University of Miami

Coral Gables,

Arena Business Plan And Design Consultation

In 1997 B&D was retained to develop a business plan for the University of Miami’s new arena and convocation facility, the Ryder Center. We were responsible for developing a plan to maximize the facility’s versatility as an event venue and thus its revenue-generating potential. In addition, we were asked to advise the university on the financial implications of the full range of potential operating outcomes, from a successful event calendar with strong attendance to a “doomsday” scenario in which the facility would be unable to secure any event activity other than university athletic events. As a result, the facility was designed to serve as the home to the university’s Big East Conference basketball program and a variety of concerts, family entertainment shows, professional/trade shows, and conferences. Our planning and analysis included detailed market research, including interviews with all relevant sports leagues, concert promoters, family show booking agents, and local conference and convention planners in order to identify a market niche in which the arena could realistically compete. In addition to the college basketball market, this niche included serving the smaller concert market and specialized concerts for South Miami’s Spanish-speaking population. After the university approved the business plan, we consulted on the design and construction to insure conformance to its business plan, and then assisted in the selection of a private management company to implement the business plan. The 8,000-seat, 200,000 SF, $48 million BankUnited Center opened in 2003.