ABSTRACT
ABSTRACT: This study found that any proposed revitalization strategy through outsourcing of venue management must be subject to proper feasibility studies and negotiations. Public departments shall refer to the “profitability” and “economic benefits” of the public facilities to formulate various tendering criteria. Private entities, on the other hand, must determine whether these tendering criteria would be compliant to their investment expectations and “financial benefits”. Under reasonable “financial benefits”, feasibility studies and negotiations shall then be carried out in order to determine whether the revitalization strategy of the public facility is capable of complying with the features of the public facilities and the objectives of providing socio-economic and public benefits.
