No preview available
HomeMy WebLinkAbout8.a. 2013 FEAST!_13_Final_ROI7) Brief description of potential benefits to the Town of Vail, including an estimated # of incremental room nights and increased spending generated. Estimated Incremental Room Nights and Revenue Generated by the 2013 FEAST! Vail. 2013 Estimated Incremental Spending Incremental Room Nights Estimated attendance: 950 Those who came just for the event: 66% Those staying in Town of Vail lodging: 75% Average nights stay in Vail: 2.6 Total Incremental Room Nights: 611 (2ppl/room) Incremental Spending Estimated attendance per day: 350 Average amount spent: $266 Event Days: 3 Total Incremental Spending: $279,300 Average lodging price per person per night: $225 Incremental room nights: 611 Subtotal spent on lodging: $137,548 Number of days in Vail not for event: 1.0 Number of people staying additional days: 300 Average amount spent per day: $266 Subtotal spent on non-event days: $79,800 Total Estimated Incremental Spending: $496,648 8) What return on investment should the Town of Vail expect? 2013 Town of Vail Estimated Return on Investment Town of Vail Investment $85,000 Total Value of Media, Public Relations and Event Related Impressions for a top-tier Presenting Sponsor (such as the Town of Vail) (measured by Event Industry-accepted means). This number is based on the projected PR and marketing for this event. $250,000 Return on Investment through Media, PR and Event Related Impressions alone: 2.9-to-1 Est. Incremental Room Nights Generated 611 Incremental Spending Generated $496,648 Return on Investment through Incremental Spending Generated in the Town of Vail: 5.8-to-1 Tax Receipts (Sales - 4%, Lodging-5.4%) $21,791.59 Return on Investment through incremental spending tax receipts generated in the Town of Vail: -