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HomeMy WebLinkAbout2014_04_02 Taste of Vail RFP   Page 1 of 21 www.tasteofvail.com 10/17/2012   Taste of Vail Address: PO Box 5663 Vail, CO 81658 Date of Event: April 2 through April 5 2014 Funding Request for the 24th Taste of Vail $70,000 Producing Entities 1. Angela Mueller Executive Director 2. Angela Mueller 3. Address: a. Physical: 953 S Frontage Road Ste 203 Vail, CO 81657 b. Mailing: PO Box 5663 Vail, CO 81658 Contact information Cell 970-401-3320 E-mail info@tasteofvail.com 5. Website: tasteofvail.com 6. The Taste of Vail has occurred for 24 years.   Page 2 of 21 www.tasteofvail.com 10/17/2012   7. Mission Statement: The Taste of Vail’s goal is to enhance Vail’s image. Our goal is to increase Vail’s reputation as a world-class international resort with a serious commitment to fine food and wine and to promote recognition of the Vail life style. The event offers a variety of experiences on the streets of Vail, on the mountain, in restaurants and hotels. We enhance each participant’s knowledge and enjoyment of the Vail experience. 8. Tax Status: Non Profit 501(C)(7) (Form attached) Tax Payer ID #: 84-1163714 The funds from Taste of Vail will be reinvested to bring events and marketing to town for the Culinary Community Event Description: 1. Taste of Vail is a celebration of the outstanding food, wine, and culture that is abundant in beautiful Vail, Colorado. Events will be held on Vail Mountain, Gore Creek Drive, Meadow Drive, Lionshead/Arrabelle and with many Taste of Vail restaurants and hotels hosting a Taste of Vail Restaurant menu night, winemaker dinners and seminars. The Taste of Vail is a volunteer organization. We rely on the Vail community to enhance the experience of the large number of guest who attends the four-day event from all over the world. We have historically have had 180 volunteers working throughout the event. Actual event staff varies by the size of the event. We have worked with the Restaurant Group to ensure our event meets their needs. More foot traffic into restaurants and events at participating restaurants are all ways we gain traffic to each restaurant that is attending. Taste of Vail has been named one of the top food and wine events this year by Forbes, USA Today and the Travel Channel. 2. The event will be located throughout Vail: Vail Mountain, Gore Creek Drive, Meadow Drive, Lionshead, the Marriott and many hotels and restaurants within Vail.   Page 3 of 21 www.tasteofvail.com 10/17/2012   3. The Mountain Top Picnic will take place on Vail Mountain. The Mountain Top Picnic gives guests the opportunity to have the true experience of being in the mountains. 4. The Debut of Rose’ event will happen in Lionshead on Wednesday, April 2, 2014. The Taste of Vail has a goal for this event to grow into another signature event for the Festival. Because of the large numbers and scope of the events, we do require traffic control and limited street access on/in Lionshead, Gore Creek Drive and Meadow Drive on April 2nd and 3rd. We are asking to work with the town for the trash removal on April 2nd and 3rd. We will be hiring staff to ensure trash is sorted and ready for removal by the Public Works department. 5. Existing event: The Taste of Vail has been located within Vail for the past 24 years. This year will be the same, with the addition of the Debut of Rose’. We will be in various hotels and restaurants throughout Vail. The Lamb Cook-off will be at the Gore Creek location and will include Meadow drive this year. The Mountain Top Picnic will reside at the west side of the Gondola building. Wednesday will be a new event that will kick off the Taste of Vail. The debut of Rose’ 2014. The event will take place in Lionshead/Arrabelle from 3 pm- 6 pm. 6. 2013 Attendance Figures Attendance: Total ticket sales for event 10,731 Of those that came to Vail for the event, 41% were out-of-state guests and 20% were in-state overnight guests. 39% of the attendees were from Colorado, and of the overnight guests that came to Vail specifically for the event, and stayed in paid lodging (24% of total accommodations), 70% stayed in Vail. The average number of nights stayed by those staying in paid lodging within Vail was 3.9, and the TOV produced approximately 842 room   Page 4 of 21 www.tasteofvail.com 10/17/2012   nights over the course of the event with an average nightly rate of $301. The estimated gross revenue generation was approximately $1.1 million (+/- 20%), producing an estimated $44K in sales tax revenue for Vail (4% tax rate). We estimate we had 10,000 guests at lamb, and 760 at Grand and 1200 at Mountain Top. We have 185 volunteers for our event. We are creating a volunteer program for the event that will allow us to have more tickets for all the festival events. Event staff varies for each event.   