Meeting Park KLUUVI (Helsinki) closes its operations on February 23, 2024 -
service contracts expire on February 29, 2024
Business Meeting Park Oy Ltd. will cease operations at Meeting Park Kluuvi location in Helsinki, Finland at the end of February 2024. This decision is a result of the significantly increased rents at Kluuvi, coupled with the decline in the vitality of Helsinki's city center, traffic challenges, and the overall economic downturn, making it economically unfeasible to continue our meeting and event business in Kluuvi.
Consequences
February 23, 2024, will be the last day of operations, offering meeting services as usual.
Our team will be in touch with all with all customers with existing reservations beyond February 23, 2024, as well as those with post-address subscriptions, to discuss alternative options. Business operations will continue to thrive at our Kamppi and Ruoholahti locations, and efforts will be made to transfer Kluuvi bookings and customer relationships to these branches.
Venue reservations
Alternative facilities and services in Kamppi or Ruoholahti at a 50% discount will be offered to all customers with reservations in Kluuvi after February 23, 2024. This discount applies to bookings made before January 30, 2024, and cannot be combined with other offers or contract prices.
Virtual post-address customers
All mail arriving at Kluuvi after 23 February 2024 will be redirected to our Kamppi location. Post-address customers in Meeting Park Kluuvi (Kluuvikatu 7, FI-00100 Helsinki), we offer the possibility to transfer their address to Kamppi or Ruoholahti offices. We ask you to make the necessary address changes by/from 1 March 2024 to the post address you have chosen.
Meeting Park KAMPPI
Hotel President building
Salomonkatu 5 C
FI-00100 HELSINKI
Meeting Park OASIS
Ruoholahti metro station building
Itämerenkatu 14
FI-00180 HELSINKI
Background
The recovery of the economy from the pandemic has been slower than expected and the war in Ukraine has pushed the European and Finnish economy into a rapid recession and interest rates have risen. This has been seen e.g. in increased payment delays and record high numbers of bankruptcies.
Despite this, last year Meeting Park's turnover grew by +60% compared to the previous year, to a total of 1.7 million euros, and it is predicted to continue to grow to around 2.6 million euros, despite the termination of Meeting Park Kluuvi. Unfortunately, along with the increase in turnover, accounts receivable, customer payment delays and financing costs have also increased due to the recession and rising interest rates.
The vitality of Helsinki city center has weakened drastically, e.g. as a result of constantly worsening traffic arrangements, which can be seen e.g. in the large number of vacant office spaces (18%), which has led to a decrease in the rent level. However, in the last 13 months, Meeting Park Kluuvi’s rents have risen, at the same time that many companies have received temporary discounts on rents during the crisis. This has further weakened Meeting Park Kluuvi's operating conditions in the city center.
In light of these challenges, we remain focused on enhancing the growth of Meeting Park at our Kamppi and Ruoholahti locations, collaborating with our corporate clients. Even after Kluuvi's closure, Meeting Park offers almost 7,000 m2 of meeting & event spaces right next to the metro stations, for events of up to 600 people.
Finally
All of us, both the owners, the management and the staff, are extremely sorry for this situation, and we apologize for any disruptions and additional challenges caused by the closing of Meeting Park Kluuvi.
More information can be obtained directly from the undersigned on phone number +358 10 5011 510 and by e-mail This email address is being protected from spambots. You need JavaScript enabled to view it..
In Helsinki, January 30, 2024
Business Meeting Park Oy Ltd.
Kare Casals
CEO
