MARLTON, N.J. and MIAMI, Nov. 25, 2014 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from the City of Miami Beach to provide owner's representative services in connection with the $500 million renovation and expansion of the Miami Beach Convention Center. The three-and-a-half-year contract has an estimated value to Hill of approximately $4.0 million.
The Miami Beach Convention Center, as originally built in 1957, encompassed 108,000 square feet. Subsequent expansions increased the facility to its current footprint of approximately 1.2 million square feet, including approximately 502,000 square feet of exhibition space and 126,000 square feet of meeting space. The facility currently hosts approximately 145 events annually, including internationally-recognized events such as Art Basel Miami Beach. lt also hosts rotating conventions, meetings and a number of annual trade shows.
The City plans to renovate and expand the Convention Center to "Class A" standards, in a manner that best meets the needs of its target market. The renovation and expansion project includes all exhibit halls, meeting rooms, pre-function, and support spaces such as loading docks, kitchens, bathrooms, MEP systems, and exterior areas. In addition, the facility will be expanded to accommodate a new ballroom and meeting space. The project will also include the conversion of approximately 880 surface parking spaces into a 6.5 acre public park and refurbishment of the Convention Center Drive and the Collins Canal seawall. New parking replacing the existing spaces will be incorporated on the roof of the building.
"We are honored to have been selected for this important assignment," said Stuart S. Richter, Senior Vice President and Southeast/Caribbean Regional Manager for Hill's Project Management Group. "We look forward to achieving all of our client's project objectives," added Richter.
Hill International, with 4,600 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the ninth largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
Corporate Communications
(856) 810-6210
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
(HIL-G)