Page 5 of 21 www.tasteofvail.com 10/18/2013   Where Taste of Vail attendees came from Colorado 58% California 7% New Jersey 7% Texas 7% New York 4% International 4% Illinois 4% Washington 3% Other States 6% Total Attendee Count is derived from total ticket sales, and zip codes of record. Financial impacts are based on the total guests attending from out of town, including winemakers who pay all of their expenses. The Marriott will be the host hotel. Our room block has filled every year. Our room nights at the Marriot last year were 295 rooms at an average daily rate of $ 200.00. Less than 30% of Colorado attendees are local and not considered in the room revenue estimates. In addition to the Marriott there are many guests that are repeating guests (average number of years in attendance is 5.5) and winemakers who utilize accommodations from every property from the Lift House to the Lodge at Vail.   Page 6 of 21 www.tasteofvail.com 10/18/2013   7. Local Spending Estimates: 2013 TOV - Estimated Spending by Overnight Visitors Staying in Paid Lodging (Only those who came to Vail for TOV) The estimated spending of overnight visitors during the Taste of Vail is $657,195. This includes lodging, dining, retail, and activities. The estimated spending of all other overnight guests those are not in paid lodging within Vail is $268,414. The Taste of Vail survey respondents spent an average of $116 on lift tickets during the Taste of Vail. $0   $100,000   $200,000   $300,000   $400,000   $500,000   $600,000   $700,000   Lodging   Spend   Dining   Spend   Retail  Spend  Activities   Spend   Total    $253,806      $231,403      $127,986      $44,000      $657,195       Page 7 of 21 www.tasteofvail.com 10/18/2013   2013 TOV – Estimated Spending by All other Overnight Visitors (Only those who came to Vail for TOV) 2013 TOV - Estimated Spending by Local/In-state Visitors (Only those who came to Vail for TOV) $0   $50,000   $100,000   $150,000   $200,000   Dining  Spend  Retail  Spend  Activities   Spend   Total    $103,240      $65,447      $13,238      $181,925     $0   $20,000   $40,000   $60,000   $80,000   $100,000   Dining  Spend  Retail  Spend  Activities   Spend   Total    $71,988      $11,266      $3,235      $86,489       Page 8 of 21 www.tasteofvail.com 10/18/2013   Accommodations (Green is 2013) Average nights stayed of all overnight visitors- 6.4, up from 2012 Average nights stayed of those who came for the Event and stayed in paid lodging in Vail – 3.9 The graphs show you that our event spreads the lodging, dining and retail throughout the entire town of Vail. We will continue this for 2014. Directing non-local attendees to Vail lodging options The Taste of Vail is working on lodging packages with the hotels in Vail. We have expanded our marketing to include specific packages that will be offered at each of our participating hotels. This will give the opportunity for hotels to offer an event to their clientele and will increase our demographic. The marketing will be on our website, social media, and all the lodging participants website and social media.   Page 9 of 21 www.tasteofvail.com 10/18/2013   ROI for Town: The Taste of Vail has budgeted an increase in ticket sales between 10-20% for events. In 2013 we saw the average number of nights stayed by those staying in paid lodging within Vail was 3.9, and the TOV produced approximately 842 room nights over the course of the event with an average nightly rate of $301. The estimated gross revenue generation was approximately $1.1M(+/- 20%), producing an estimated $44K in sales tax revenue for Vail (4% tax rate, and does not include lodging taxes associated). Budget: 1. Budget: See attached 2. 19% of the total budget is what we are asking for. 3. Funds will be used: In past six years CSE funding made it possible for Taste of Vail to broaden the event’s appeal. With the continued support of key sponsors such as the American Lamb Board, San Pellegrino, AbinBev and Vail Resorts we have continued to gather more positive impressions. In our continuing evaluations of the events we look for ways to grow and make the event more accessible. The CSE funding will make it possible for Taste of Vail to broaden the event’s appeal. We are broadening the marketing budget through a larger social media and national marketing effort. We continuing with the Vail Restaurant Menu event, which will need a vast marketing effort to ensure it is a success. The goal of the Taste of Vail is to sell out all the events and through a larger marketing budget we will be able to do this. The Taste of Vail Menu night will be throughout the week for participating restaurants. We will be marketing each restaurants menu via eblasts campaign, social media, websites and national pr/ad campaign.   