Thinking of Buying a Function Centre in Australia? Here Are 3 Vital Questions to Ask

Australia’s exhibition, conference and function centres generate $13.7 billion in annual revenue, with 2,191 enterprises and 65,092 workers nationwide.

Industry profit margins average 12.4 percent, supported by venue hire, catering, accommodation, ticketing, and premium onsite services. Revenue is projected to grow 3.2 percent per year to reach $16.0 billion by 2029, driven by the resurgence of in person events, rising business tourism, and continued use of hybrid physical and digital formats.

1. Is the Function Centre Financially Sustainable Across Changing Event Demand?

Why It Matters:

Function centres were heavily affected by pandemic shutdowns, border closures and event cancellations. While recovery is well underway, the industry still faces fluctuating business visitor numbers, labour shortages and higher operating costs. Your assessment should confirm whether the business has truly regained consistent event volume.

What to Check:

• Revenue trends before, during and after the pandemic to ensure performance is stabilising.

• Margin performance compared with the 12.4 percent industry average, noting rising insurance, labour and utilities costs.

• Revenue diversity across venue hire, catering, and auxiliary services, which together form the bulk of earnings.

• Ability to manage hybrid events effectively, as these formats now form a permanent part of the industry.

• Existing contracts with corporations, event organisers and associations that deliver reliable recurring bookings.

2. How Competitive and Well Positioned Is the Centre in Its Local Market?

Why It Matters:

Competition has intensified as non traditional venues such as museums, hotels, wineries, pubs and art galleries take a greater share of corporate and private events. Location, technology capability and venue flexibility are major differentiators.

What to Check:

• Location strength and accessibility, including proximity to transport, parking and accommodation.

• Size, floorplan flexibility and ability to host multiple event formats (corporate, weddings, trade shows, hybrid).

• Quality of audiovisual and digital infrastructure, which has become a core selection factor for corporate clients.

• Competitive presence of other regional function spaces and hotels with event capability.

• Strength of relationships with suppliers including caterers, AV technicians and event planners.

3. Is the Business Positioned for Future Trends in Events and Conferences?

Why It Matters:

The industry is increasingly shaped by hybrid technology, sustainability expectations, rising business travel and changing client preferences. Centres that invest in digital capability and customer experience will outperform those relying on traditional formats.

What to Check:

• Technology readiness for livestreaming, hybrid participation, remote keynote delivery and digital ticketing.

• Environmental credentials such as waste reduction, energy efficient operations or sustainable catering options.

• Ability to attract corporate and association clients, which comprise over 70 percent of market demand.

• Flexibility to scale event sizes rapidly as demand grows, particularly in states like Victoria and New South Wales.

• Strategies to compete with interstate and international venues offering lower cost or larger formats.

Ready to Invest in a Thriving Function Centre Business?

With the return of business tourism, strong corporate event demand and strong long term growth forecasts, Australian function centres offer attractive investment potential. Success depends on technology readiness, venue flexibility and the ability to deliver premium in person and hybrid experiences for a broad range of clients.

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