Monday, September 09, 2013

From the Commercial Observer: "Barclays Center Seeks Second-Year ‘Efficiencies’"

My article in the Commercial Observer:
The busy Barclays Center in Brooklyn may have earned steady revenue in its first year, but the cost of running the building to ensure a good customer experience means a “slower-than-expected ramp-up” and a drag on Forest City Enterprises operating margins, officials said this morning.

Coming soon are some “efficiencies,” yet unspecified, but likely involving staff, given previous statements that start-up staffing was higher than anticipated over the long-term. “We have, with the arena management, come up with ways to keep the service level but drive the efficiencies at multiple areas within the building,” MaryAnne Gilmartin, CEO of subsidiary Forest City Ratner, told investment analysts during a conference call this morning to discuss second-quarter results.
For the rest of the story, click here.

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