Page 10 of 21 www.tasteofvail.com 10/18/2013   We have added a Wednesday event: The 2014 Debut of 2014 Rose’, which will bring participating wineries and guests in a day earlier for event. We are adding an event to Lionshead. This event gives us the chance to debut the Rose’s of the world for the first time in the world. The marketing budget will ensure extra lodging nights and guests coming one day early to the Taste of Vail. 4. Should the CSE decide not to support his event, will it still occur? Yes, with a much smaller marketing/event budget. 5. What is the $ amount of sponsorships from alternative sources reflected in the budget $70,000, or 19% of the budget. 6. What % of the total event budget do you expect the event itself to generate? (i.e. ticket sales, merchandise, food and alcohol sales, etc.) 62% 7. If possible, would you intend to host the event in Vail beyond 2014? If yes, for how many years beyond 2014? Yes. We look forward to presenting the Taste of Vail annually to promote the Vail Brand within the culinary community. We aim to present culinary events that work with the Vail Brand and have a positive impact on the Vail Culinary community. 8. Do you anticipate requesting funding from the CSE next year? If yes, given that the CSE encourages the development of additional sponsors in order to leverage their own investments, and anticipates that as events become established they will become less reliant on public funds, please explain how you intend to grow the event and indicate what %, if any, of the total event budget you anticipate requesting next year.   Page 11 of 21 www.tasteofvail.com 10/18/2013   Yes, We are on a business plan to expand Taste of Vail and ensure it stays the iconic event that supports the Vail Brand with an active, culinary enthused guest. We will have an office with staff to ensure the constant communication and the culinary community is always on the minds of our consumers. We will be asking for 19% of the budget next year. The Taste of Vail is a 365 a year platform and we will be asking of funds to ensure the Vail Restaurant community has an enhanced presence in the Town of Vail. This year we have hired a Sponsorship Director and a part time Assistant. We plan on keeping these positions for the Taste of Vail. These positions allow the Taste of Vail to create longer activations and more contact with all entities that are involved. The Taste of Vail’s goal as an iconic event is to increase ROI for the Town of Vail and guarantee that the culinary community sees events that bring people into their restaurants during any Taste of Vail branded event. Marketing Description Detailed marketing plan and explanation of potential for sponsorships and media exposure. Please specify any marketing support you are requesting. Background Taste of Vail has grown over the last 24 years to be among the top food and beverage events in the country. During the downturn in the economy, the event took a significant financial loss with drops in attendees, limited sponsorships and the rising cost of doing business in the Vail Valley. Over the last three years, the Taste of Vail board has rededicated itself to promoting Vail restaurants and the Vail lifestyle. This new board of directors has relied more heavily on marketing, as sponsorships for a four-day festival continue to be challenging. The board has a marketing committee that directs and executes all online, marketing, social media and public relations activities. Taste of Vail continues to contract with professionals such as Avid Online for design and website assistance as well as Malen Yantis Public Relations for media outreach and social media.   Page 12 of 21 www.tasteofvail.com 10/18/2013   • Event Strengths o Of those that came to Vail for the Event, 41% were out-of-state guests and 20% were in-state overnight guests. o 39% of the attendees were from Colorado, and of the overnight guests that came to Vail specifically for the Event, and stayed in paid lodging (24% of total accommodations), 70% stayed in Vail. o The average number of nights stayed by those staying in paid lodging within Vail was 3.9, and the TOV produced approximately 842 room nights over the course of the event with an average nightly rate of $301. The estimated gross revenue generation was approximately $1.1 million (+/- 20%), producing an estimated $44K in sales tax revenue for Vail (4% tax rate). o Locals made up 32% of the attendance, while 67% of the total attendees were overnight guests. o The average group size was approximately 3, and the overnight visitors stayed an average of 6.2 nights. o The Travel Channel, Forbes and USA Today have listed the Taste of Vail as one of the top food and wine events in the country. o