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- More than half of Americans have attended a music festival, indicating lucrative potential for music and art destinations
- GTVH recently closed on the acquisition of ABI Create, a premier event-management and production company
- With the invaluable resources ABI Create brings to the table, the future of Destino Ranch looks more promising than ever
With Coachella still fresh in music lovers’ memories, it’s only natural to look at what other amazing music festivals might be looming in the future. Destino Ranch comes to mind. A new project focused on becoming an international destination where nature and technology combine to create unforgettable experiences such as outstanding music festivals, Destino Ranch is being developed by Golden Triangle Ventures (OTC: GTVH) and its entertainment division, Lavish Entertainment.
Officially called the Coachella Valley Music and Arts Festival, Coachella is held over two weekends at the Empire Polo Club in Indio, California, in the Coachella Valley in the Colorado Desert. The event traditionally features an array of musical artists from different music genres, including rock, pop, indie, hip hop and more; the festival also includes art installations and sculptures.
This year, Coachella saw record attendance, with organizers reporting an estimated 300,000 people flocking to Indio (https://cnw.fm/kBJIS). In addition, Coachella’s revenue is impressive, bringing in $115 million collectively from ticket, food and beverage sales and generating around $700 million for the local economy in Indio and surrounding cities each year (https://cnw.fm/t2t9R).
There’s definitely an eager audience for events such as music and art festivals. In fact, a Marketing Chart study reported that “overall, roughly one-third (34%) of American adults surveyed report having been to more than one music festival, while an additional fifth (20%) say they’ve been once. As such, some 54% of U.S. adults have been to at least one music festival” (https://cnw.fm/gphBd).
Clearly, Golden Triangle Ventures and Lavish Entertainment are on to something. Most recently the company took a significant step forward in the development of Destino Ranch with the acquisition of ABI Create, a premier event-management and production company (https://cnw.fm/QmBvF). Founded by Marco Antonio Moreno, who was recently named president and COO of Lavish Entertainment, ABI Create has delivered high-quality productions for a range of large-scale installations at major music festivals, sporting events and conventions across the United States, including the NFL Super Bowl, San Diego and New York Comic Con events, EDC and Camp EDC, Bonnaroo Music Festival, the Waste Management Phoenix Open, Arnold Palmer Invitational, Burning Man and more.
The completed acquisition will transition ABI Create into a wholly owned subsidiary of Lavish Entertainment, strengthening Lavish’s position in the entertainment industry through ABI’s well-known reputation and proven track record of executing high-level projects. Headquartered in Las Vegas, ABI’s comprehensive suite of services includes event organization, management, production, logistics, site planning, permitting, construction, contracting, custom design and fabrication.
With the invaluable resources ABI Create brings to the table, the future of Destino Ranch looks more promising than ever. With access to nearly 22,000 visitors traveling through the area every day, the ranch could quickly become a modern art and music festival mecca. In fact, current plans call for the destination location to include an immersive, world-class art installation gallery with rotating exhibits as well as a large-scale music venue with state-of-the-art staging and production, all carefully designed to complement the beautiful natural attributes of the surrounding Mojave Desert.
“This acquisition of ABI Create sets the stage for us to begin showcasing all other synergistic divisions within Lavish that will support all resources, relationships and partnerships within the ABI portfolio of offerings,” said Steffan Dalsgaard, CEO of Golden Triangle Ventures. “Our goal is to develop ABI into a one-stop-shop, event-management business within Lavish that will hold a complete suite of event management and development services. This aims to complement all internal projects and productions and will potentially support outside business opportunities that can provide fundamental synergies to our ultimate plan of building a complete entertainment enterprise.”
Golden Triangle Ventures is a multifaceted consulting company that operates as a parent business pursuing ventures in the health, entertainment and technology sectors, as represented by the three-point golden triangle, along with other sectors that provide synergistic value to these three core divisions. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services.
For more information, visit the company’s website at www.GoldenTriangleInc.com.
NOTE TO INVESTORS: The latest news and updates relating to GTVH are available in the company’s newsroom at https://cnw.fm/GTVH
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