By Paul Colston
City of Glendale (AZ) officials have approved a new long-term lease agreement and $40 million renovation plan with ASM Global –the world’s largest venue management company – for its Desert Diamond Arena. The aim is to increase the Arizona, USA venue’s fiscal returns and prominence as a key element in the city’s growth as a national entertainment hub.
ASM Global has successfully operated the city-owned venue for the past six and one-half years and 2022 
marked Desert Diamond Arena’s best financial performance in 17 years. Management expects 2023’s figures to surpass the 2022 fiscal record.
“This agreement demonstrates that ASM Global, an internationally recognized leader in arena and venue management, is aligned with our belief about the tremendous future for our ever-expanding Sports and Entertainment District,” said Glendale City manager Kevin Phelps.
ASM Global president and CEO Ron Bension said: “We passionately believe in Glendale and Desert Diamond’s potential to live up to its name as a diamond in the entertainment sphere. The area’s track record of hosting spectacular events – like the Super Bowl – can grow even more to enrich the community. We’re looking forward to further leverage our worldwide expertise in this market.”
Utilizing its global relationships in content, programming, planning, technology, sustainability, and guest safety, ASM Global will partner to fund renovation plans to enhance the guest, artist, and athlete experience at Desert Diamond. The Glendale site is part of ASM Global’s network of more than 350 venues around the world that host 20,000 events and welcome 165 million guests every year.
HOK has been selected to help with the renovation and design.
The new agreement includes a lease/buy option for ASM.
Paul Colston is Managing Editor, Conference News & Conference & Meetings World.