We estimate we had 10,000 guests at lamb, and 760 at Grand and 1200 at Mountain Top. • Weaknesses o Many Taste of Vail events are weather dependent. o Sponsorship: Taste of Vail attended a sponsorship conference after the 2013 event and has hired a consultant to assist in 2014. We are attempting to grow our sponsorship by 30%. o Budget continues to be a challenge as the event grows without a growth in staff and event support. Competitive Set Other food and wine events such as: • Santa Fe Wine & Chile Fiesta • NOLA Food & Wine Experience • Pebble Beach Food & Wine (Takes place within a week or two of Taste of Vail) • Kohler Wine & Food Experience • Palms Beach Food & Wine Festival   Page 13 of 21 www.tasteofvail.com 10/18/2013   Goals Since its creation in 1990, the Taste of Vail has been the iconic celebration of the Vail lifestyle – “Like Nothing on Earth.” In collaboration with the local culinary community, the Taste of Vail is dedicated to enhancing Vail’s image, positioning and reputation as a world-class international resort with serious commitment to fine food by curating and producing an exclusive, truly unique, epicurean festival that can only be experienced in Vail’s epic landscape. The Taste of Vail brings together the world’s top wine makers, spirits distillers, brewers and industry leaders from the local culinary community to showcase their finest creations at exclusive tastings, lifestyle and entertainment events, and intimate seminars throughout the first weekend in April. Objectives • Grow tickets sales by 20 percent. • Cut complimentary tickets by 20 percent in 2014 by implementing a new volunteer structure. • Expand our marketing through our social media and national advertising. • Keep our main presence with our wine by having only the winemaker or owner pouring the wine at the event. • Add one day to event: the Debut of Rose’ on Wednesday, April 2, 2014 • Have two small events leading up to the Festival. (Beer tasting, Wine tasting) Target Audience The Taste of Vail attendee is a connoisseur of food, wine and an active lifestyle. Attendees fall across the financial spectrum as the event attracts both locals and destination guests. Key target markets include: • Denver/Front Range • New York, Texas, New Jersey, Illinois and California   Page 14 of 21 www.tasteofvail.com 10/18/2013   Based on past research, the mean age of the attendees is 54, with the sample being nearly 42%/58% male to female. 39% of the respondents attended with their spouse/significant other, and 23% came with friends only. 72% earn a household income of $200K+, and nearly 85% have at least a BA Degree. Strategies • Continue to build a new, Wednesday event to bring vintners and guests into Vail a day early. o There will be a Debut of Rose’ on Wednesday afternoon from 3 pm- 6 pm. o The event will be débuting Rose’, which will be the first showing of the Rose’s in this country for 2014. We look forward to the start of an amazing kickoff tradition. o This event will bring 30 wineries, distributors and guests into town a day early. • Leverage sponsorships to attract more participation in the 2014 Taste of Vail. o The Taste of Vail has hired a consultant to help secure new sponsors. o Incorporate sponsors in all marketing outreach from eblasts to social media and public relations outreach, when appropriate. o Work with sponsors to identify additional opportunities to reach their customers with the Taste of Vail message. For example, Taste of Vail has worked with 5280 as a media sponsors the last 5 years. The Taste of Vail will continue to work with the magazine to leverage social media placements, posts and advertising in the publication. o Sponsorships will be used to enhance our media coverage and instill the Vail brand all over the nation. We will work with specific sponsors on before and after contests, events to get the word out about the Event. o The sponsorships will be used prior to event with tastings to get the demographic continually thinking about Taste of Vail 2014. • Continue to work with Vail Resorts to leverage marketing resources. o Ensure Taste of Vail is listed on the Vail.com calendar listings. o Work with marketing team to include Taste of Vail on more than one email blast to their database. o Coordinate any social media posts/presence through the Vail Facebook, Twitter and blog channels. o Coordinate outreach to international marketing wholesale contacts promoting the event with a special ticket price.   