NEW YORK, December 3, 2019 – Questex's mission is to create a world-class information services business by advancing companies who help people live longer, healthier and better lives through the Experience Economy.
Today, Questex announces it is acquiring the Live Experience assets including Live Design, Club Industry and World Tea Expo. The acquired portfolio aligns perfectly with Questex’s focus on the Experience Economy, and will join the Company’s other assets focused on the Hospitality industry.
“The Experience Economy is here. Companies driven by ‘experiences’ have a competitive advantage with business growth. In fact, they grow four times faster than companies that don’t embrace the Experience Economy,” said Paul Miller, CEO, Questex. “Research shows that 74 percent of consumers prioritize experiences over products or things. The customer experience has taken over from price and product features as the key brand differentiator because individuals want to participate in meaningful work completed on their own timetables. As businesses compete for the attention of customers, experiences become a unique selling point.”
Questex’s Hospitality market portfolio includes properties such as the International Hotel Investment Forum (IHIF), Nightclub & Bar and the SIBEC Sports & Health Industry event.
The Live Experience and World Tea assets complement Questex’s Restaurant & Bar portfolio. Research shows that tailwinds are boosting the restaurant industry with food-service expenditures growing at 6.4 percent a year and tea market growth in the food service, specialty and the ready to drink markets align with the expansion of Questex’s Restaurant & Bar portfolio. In addition, lighting and design creates experiences in nightclubs and bars along with other experience venues making Live Design (LDI) a perfect fit with Questex’s Nightclub & Bar focus.
The Club Industry assets fit with Questex’s SIBEC Sports & Health Industry event as well as the hosted buyer environments Questex delivers in this market. Consumer experiences such as events and activities, spectator sports, membership clubs and sports centers are fast-growing, while expenditures on membership and sporting clubs are also growing strongly.
The Live Experience assets also include the rights to the XLive brands including the XLive Esports Summit and the WFX Network.