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MZT

Furniture Market Expansion (Gossip)

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I've heard from a normally credible source, that High Point is considering selling some city owned parking lots and buildings for more showroom space to be built. (Even city hall itself could be on the table.) I guess anything is fair game, to keep the market in town...

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With the Las Vegas show becoming a serious threat, I can imagine they're examining their options to keep the High Point market viable

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I've heard from a normally credible source, that High Point is considering selling some city owned parking lots and buildings for more showroom space to be built. (Even city hall itself could be on the table.) I guess anything is fair game, to keep the market in town...

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Umm, isn't the High Point Market already the biggest in the world? Isn't the reason that High point is losing relevance because of transportation problems, lack of hotels near the venues, and a boring after hours climate?

How does building more showroom space solve any of these problems?

If your source doesn't mind sharing some more, ask them how this would make things better for High Point. I just don't see it.

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Bad news for High Point via Ed Cone. The departure of the furniture market is probably inevitable- just a matter of time.

Excerpt:

Saw your post on Vegas versus High Point and thought I would give you a quick perspective as someone who was in the Vegas facility two weeks ago: It

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Here is an article from the GBJ about the growth of the Vegas Market. I think the High Point Market can remain viable if they are able to keep costs low. Corporate spending for events like these have dwindled significantly.

Story

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http://www.bizjournals.com/triad/stories/2...tml?jst=b_ln_hl

"Harvey Dondero, the CEO of World Market Center, said the success of the show is evidence that the Las Vegas Market will become the dominant international furniture market in the United States."

They just flat out lied. At first they said they had no intensions in competing with High Point. Which I knew they were lying then.

But High Point will be expanding adding more show room space. The big thing is keeping the hotel rates low when the market is in town. I still believe the High Point market will still be the main market. Many cities like Atlanta and Dallas have tried to take the market away and High Point always came on top.

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I'm usually an optimistic person but it's not looking good for High Point. Although it pains me to say this but Vegas will probably surpass the High Point Market. Why I would choose to waste time being bused in from hotels all across the vast triad area? Almost everything in Vegas, the show rooms, hotels, bars/clubs, casinos, restuarants, local attractions, etc. are located on one street. The only thing that High Point has going for it right now is its history in the furniture industry and more show room space. If Vegas has the same amount of space as High Point by 2013 as the article states, Vegas could possible see a much larger crowd.

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Link to the High Point Core City thread.

This has been approved, now HP needs to move on it like death is imminent, because it is costly, ambitious and will take time, and needs to be amended for even greater retail and hotel space than proposed. This will compliment the building of more showroom space mentioned by MZT in the OP.

As pointed out, ultimately Vegas will win this fight because it has decades of hotel and casino building and associated amenities that High Point can not match, but if High Point can delay the "inevitable" by 5 to 10 years via the Core City plan then it and the Triad itself will have added enough population to at least provide more economic support for the added hotel space, arena and retail. The Triad as a whole benefits from the market, WS and GSO need to be thinking cohesively here and jumping in with their weight to help HP, in the form of money, steering events to it, whatever it takes. I'd say the state of NC as well, after all it did set a record for helping Google over a paltry 210 jobs, but not holding breath there.

I think a realistic goal is for HP to be able to hold it's own with Vegas in 5 years, and maybe in 30 years be at a point of stealing it back. The question is, will gambling excursions be so ingrained at the Market by then that HP would have to have this as well?

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Umm, isn't the High Point Market already the biggest in the world? Isn't the reason that High point is losing relevance because of transportation problems, lack of hotels near the venues, and a boring after hours climate?

How does building more showroom space solve any of these problems?

If your source doesn't mind sharing some more, ask them how this would make things better for High Point. I just don't see it.

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Don't know if you have seen this yet. The other showroom is rising on the other side.

vegas07069ap3.jpg

vegas07074rp4.jpg

I hate to see HP lose out but the writing is on the wall. Vegas has been stealing away conventions and shows from communities from around the country. Since Vegas can't home grow its own industry it leeches on to what others have. This place offers what the mass public wants and caters to the "wild" side image that has nothing to do with showing furniture. IMO since more and more furniture is being imported the need for HP to be THE showplace has declined. Although the knowhow is there the lure of Veags is too much to turn away. It makes me :angry: to say that but it is the truth. What really gets me is that to the people here it just another convention. But to people in NC it is a tradition that has been grown and perfected over time. Not just another reason to have hundreds of drunken grown men and women make fools of themselves getting wasted at these tacky clubs and paying way to much to party.

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Attendance at this year's market was down by over 100,000 people compared to last spring. I would say that is significant decrease although I have no idea what the numbers were at the Vegas market.

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