Page 15 of 21 www.tasteofvail.com 10/18/2013   • Develop a strong local and regional advertising buy to promote the Taste of Vail. o Publications we have historical purchased advertising in include 5280, Epic Magazine, Vail Valley Magazine, Wine Spectator, Vail Beaver Creek Magazine, Eat and Luxury Vail. o Leverage sponsorships to expand the advertising reach of the event nationally. Example being we will be in US Airways editorial section from January- April as part of our sponsorship. • Leverage public relations to garner news stories about Taste of Vail before and after the event. o Implement new, online media application process. o New in 2014, conduct one-on-one media desk side visits with writers in the Denver/Front Range market. o Please see attached public relations plan for detailed information. • Utilize social media to communication with Taste of Vail fans. o Use promoted posts and pay per click on Facebook to expand awareness of the event. o Continue to utilize strong event images on Pinterest to assist with SEO. o Launch a new blog on tasteofvail.com to keep attendees updated on restaurants, wineries and events surrounding Taste of Vail. Utilize key words to assist with SEO. • Continue to update and modify tasteofvail.com to have a strong online presence. o Taste of Vail added coding to our January- April postcards that will allow us to gain more demographic/geographic information regarding our guests. o The Taste of Vail will have a new blog that our wineries, restaurants and staff will add to regarding food, wine , spirits and the Vail Brand. o SEO campaign will target specific searches and target a more national audience. o Taste of Vail will be sending out monthly eblasts to drive people to tasteofvail.com to book and the participating lodging with their packaging. • Identify join venture marketing opportunities.   Page 16 of 21 www.tasteofvail.com 10/18/2013   o We have worked and are working with the Vail Beaver Creek Restaurant Week by sending info about their event. We are asking them to also promote the Taste of Vail. o We are working with all 55 wineries and having them market the event. There will be postcards at every winery giving information about the Taste of Vail. • We are cutting back on our comped tickets this year. We have created a volunteer program that will allow us to give back to community by the work non-profit programs do at our event. We are planning on cutting back in comps by 20% this year. Timeline Date Due Ad Whom Print Out Sept 6th Postcard TOV Oct 1 Oct 15th July/August Epic Magazine VR NA Nov/Dec/Jan Sept/Oct Duratrans TOV Oct Nov 1 June Bus Ads TOV June Sept 20 Poster TOV Oct Oct January 15 5280 Ad 5280 Feb/March Feb/March Eat Ad Vail Daily Nov 20 Banner AD VD Sale ad Nov 20th Nov-April Vail Daily Ads VD   Page 17 of 21 www.tasteofvail.com 10/18/2013   Nov- April Rack Card TOV Jan- April Jan 1, 2013 Feb 20th Program Guide TOV March April 1st Feb Sponsor Ads TOV March April 1st Feb Credentials TOV March 1 March 8 Feb Tickets TOV March 1 March 8 Feb Auction Book TOV March 1 March 15 November Wine Club Ad TOV Nov 15 Nov 20th Eblasts go out every 2 weeks till event- Sept/Oct/Dec/Jan/Feb/March and April National Ads TBD Case by case basis Case by case basis Case by case basis January Denver post TOV January 15 Feb/March Measurement • Quantity/quality of restaurant and winery participants • Total number of tickets sold in 2014 • Ticket revenue from 2014   Page 18 of 21 www.tasteofvail.com 10/18/2013   • Number of room nights sold in 2014 • Revenue from sponsorships • Survey results • Media coverage 2. Marketing and PR Efforts: 1. The Taste of Vail will and is working with local and national media advertising. This will continue throughout 2014. We will be working with our sponsors to enhance the use of their social media at all levels. This will be done with their services and ours. We will be doing e-blasts, ads through the participating restaurants, the sponsors, and several media outlets for 2014. 2. We will work with hotels where events are being held. Taste of Vail will be responsible for working with the properties to encourage a package weekend for Taste of Vail. The hotels will have the marketing deck to put into their eblasts that go out from November- April. 3 The Taste of Vail will work to identify the best possible ways to promote TOV during high season--sweepstakes promotions in Denver, and build audience attendance. We will be working closely with our premier sponsors to work with the International Market and their social media contacts. The Taste of Vail made over 12 million-consumer impressions, reaching a clientele with an annual income of over $129,000. 