Cité du Vin

Budget balanced after first year of trading

Saturday June 10 2017 by Alexandre Abellan

A year after it was officially opened, the Bordeaux wine tourism centre has issued figures that endorse its business model.

With 425,000 paying visitors generating turnover of 7.5 million euros, the Foundation for Wine Culture and Civilisation is extremely proud to announce that after a year of trading, the Cité du Vin has balanced its budget. “Our objective is to increase visitor numbers but the most important thing is to ensure that revenue is higher than expenditure”, announced Philippe Massol, director of the Cité du Vin, on June 6 at a press conference in Bordeaux.

Sponsorship funds 10%

Although 10% of revenue from the wine tourism facilities is provided by sponsors, staff nevertheless point to the fact that 90% of business stems from the centre’s activities, not only visits but also private functions and even the shop which generate 10 and 8% of turnover respectively. After rising to the challenge of becoming financially independent within its first year of trading, the Cité du Vin intends to remain so by boosting visitor numbers. This implies sustaining the same momentum over time.

The project has now become a reality and takes people by surprise. They don’t expect anything this fun”, stressed Sylvie Cazes who also commented that the wine industry at large should grasp the full implications of the centre. “The industry was afraid that there would be much talk of Bordeaux and little of other wines. But they are all there, part of a universal culture”. According to the latest Kedge survey, 7% of visitors work in the wine industry.

LEAVE A COMMENT

Processing

COMMENTS

No comments yet.

© Vitisphere 2018 - Tout droit réservé