Richmond Coliseum

Richmond,

Coliseum Market Analysis

In January 2001, B&D, along with sub-consultant Ellerbe Becket, was retained by the City of Richmond to conduct a market analysis for the Richmond Coliseum. The city required that the study include a detailed market analysis involving assessment of the existing facility, revenue potential of the current coliseum, and the development of market projections and facility improvement concepts. We proposed several options for the city to pursue, including an increase in marketing efforts, facility enhancements, and the construction of a new coliseum. It was recommended that the city enhance the current Richmond Coliseum with the addition of luxury suites and club seats. In addition, the city could increase revenues by pursuing a naming rights deal for the coliseum, increasing ancillary income through improved marketing and concessions sales, and pursuing a third anchor tenant to fill out its event calendar. The ensuing $3.9 million Richmond Coliseum renovation was completed in May 2005 and included new concert space, a new basketball court, and upgraded VIP suites and lounges.