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HomeMy WebLinkAbout06. VLMDACDECEMBERBoardFINALVLMDAC BOARD MEETING DECEMBER 20, 2018 AGENDA / •NOVEMBER 2018 MONTHLY FINANCIAL REPORT, CARLIE SMITH •APPROVAL OF NOVEMBER 15, 2018 MINUTES, BOARD •CIVIC AREA PLAN, MATT GENNETT •VAIL MOUNTAIN DIGITAL CREATIVE ANALYSIS, VAIL MOUNTAIN MARKETING –SOCIAL VIDEOS, DEADLINE MOTION •RRC RESEARCH DETAILS, CACTUS •2018 RESULTS & 2019 KPI’S, CACTUS –OCCUPANCY/ADR LEISURE VS. GROUPS, CHRIS ROMER •OTHER BUSINESS •ADJOURNMENT CIVIC AREA PLAN 2018/19 Civic Area Plan •PROJECT OVERVIEW •THE STUDY AREA •PRIOR PLANNING EFFORTS •THE APPROACH •THE SITE/INGREDIENTS OF A SUCCESSFUL CIVIC AREA •COMMUNITY ENGAGEMENT Project Overview/Need for Plan To guide the future development and use of Town-owned lands within Study Area. Project Overview/Goals •Engage the community to identify opinions for the Civic Area; •Evaluate issues, opportunities, and constraints and identify potential highest and best uses; •Prepare a plan that is viable, economically feasible, reflective of community goals, and responsive to the site and surrounding neighborhood, and •Define strategies for decision-making and the implementation of improvements to the Civic Area. Project Overview/Givens (from RFP) •The Vail Town Council, acting as the VRA and land owner has final decision-making authority; •The Study Area includes properties delineated within the attached map; •The Town of Vail, which largely relies upon visitor-based revenues, seeks to be economically diverse and competitive; •The Dobson Ice Arena, with the possible inclusion of adjoining undeveloped property, could serve a significant role; •Workforce housing remains a high need for the Town of Vail and throughout the community; Project Overview/Givens (from RFP) •Emerging technologies should be employed within the context of the Plan; •Proposed development should be environmental sustainable; •Community engagement tools shall be utilized to foster strong public outreach and citizen participation; •The Lionshead Tax Increment Financing (TIF) District expires June 6, 2030 and revenues from TIF need to be expended by that time; and •TIF revenues could be used to secure a bonds to finance improvements. Study Area LIONSHEAD PARKING STRUCTURE CHARTER BUS LOT DOBSON ARENA VAIL PUBLIC LIBRARY TOWN HALL MIDDLE CREEK COORIDOR W. MEADOW DRIVE/E. LH CIRCLE Prior Planning Efforts Mid 1980’s – Congress Haus Prior Planning Efforts 2000 Vail Town Center •Activity/entertainment – arcade room, bowling alley, amusement rides •Arts/crafts room •Gymnastics facility High tech learning center, meeting rooms •Indoor adventure •Large, convertible event center •Community room •Outdoor ice rink •Regulation size indoor ice rink with seating •Skate •Snack bar •Small community theater/auditorium/ IMAX/dance Prior Planning Efforts 2000 Vail Town Center Prior Planning Efforts 2000 Vail Town Center Prior Planning Efforts 2005 Conference Center Prior Planning Efforts 2007/08 Hillwood/Starwood Prior Planning Efforts LH Transit and Welcome Center The Approach/The Team Project Manager •Matt Gennett Process Committee •Kim Langmaid and Greg Moffet •Ludwig Kurz and Brian Stockmar Consultant Team The Approach •Engage the community, ask questions and listen •Study existing conditions, opportunities and constraints •Test ideas (program, site design, market/economics) •Formulate a plan •Present for community/PEC/TC to review The Approach/Project Schedule The Site The Site The Site Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Ingredients of a Successful Civic Area Community Engagement – Overview of Engagement Strategy “Community engagement tools shall be utilized to foster strong public outreach and citizen participation” Community Engagement – Overview of Engagement Strategy Engage Vail - www.engagevail.com Purpose: Online engagement