ST Media Group International (ST Media) and Hospitality Media Group (HMG) on Wednesday announced the sale of Boutique Design New York (BDNY) and related assets to Emerald Expositions Events, Inc. (NYSE:EEX) (Emerald), a leading U.S. business-to-business trade show, event and conference producer.
Now in its ninth year, BDNY is a leading trade show and conference for boutique hospitality design professionals, primarily serving the eastern United States, Canada and Europe. BDNY has been recognized among the fastest-growing trade shows in the U.S. for the past five years and was ranked the 145th largest U.S. trade show by Trade Show News Network in 2017.
Presented annually in November at New York City’s Javits Center, BDNY showcases high-end, unique and innovative design products for the hospitality industry. The two-day show brings more than 8,000 interior designers, architects, purchasing agents and hospitality property owners and developers together with over 750 manufacturers and marketers of exceptional design elements for hospitality interiors.
In addition to BDNY, Emerald is acquiring the BDwest and HX: The Hotel Experience trade shows, Hospitality Match, Senior Lifestyle Design Match and the Forum Series events, and Boutique Design, the partner magazine to BDNY. Members of the ST Media and HMG teams will join Emerald, including Michelle Finn, formerly President of HMG and Senior Vice President of ST Media. Ms. Finn will report to Joe Randall, Executive Vice President Emerald Expositions, as Vice President of Boutique Design.
Mr. Randall commented, “We are delighted to add BDNY and related products to our existing portfolio of leading hospitality brands, which includes Hospitality Design, Kitchen & Bath Industry Show, Healthcare Design, International Contemporary Furniture Fair, Environments for Aging and HotelPoint. We have tracked the emergence of the BDNY brand and have been extremely impressed
by its quality and growth under Michelle’s leadership, and the unique value proposition that she and her team have created. We look forward to supporting its future development and leveraging our broad footprint in the hospitality market for the benefit of all industry participants.”
David Loechner, Emerald’s President and CEO added, “With the purchase of this highly attractive and complementary set of brands, our acquisitions spend so far in 2018 has exceeded $70 million, which is consistent with the range of our annual investment levels over the last few years. We remain committed to our successful strategy of deploying Emerald’s strong cash flows on attractive
assets that diversify and strengthen our portfolio while also helping to accelerate our growth. Looking forward, the B2B trade show market remains highly fragmented with numerous acquisition candidates that fit our stringent criteria, and we will continue to leverage our leading market position as we execute our strategy of growing our portfolio through accretive acquisitions.”
“Emerald is the natural and logical home for BDNY and the other assets that we are selling,” said Tedd Swormstedt, ST Media’s President. “I am confident that the resources, scale, industry knowledge and strong team at Emerald will help secure their future growth and continued relevance in the hospitality market.