Effects of Location on the Performance of Event Halls in Akure, Nigeria

Abstract

Location and its elements such as ease of accessibility, efficiency of movement in terms of cost and time taken are crucial in determining the performance and returns inherent in every commercial investment. As a result, the effects of location on the performance of event halls in Akure were investigated in this study. The study's sampled populations were the 30 owners/managers of event halls in Akure which were stratified based on the income zones into low, medium and high income zones. Data were gathered using structured questionnaires and analysed using descriptive statistics, Trend and Regression Analysis. The findings revealed the price of the event halls in Akure varied between N 80,000 and N 300,000. The results also showed that the income zone, distance to road and capacity of the halls are statistically significant at p value ≤0.05 in affecting the performance of event halls in Akure. The study concluded that location is crucial in enhancing performance and recommended that investors should be encouraged to take into account the placement of the event halls, with a fundamental consideration of the income zone as it influences the performance of the event halls.