platform to provide multiple opportunities to participate in the project, provide input, follow project progress, and learn how feedback was used. How you can help/Next Steps 1.Register with Engage Vail, take Civic Uses survey 2.Share link with colleagues, neighbors, friends, Facebook 3.Come to Open House tonight 4.VEAC follow-up in January VAIL MOUNTAIN DIGITAL CREATIVE ANALYSIS & SOCIAL VIDEOS ORGANIC SOCIAL VIDEO EXAMPLES Deadline Motion will share Organic Social Videos produced and distributed this summer. RRC RESEARCH DETAILS, CACTUS 2018 RRC RESEARCH RRC RESEARCH In order to make the RRC findings truly actionable for 2019 and beyond, we have explored the following audience themes in further detail: AREAS OF DEEPER EXPLORATION RRC RESEARCH Destination Families with Teens Front Range vs. Destination First Time vs. Repeat Visitor FRONT RANGE VS. DESTINATION RRC RESEARCH Some of the geographical audience insights reaffirmed our hunches, while others may surprise. Net Promoter Score for both audiences ≈85 Of Destination visitors reported they were staying in a townhome o condo rather than a hotel, vs. 36% for in state visitors Average nights Destination visitors stayed in Vail, vs. 3.5 for in state visitors 55% 8.7 1.4 Times more that in state visitors said they were likely to return, as opposed to Destination visitors. FIRST TIME VS. REPEAT VISITORS RRC RESEARCH 30% of those surveyed were first time visitors to Vail, giving reason for a deeper dive into this audience. Average months ahead of trip that repeat visitors book, but first timers were the most likely audience to book 1-2 months out 3-4 Of first time visitors reported that they would probably return, vs. ≈55% of repeat visitors saying they’ll definitely return First time visitors are the most likely audience to be single with no children 54% #1 7.2 Average number of nights visited by those who have visited Vail in the summer more than once DESTINATION FAMILIES WITH TEENS RRC RESEARCH Net Promoter Score; +11% over the 2017 NPS for this audience 95 Many of our findings in the RRC insight exploration validated our ongoing strategic focus on this primary audience. Average number of people in the party; 1.6 above the overall average In winter visitation crossover, with 67% having previously visited in the winter 6.2 #1 3.5 Lowest satisfaction rating, identifying that the opportunities for peer social activities is a potential area of growth KEY TAKEAWAYS RRC RESEARCH Based on this deeper dive, we’ve identified some actionable insights to carry into the 2019 strategy, messaging, and targeting, such as: •Continue to target Front Range with event specific and retail messaging to deliver on “Why Now?” •Explore additional teen targeting and content •Determine opportunities for cross-seasonal messaging and targeting, given winter visitor overlap •Encourage the development of events and activities that facilitate peer socialization for teens •Investigate opportunities to reach consumers when they’re most active in searching for / booking vacations 2018 RESULTS & 2019 KPI’S OCCUPANCY/ADR LEISURE VS. GROUPS 2018 RESULTS & 2019 KPI’S 2018 OVERVIEW Vail met or outperformed industry averages through early & peak, slightly underperforming in the late season. OCCUPANCY & ADR SUMMARY 2018 RESULTS Month Vail Occupancy Industry Wide Occupancy Difference Vail ADR Industry Wide ADR Difference May 26% 27% -3% $176 $162 8% June 58% 52% 11% $231 $241 -4% July 64% 64% 0% $292 $277 5% Aug. 59% 57% 3% $275 $266 3% Sept. 46% 49% -6% $226 $225 0.5% Oct. 30% 31% -3% $185 $172 7% Total 47.1% 46.7% 1% $231 $224 3% 2018 exemplified the inverse relationship of occupancy and average daily rate. TOTAL OCCUPANCY & ADR 2018 RESULTS Decrease in occupancy over the 2018 season (May – October) Increase in ADR over the 2018 season (May – October) -3% +1.3% TOTAL OCCUPANCY DEMONSTRATES