoo Capital added: “Partnering with ASM in exhibitions brings an unparalleled global network that places Olympia firmly on the world map, as befits central London’s premier exhibition centre, while also ensuring we can bring global best practice to the thousands of UK SMEs who come to Olympia London’s halls each year.”