4. We will work with our in kind sponsors to enhance the Vail as a ski and snowboard destination within the culinary enthusiast community. Results we will seek with our Marketing plan: a. Promote the TOV events at the properties through e-blasts and targeted collateral. We were able to obtain larger national media exposure in the New York Times, USA Today, Getty Images and various airline magazines, and luxury lifestyle placements. With the CSE funding we plan on keeping this effort alive. b. Taste of Vail will work with their marketing committee: and they will work closely with our PR company, Malen Yantis Public Relations, to identify   Page 19 of 21 www.tasteofvail.com 10/18/2013   the best possible stories to build awareness and audience attendance for 2014 TOV. c. The Taste of Vail will create with a collateral piece that will be distributed to ALL concierges, hotels, and restaurants in Vail to promote TOV wherever possible. This will begin in November and be updated until event begins. d. The Taste of Vail will work with select wineries on a program to promote TOV to their wine club members, through their social media channels, etc.: building audience attendance through our winery attendees. e. Through the help of our PR firm and Marketing committee, the media campaign will be much larger. The Taste of Vail PR Campaign will engage our Taste of Vail Facebook community with contests leading up to the event.   The 2013 Taste of Vail Facebook grew by more than 52%. This will be done via a combination of efforts: - Online Promotions - Advertising - Facebook photo contest -YouTube video segments f. Taste of Vail contracted and had six video segments featuring Lamb Cook-Off, Mountain Top Picnic and the Grand Tasting 2013. This has given the Taste of Vail a large presence in all social media venues. We will be contracting for 2013 to promote the restaurants before and during the event through video segments. We are looking at doing 6 segments. This will continue the video campaign that has had success for the event. (November- April) g. The Taste of Vail will be starting a pre-event campaign for Taste of Vail. The event will take place throughout the liquor stores and restaurants in Vail. The promotion will be an educational platform on wine and food pairing to market the Taste of Vail event.   Page 20 of 21 www.tasteofvail.com 10/18/2013   The Taste of Vail is requesting $20,000 toward our marketing plan to advertise in the National media. The papers we will be using hits the demographic we are looking for and are interested in the Vail Brand. (NY Times, Wall Street Journal, Sunset, Epic Magazine and Outside) We are asking for $10,500 for Internet ads to be run from November- November, with upcoming restaurant events being the fill in after the festival. $20,000 to be used on National Newspaper ads- this will include website ads through the news agencies. The remaining 19,500 will be used for the new event and staffing to raise the Taste of Vail to the next level: Thorough communication is a necessity to promote the Taste of Vail and the Vail Brand. We feel this campaign will sell out the events for 2014. 3. Specify any marketing support you are requesting Taste of Vail has many in kind sponsor who make significant contributions or real value and we have commitments from them again this year. Vail Resorts is our premier sponsor and we will be working closely with them this year in promoting the event. This year the Taste of Vail continued with cash sponsorship relations with San Pellegrino water, Stella Artois, Tricor Braun and American Express. This year with the hiring of our Sponsorship Director, it has sparked interest by past partners as well as some that are new. Our marketing outreach continues in the form of a campaign to keep Taste of Vail in the public eye all year round. We are currently working on a local and national partnership campaign. 4. Marketing/PR contacts Heather Price: Heather@milbrandtvineyards.com (970) 331-1234 PR: Malen Yantis Public Relations: Kristin Yantis kyantis@myprco.com 970-949-7919 5. Previous Years Event Evaluation: Please See Attached   Page 21 of 21 www.tasteofvail.com 10/18/2013   Income and expense statement: attached 5. Board of Directors: 1. TJ Armstrong, Owner Blus’ 2. Chris Chantler, Co Owner Vail Mountain Coffee and Tea Co. 3. Angelica Palladino, Food and Beverage Director, Four Seasons 4. Doug Wooldridge, Manager; Two Elk Restaurant Vail Resorts 5. Greg Moffet, Owner Tiga Advertising Taste of Vail Budget Income Sponsor CSE 70,000.00$ Restaurant 9,330.80$ Winery 25,850.00$ Associate 70,000.00$ Total Sponsor 175,180.80$ Auction Revenue 13,000.00$ Signature Pass 36,000.00$ Grand 51,500.00$ Lamb/Apres 40,000.00$ Picnic 42,000.00$ Rose'Dinner $9,000.00 Ticket Revenue 178,500.00$ Soft Goods 1,000.00$ Mktg Total Income: 367,680.80$ Expense Sales Tax 10,201.08$ Event Expenses Auction 1,500.00$ Grand 35,000.00$ Lamb 18,500.00$ Picnic 12,000.00$ Rose'17,000.00$ Seminar 5,000.00$ Taste of Vail Budget Event Costs Ads 44,000.00$ PR 28,000.00$ Web/Design services/eblast 30,000.00$ Sponsor expense 28,000.00$ Printing 14,000.00$ Admin/Staff 78,000.00$ Wine/photographer 20,000.00$ Insurance 12,000.00$ Soft Goods 2,000.00$ Total Expense cost 355,201.08$ Net Income:12,479.72$ TASTEProfit and Loss Standard September 2012 through August 2013 Sep '12 - Aug '13 Total 3300 Ticket Revenue 143,099.12$ Soft Good Revenue 1,240.00$ Auction 9,213.89$ Sponsorship Revenue 92,548.74$ Sales Taxes -5,666.68 Uncategorized Income 168.87 Interest Income 17.06 Total Income 240,621.00 240,621.00 Expenses Nordic Expense 1,300.59$ 5100 Auction 300.00$ 5300 Grand Tasting 27,088.92$ 5400 Lamb Cookoff 17,436.88$ 5500 Pinic 11,844.35$ 5600 Seminars 4,235.15$ 5800 Other Event Costs 19,876.44$ Total Event Expense 82,082.33$ 6100 Advertising/Marketing/PR 61,798.47$ Total 6300 Printing 13,191.69$ Administration/bank charge/acctg/ins/supplies 67,745.02$ Total Expenses 224,817.51$ 15,803.49$ Event Recap: Taste of Vail Taste of Vail: April 3-6th, 2013 Office: 970-401-3320 Mobile:970-401-3320 info@tasteofvail.com 2  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   Vail Brand Compatibility 3  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   Standard of excellence met by: • The estimated gross revenue from Taste of Vail is 1.1 million dollars. • 93% of the sample surveyed came to Vail specifically for the event. 86% are extremely likely to return. 57% of people who came came stayed in Vail. • We revived the brand in 2012 that fits better with Vail look and feel. We enlivened wellness through our new events, The Nordic Wine Sampler and Vail Restaurant Night. • We created an international aspect by hosting international media with a group of writers from Mexico. Event Strengths & Weaknesses 4  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • Exceeded expectations: • The Lamb Cook-off grew in town and was spread out with a larger footprint, which gave guests more space and allowed guests to see the entire town. • The upscale, health conscious, outdoor enthusiasts were in town exploring, lodging, shopping and eating. We brought the market that the Vail Brand is looking for into town. The survey results told us that people came to ski, shop, enjoy food and wine. • We created Restaurant Night on Friday Night. The Taste of Vail listened to CSE's feedback and created this new event that allowed every restaurant to promote a menu/specials and have pairings with participating wineries The event drove people into restaurants to help generate revenue for the restaurants that participate in TOV. • The Taste of Vail also created the Nordic Wine Sampler on Wednesday afternoon as the kickoff for the event. This event infused more wellness-oriented activities into the food and wine festival. This also provided a new, exciting element to the event which started a day earlier. • The Taste of Vail has cut down on comps by 20%. • We increased our social media campaign and doubled engagement via facebook and eblasts with guests. Event Strengths & Weaknesses 5  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   Measures that could be taken for event improvement: • The engagement of the restaurant community is an area where we have had several different emails, phone calls, contacts with participating restaurants and given them "ways to get involved" and yet no one participated in the marketing/pr effort. We will be working with each restaurant again to ensure that our marketing efforts begin in August. • The recycling and garbage was an issue this year. We have met with Public Works and informed them that we will be hiring staff to ensure this is taken care of. • We will be including additional engagement in the Denver market. The board would like to do a kickoff event in Denver to get more front range visitors excited about the event This has not happened due to cost. Event Budget 6  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • Total event budget: See attached • CSE funds: $30,000 • Profit and loss: $26179(will be utilized to hire assistant and sponsorship coordinator for event) • In-kind sponsorship: • Vail Resorts • American Lamb Board • Acqua Panna/S Pellegrino • Brown Fornman • 5280 Magazine • Marczyk Foods • Niman Ranch • Vail Mountain Coffee &Tea Event Budget 7  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • In kind Sponsorship: • Vail Marriott Mountain Resort • Tiga Advertising • Avid Design • TV8 • Cash sponsorship • Slifer Smith & Frampton Real Estate • Dry Soda • Tender Belly • Vail Fine Wines • West Vail Liquor Mart Estimated Results* 8  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   *  Based  on  survey  results.   • Estimated attendance: • If non-ticketed, method you used to estimate attendees: 10, 731 total • % of people in Vail specifically for event: • 93% of people came to Vail for Taste of Vail • % of people attended previous years: 69% of attendees had attended in previous years. 