Exhibitors sign up despite increase in space rental
Posted By: Furniture Reporter // Category: NewsCEBU CITY – Despite an earlier announcement that rental rates for this year’s Cebu International Furniture and Furnishings Exhibition (Cebu X) has increased, the exhibit continues to gain more participants.
Ruby Salutan, executive director of Cebu Furniture Industries Foundation Inc. (CFIF), which organizes the annual event, said that at present, some 45 companies have confirmed their attendance, while 11 more have made reservations for exhibit space to the 2009 Cebu X on March 5 to 8.
“It seems that the five-percent increase in exhibit rates imposed by CFIF has not discouraged our members to set up their booths. There are even companies that have registered for two to four booths,” she said.
CFIF data revealed that occupancy rate for Cebu X 2009 is already at 65 percent, excluding reserved spaces.
There were only 83 participants to last year’s event, a 17-percent drop in the number of exhibitors compared to 2007.
Salutan has attributed the decrease to the industry setback players experienced in 2007 where the United States dollar weakened against the peso and the demand for local exports declined.
Meanwhile, Cebu X 2009 will feature 119 booths from different furniture and furnishing manufacturers in Cebu, which will be held at the Waterfront Cebu City Hotel and Casino.
Allan Murillo, Cebu X 2009 chairman, said the organizers are likely to hit a 100-percent occupancy rate as optimism towards the global economy seems to be the general sentiment of players for this year.
“Players are beginning to be more involved. They are starting to realize the importance of competitiveness amid the crisis,” he said.
Murillo said the five-percent rental rate increase was deemed necessary as CFIF anticipated fewer event sponsors this year.
Salutan also bared that this year’s Cebu X has captured 153 pre-registered buyers coming from the international market.
Forty-three student designers from four different schools will also join the event, Salutan said. (Malou M. Mozo)
source: http://www.mb.com.ph/PROV20090111145321.html
