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Home My WebLink About00. VLMDAC September Meeting PresentationVAIL LOCAL MARKETING DISTRICT MEETING SEPTEMBER 20, 2018 AGENDA / •August 2018 Monthly Financial Report, Carlie •Approval of August 23, 2018 Minutes, Board •Vote & Appointment of VLMDAC Treasures, Board •Bravo! Vail Presentation, Ronda Helton & Carly West •Vail Brand Alignment Discussion, Cactus •Review of 2019 Proposed Plan & Budget, Cactus, SITE & Board •Discussion of MTS RFP, Mia Vlaar & Chris Romer BRAVO! VAIL PRESENTATION BRAVO! VAIL: 2019 TOSCA & CHAMBER ORCHESTRA VIENNA–BERLIN VLMDAC | SEPTEMBER 20, 2018 PUCCINI’S TOSCA BRAVO! VAIL’S DEBUT OPERA PRODUCTION: PUCCINI’S TOSCA Bravo! is embarking on an exciting new project: The Philadelphia Orchestra, under the direction of Music Director Yannick Nézet-Séguin, will be presenting Tosca—one of the finest Italian operas—during their 2019 residency. •Two performances of the production: July 11 & 13, 2019. •The project is led by Music Director Yannick Nézet-Séguin, one of the world’s leading opera conductors. •The performance will feature an all-star cast of international opera singers. •This production signifies a historical moment for Bravo! Vail to embark on an artistic project of this magnitude. TRANSFORMING THE AMPHITHEATER A dramatic set combining platforms, props, and two giant LED screens mounted on the walls that flank the stage will transform the amphitheater into 19th century Rome. The conductor’s podium will be raised and thrust outward from the stage toward the audience, freeing the front of the stage for the fully costumed cast and two choruses as they bring Puccini’s opera vividly to life, from its suspenseful beginning to its tragic end. He is the Music Director of the Philadelphia Orchestra, and recently named Music Director of the Metropolitan Opera—two of the world’s pre-eminent artistic organizations. YANNICK NÉZET-SÉGUIN “unquestionably one of the world’s top five most exciting conductors” —BBC Magazine “phenomenal” —New York Times Yannick Nézet-Séguin is one of the world’s leading opera conductors. Nézet-Séguin’s status in the music world is unparalleled, and it is significant to have his artistic energy at Bravo! Vail. CHAMBER ORCHESTRA VIENNA–BERLIN Bravo! Vail is thrilled to present the North American debut of the Chamber Orchestra Vienna–Berlin, a unique collaboration of two of the world’s most prestigious ensembles: the Vienna and Berlin Philharmonic Orchestras. •This group of acclaimed artists make their North American debut here at Bravo! Vail. •The ensemble kicks-off the 2019 season with a three-concert residency: June 20, 22 & 23. •Anne-Sophie Mutter—universally considered to be one of the greatest violinists of modern times—will join the ensemble in two of the performances. VAIL BRAND ALIGNMENT DISCUSSION, CACTUS ANNUAL VAIL BRAND REVIEW 2019 PROPOSED PLAN & BUDGET, CACTUS, SITE & BOARD TOWN COUNCIL 2019 VLMDAC OPERATING PLAN & BUDGET SEPTEMBER 18, 2018 AGENDA / •GOALS & RESULTS •VLMD 2019 STRATEGIES & BUDGET •DISCUSSION GOALS & RESULTS Objectives: Specific direction for how we will reach our goals. DEFINITIONS / Goals: The ultimate results we are hoping to achieve. Strategies: Means we will employ to achieve our goals and objectives. Indicators: How we measure the success of our objectives. Strengthen Vail’s position as a year-round destination that appeals to a broad audience, by elevating the summer brand position. VLMDAC OVERARCHING GOAL / 5 YEAR GOALS VS. 2014 – 2017 RESULTS / Sources 2014 Baseline 2014-2018 Goals Net Growth 2014-2017 Trend Results* Sales Tax (May – Oct) TOV $7,000,000 +15% +20% ↑ Lodging Tax (May – Oct) TOV $645,892 New goal +27% ↑ Overall Summer Occupancy Inntopia 43% +10% 49% ↔ Group Occupancy (May – Oct Room Nights) VVP 6,606 +20% -7% *NOTE: 5th Year Results to be updated with 2018 after completion of summer Groups on the books May – October 2018 +106% from 2017 GOALS & INDICATORS / 2014 – 2017 RESULTS ACTUALS BY YEAR Sources 2014 Baseline 2015 Results 2016 Results 2017 Results Sales Tax (May – Oct) TOV $7,000,00 0 $7,560,000 $8,141,190 $8,370,154 Lodging Tax (May – Oct) TOV $645,892 $711,854 $769,299 $822,825 Overall Summer Occupancy Inntopia 43% 42% 53% 49% Group Occupancy (May - Oct Room Nights) VVP 6,606 4,077 6,453 6,096 Out of State Overnight Visits Intercept 55% 58% 54% 53% International Visits Intercept 9% 9% 5% 6% In State Visits (Overnight) Intercept 18% 19% 25% 19% Consideration Burke 55 55 NA 47 Net Promoter Score Intercept 75 84 80 76 (web) 83 (on site) •Increase YOY sales tax revenue •Increase YOY lodging tax revenue 2019 PRELIMINARY GOALS / Sources 2014 Baseline 2014-2018 Goals Net Growth 2014-2017 2019 Goals (Preliminary) Results* Sales Tax TOV $7,000,000 +15% +20% +3% Lodging Tax TOV $645,892 N/A +27% +5% Overall Occupancy Inntopia 43% +10% 49% +3% Group Occupancy (May – Oct Room Nights) VVP 6,606 +20% -7% +5% •Increase YOY overall occupancy •Increase YOY group occupancy *NOTE: 5th Year Results to be updated with 2018 after completion of summer Groups through May – October 2018 +106% 2019 STRATEGIES & BUDGET •Brand: Strengthen Vail’s brand position as the world’s premier mountain resort by constantly elevating our industry leadership and tradition of excellence •Storytelling: Develop compelling and consumer-centric stories to bring the Vail brand to life throughout the decision making/purchase funnel •Data: Continue to understand and use our summer research and data to impact awareness, consideration, and conversion •Focus: Continue to target personas that are most likely to consider and convert 2019 STRATEGIES / PRIORITIES THAT EFFORTS MUST DELIVER AUDIENCES / Destination Dynamic Families w/ Teens Front Range (All Personas) Destination + Front Range Super Boomers DESTINATION DYNAMIC FAMILIES WITH KIDS 13-17 / •Tend to stay longer, bring more people and in turn spend more for lodging and activities. •84% stay 3+ nights •Most likely to have 8+ people •Experience is catered towards older children and there is a strong affinity for Vail amongst this audience •Reported a higher NPS •Most likely to return of all audiences •Children aged 13-17 are also a targetable audience •Competitors are not marketing to this audience RRC, 2017 DESTINATION AND FRONT RANGE SUPER BOOMERS / •Most likely destination travelers that stay longer. •81% were overnight visitors from out of state •Slightly ahead of families in terms of length of stay •Travel during off peak times to take advantage of value and less crowds •Baby boomers prefer to travel during spring or summer, with fall only slightly less •Retirees have the luxury of traveling when they can find a good rate •Top digital media performer for Fall and mid week in 2017 RRC, 2017; AARP 2017 FRONT RANGE (ALL PERSONAS) / •Target Dynamic Family with Teens, Active Professionals and Super Boomers as appropriate by event message •70% of summer visitation is from the Front Range •Event marketing provides a reason to drive urgency •General awareness keeps Vail top of mind RRC, 2017 2019 BUDGET / $3.3 MILLION The 2019 proposed budget fulfills a 10% (-$300,000) YOY decrease in overall budget. •Strategy has remained intact •Decreases achieved through efficiencies and highly focused approach Drive Overnight & Out-of-state Visitation Strategy Branding Research Photo/Video Fees 2019: $3.3 Million YOY BUDGET BREAKOUT / 2019 VS. 2018 Drive Overnight & Out-of-state Visitation 71% Destination FR Overnight International Web/CRM/Social Public Relations Groups 41% 14% 7% 29% 5% 4% Strategy Branding Research Photo/Video Fees 29% 75% Destination FR Overnight International Web/CRM/Social Public Relations Groups 47% 8% 8% 28% 3% 5% 25% 2018: $3.6 Million 2019 BUDGET SHIFTS / SAVINGS •PROFESSIONAL FEES: •Efficiencies and reduced scopes of work across partners for reductions •BRANDING AND STRATEGIC PLANNING: •Continuation of current strategy and creative campaign •ASSET CAPTURE: •Streamlining TV/video productions and asset gathering •Capitalizing on 2017/18 asset capture •MEDIA: •Continued focus and refinement of messaging and targets in need time periods •Reduction in Vail App marketing support •INFLUENCER: •Leverage efficiencies discovered in 2018. This includes utilizing existing resources to track influencer performance as opposed to using a managed platform. 