Tuesday, May 17, 2011

Picasso Adds His Flourish to the Bottom Line

According to a May 17, 2011 Richmond BizSense article, more than a quarter-million people came through the Virginia Museum of Fine Arts to see a rare collection of Pablo Picasso works. The month-long exhibit, which ended Sunday, was a major boost to the local hospitality industry, filling hotel rooms and bringing out-of-town spenders to local restaurants and shops.

The Jefferson Hotel, for example, said it booked 1,600 guests who were heading to the museum.

Alex Nyerges, the museum’s director, said the Picasso exhibit sold more than 229,000 tickets, which was more than the 200,000 the museum expected.

Nyerges said the museum sold $2.6 million in tickets for the Picasso exhibit and sold close to a half million in memberships. Nyerges also said that the Picasso exit store, a gift shop, did $1.4 million in sales over a three-month period.

To read the full Richmond BizSense article, please click here.