EARLY SEASON STRENGTH 2018 RESULTS Month Summer 2018 % Change (17 - 18) Summer 2017 % Change (16 - 17) Summer 2016 May 26% 5% 25% 4% 24% June 58% 8% 53% -1% 54% July 64% -10% 71% 3% 69% Aug. 59% 1% 59% -2% 60% Sept. 46% -10% 51% -3% 52% Oct. 30% -13% 34% 1% 34% Total 47.1% -3% 48.8% 0% 49% TOTAL ADR CONTINUES TO RISE THROUGH 2018 SEASON 2018 RESULTS Month Summer 2018 % Change (17 - 18) Summer 2017 % Change (16 - 17) Summer 2016 May $176 -8% $192 27% $151 June $231 2% $226 10% $206 July $292 4% $281 7% $263 Aug. $275 5% $261 2% $255 Sept. $226 2% $221 7% $206 Oct. $185 -2% $188 9% $172 Total $231 1.32% $228 2.70% $222 Leisure metrics experienced inconsistency over the season, causing slight decreases in the seasonal Occupancy and ADR compared to 2017. LEISURE OCCUPANCY & ADR 2018 RESULTS Decrease in occupancy from the 2017 season Decrease in ADR from the 2017 season -3% -3.5% LEISURE OCCUPANCY ECHOES EARLY SEASON STRENGTH 2018 RESULTS Month Summer 2018 % Change (17 - 18) Summer 2017 % Change (16 - 17) Summer 2016 May 17% 13% 15% 7% 14% June 39% 34% 29% 16% 25% July 47% -4% 49% 2% 48% Aug. 36% -10% 40% 0% 40% Sept. 23% -23% 30% 3% 29% Oct. 14% -26% 19% -10% 21% Total 29.3% -3% 30.3% 3% 29.5% LEISURE ADR DIPS IN EARLY SEASON WITH STRENGTH IN PEAK 2018 RESULTS Month Summer 2018 % Change (17 - 18) Summer 2017 % Change (16 - 17) Summer 2016 May $207 -20% $260 71% $152 June $261 -7% $280 12% $250 July $337 3% $328 10% $299 Aug. $331 0% $330 11% $298 Sept. $269 -2% $273 7% $256 Oct. $230 0% $229 11% $207 Total $273 -3.5% $283 16% $244 2018 Group results echoed the trends in total occupancy and average daily rate. GROUP OCCUPANCY & ADR 2018 RESULTS Decrease in group occupancy from the 2017 season. Increase in group average daily rate from the 2017 season. -7% +1% OCCUPANCY REFLECTS YOY DECREASE BUT IS NOT CONSISTENT GROUP Month Summer 2018 % Change (17 - 18) Summer 2017 % Change (16 - 17) Summer 2016 May 14% 8% 13% -19% $159 June 28% -18% 34% -11% $191 July 25% -24% 33% 14% $254 Aug. 32% 10% 29% -3% $251 Sept. 29% -3% 30% -3% $199 Oct. 21% -5% 22% 22% $156 Total 24.8% -7% 26.8% -1% $202 ADR SHOWS AN INCREASE IN 2018 GROUP RESULTS Month Summer 2018 % Change (17 - 18) Summer 2017 % Change (16 - 17) Summer 2016 May $157 4% $151 -5% $159 June $209 1.5% $209 7.9% $191 July $257 0% $257 1.2% $254 Aug. $252 -2.3% $258 2.8% $251 Sept. $217 5.3% $206 3.5% $199 Oct. $168 -1.2% $170 9% $156 Total $210 1% $208 3% $202 GROUP Review of the goals and indicators we will continue to track against. Next Steps: The board will finalize and confirm these key performance indicators during (or prior to) the January board meeting. 2019 KPIS 2019 PLANNING May – October Timeframe 2014 Baseline 2014-2018 Goals Net Growth 2014- 2017 Results Trend 2019 Goals Sales Tax $7,000,000 0.15 20% 4% Lodging Tax $645,892 NA 27% 5% Overall Summer Occupancy 43% 0.1 49% Discussion Group Occupancy 8,570 0.2 33% 5% 2019 GOALS 2019 PLANNING May – October Timeframe 2014 Baseline 5 Year Goals 2014-2017 Results Trend 2019 Goals Out of State Overnight Visits 55% 0.65 53% 55% International Visits 9% 0.15 6% 7% In State Visits 18% 0.25 19% 20% Consideration 55 0.08 -15% TBD Net Promoter Score 75% Plus 10 pts. Plus 1 pt. 73% (web); 87% (on site) 2019 INDICATORS 2019 PLANNING 2018 CAMPAIGN AT A GLANCE 2018 RESULTS 2018 2017 2016 Sales Tax Revenue $9,540,281 $8,541,471 $8,132,456 Lodging Tax Revenue $991,126 $829,992 $760,914 Total Occupancy 47.1% 48.8% 49% Total Average Daily Rate $231 $228 $222 FIT Occupancy 29.3% 30.3% 29.5% FIT Average Daily Rate $273 $283 $244 Group Occupancy 24.8% 26.8% 27% Group Average Daily Rate $210 $208 $202 Paid Media Budget $1,024,359 $1,197,348 $1,020,935 Paid Media Impressions Delivered 61M 79M 97M *all figures are 5/1 – 10/31 QUESTIONS? THANK YOU!! Upcoming Meetings: VLMDAC Meeting, January 17, 8:30am – 11:30am; Grand View Room