2019 BUDGET SHIFTS / SAVINGS •PUBLIC RELATIONS •Expenses decreased and reduction in in-market visits from 3 to 2 •WEB •Reduced website fees with the launch of responsive site complete; maintenance mode •Rightsizing branded search terms based on summer learnings •INTERNATIONAL EFFORTS •Sales, marketing and PR effort reduced to sole focus of Mexico •RESEARCH •Elimination of Inntopia multi-destination comparison report •Refinement of 2019 Burke Brand Research methodology to better address our media targeting and more accurately measure Awareness, Consideration, and Conversion funnel metrics •GROUPS •Reduced direct sales fees •Reduced event recruiting fees 2019 BUDGET SHIFTS / ADDITIONS •BRANDING AND STRATEGIC PLANNING: •Addition of discovery line item to explore and streamline research initiatives and build VLMDAC database program •WEB/SOCIAL/EMAIL: •Addition of long format organic social video asset capture and production •GROUPS •Added Knowland database (national group & meeting CRM tool) •Added ConventionPlanIt.com lead generation platform •RESEARCH •Burke Brand Research to be conducted in 2019 •EVENT: •$200K in Colorado Classic event support 2019 VS. 2018 BUDGET COMPARISON / Budget by Category 2018 BUDGET % of Budget 2019 BUDGET % of Budget % Change YOY Destination Efforts $1,035,782 29% $968,560 29% -6.5% Front Range $358,114 10% $329,689 10% -8% International $226,552 6% $175,000 5% -23% Branding/Production $146,000 4% $109,400 3% -25% Groups $756,375 21% $680,738 21% -10% PR $85,200 2% $75,500 2% -11% Research $84,365 2% $120,929 4% +43% Photo/Video $98,000 3% $124,100 4% +27% Professional fees $359,960 10% $336,800 10% -6.5% Web/Email/Social $225,200 6% $154,284 5% -31% Event Support $225,000 7% $225,000 7% 0% TOTALS $3,600,000 $3,300,000 -8% 2019 MARKETING TIMELINE / 2018 2019 September October November December January February March April -9/18: Town Council Presentation -9/20: VLMD monthly meeting -Finalize Goals based on 2018 results -Continue to refine budget based on year-end results -Review and apply insights from YOY results and research -Develop specific objectives & tactical plans for how we will reach our goals -Present media strategy -Develop & update brand creative for 2019 season -Present creative & begin production -Present detailed media plan -Final production and trafficking -Creative in- market according to tactical plan DISCUSSION OF MTS RFP, MIA VLAAR & CHRIS ROMER THANK YOU! Upcoming Meetings: VLMDAC Monthly Meeting, Thursday, October 18, 8:30 – 11:00am, Grand View Room 2019 Budget Resolution, Town Council Meeting, November XX, Council Chambers APPENDIX BRAND VISION The core of what our brand represents and promises to deliver to our guests. Like nothing on earth. The World’s Premier Mountain Resort. BRAND POSITION [Strategic Imperative] Strategic position of the brand relative to the competition. BRAND PILLARS The foundational truths that define, guide and bring the brand to life. W Vail was born from a dream, and built with a vision of excellence. The same pioneering spirit with which we were founded and purposefully built, continues to drive us forward. We carry on the tradition of pursuing excellence, in order to hand down a legacy as distinctive and visionary as the one handed to us. LEGACY TIMELESS PURSUIT OF EXCELLENCE LEADER ENDURING SPIRIT OF INNOVATION Always looking forward, we don’t hold on to the past, we build upon it. Like our founders who taught us how to lead, we blaze our own trail and set the standard so that we always shape the industry. It is not in us to settle, instead we break the status quo and rethink what is possible. Vail is an aspiration unrestrained by boundaries, and earthly limitations. More than a place, Vail transcends cultures and generations. From the vastness of the Back Bowls to the vibrant villages, to be a part of Vail is to feel endless possibility and discover lasting moments that invigorate you Like nothing on earth. LIMITLESS EXPERIENCES THAT TRANSCEND POSSIBILITY