31% were first time attendees for 2013. Estimated Results* 9  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • AIendees  came  from  (local,  regional,  out  of  state,  interna9onal):      Colorado  58%      California:  7%      New  Jersey:  7%      Texas:  7%      Illinois:  4%      Interna9onal:  5%      Other  States:  3%   • Average  age  and  income  bracket  of  aIendees:   • 35-­‐54:  58%   • 55-­‐64  plus:  34%   AIended/graduated  college:  97%   Post  Graduate:  41%   Household  Income   100-­‐199,999:  30%   200K  plus  47%   *  Based  on  survey  results.   Estimated Results* 10  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • Lodging:   • 93%  aIendees  stayed  in  Town  of  Vail:     • Average  amount  spent  on  lodging/day:  $301   • Es9mated  room  nights  booked  due  to  event  associa9on:  842   •   Lodging  call  to  ac9on:  The  Taste  of  Vail  had  packages  with  all  the   par9cipa9ng  Lodging.     • $253,806  based  only  on  those  staying  in  Vail   • Dining:$406,631   • Shopping:  $204,709   • Other  Ac9vi9es:  $104,473   *  Based  on  survey  results.   Estimated Return on Investment (ROI)* 11  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • Addi9onal  Town  of  Vail  spending  event  generated:    $969,619   • Ra9o  of  revenue  to  amount  of  funding  received:  97%   • Sales  tax  revenue  generated  by  event  and  accrued  to  Town  of  Vail   including  sales  and  lodging  tax:**   • $44,000   *  Based  on  survey  results.   **  The  TOV  collects  4%  sales  tax  with  the  excep9on  of  short-­‐term  lodging  which  collects  5.4%  aber   the  addi9on  of  a  1.4%  local  marke9ng  district  tax.  For  more  informa9on:  hIp://www.vailgov.com/ subpage.asp?dept_id=48     Visitor Intent to Return* 12  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   Sa9sfac9on  ra9ngs:   • 86%  are  very  or  extremely  likely  to  return   • Survey  Comments:   • ”  We  purchased  a  $75  9cket  for  Lamb  and  loved  every  aspect  of   it.  “   • “The  town  was  in  its  prime  and  loved  the  lifestyle  we  were   provided.”   • “This  event  seems  to  get  beIer  every  year  we  come.”       *  Based  on  survey  results.   Topline Marketing Efforts 13  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • 40% of our guests were informed via our eblasts that went out. The eblasts went out from September to April 2013. We had 56,000 eblasts go out. • Successfully engaged our Taste of Vail Facebook community with contests leading up to event. Taste of Vail Facebook grew by more than 52% • Taste of Vail contracted and had six video segments featuring Lamb Cook Off, Mountain Top Picnic and the Grand Tasting. This has given Taste of Vail a large presence in all social media venues. • Our print publications: 5280 Magazine, Applause, Aspen Daily News, Aspen Times, Denver Post, Summit Daily News, brochures, postcards, program, Taste of Vail banners and Vail Daily with a total print impression of 7,230,720 • Through the help of our PR firm media outreach was bigger. The pr effort continued to have a strong Front Range and regional presence with select national placements in outlets such as Forbes.com • The Taste of Vail has started to extend reach to the international market by partnering with Vail Resorts to bring in a culinary press trip from Mexico featuring some of the most prominent gastronomy writers in Mexico. Community Contribution 14  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   The Taste of Vail is a promotion of Vail as a world-class culinary destination. The Taste of Vail is an idea, a platform for promoting the Vail lifestyle via the community’s ever-evolving food and beverage assets. This is done through the organizations iconic food and wine event in the spring, along with additional activities throughout the year to support and elevate the community. Sustainability Efforts 15  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   We  begin  by  u9lizing  post  consumer  recycled  paper  on  all  collateral  and   printed  materials     We  were  innova9ve  in  our  use  of  corn  based  service  wear  both  plates  and   utensils.   We  composted  as  much  as  possible.  At  each  sta9on  recycling  is  available.   We  have  a  person  at  each  event  responsible  for  overseeing  green  prac9ces.   By  the  very  nature  of  the  event  we  encourage  public  transporta9on  and   shuIles.   2014  we  will  be  hiring  a  staff  to  ensure  that  the  compos9ng  and  recycling  is   done  to  the  utmost  caliber.     Additional Information 16  Town  of  Vail    |    CSE    |    12/15/11(presenta9on  date)   • Budget attached • Power point with pictures/summary of events attached Additional documents attached to presentation: