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HomeMy WebLinkAbout09-25-2015 Vail-BC Restaurant Week Dashboard w.MemoDay visitor to Vail Full-time downvalley resident Full-time resident of Town of Vail Overnight visitor to the region Seasonal resident of Vail Valley 0% 10% 20% 30% 40% P e r c e n t R e s p o n d i n g 26% 34% 27% 6%7% Visitor Type Annual Household Income Under $50k $50k-$100k $100-$150k $150k or more Gender Female Male State/Country Colorado California Florida Wyoming Missouri Austria United Kingdom 5% 29% 25% 42% 50% 50% 79% 5% 2% 2% 2% 2% 2% Overall Visitor Profile 0K 10K 20K 30K 40K 50K A t t e n d e e -D a y s 19.3K Attendance Estimate Are you staying:In paid lodging With friends/family Vacation home/timeshare Other How many people are staying in your accommodations unit? Myself only 2 3 4 5 6 or more Nights in the area this trip 1 2 3 - 5 6 - 8 9 - 14 15 or more Where are your lodging accommodations located? Vail Beaver Creek Avon Edwards Eagle/Gypsum Summit County Other 59% 20% 22% 0% 0% 38% 13% 31% 6% 13% 11% 20% 57% 4% 4% 4% 69% 4% 18% 0% 0% 7% 2% Nightly Rate (if Paid) Average: $202 Median: $200 Overnight Visitor Profile 0: None, I would have come to Vail anyway 1 2 3 4 5: Half my reason for coming to Vail 6 7 8 9 10: My only reason for coming to Vail 0% 20% 40% 60% 80% 100% P e r c e n t R e s p o n d i n g 30% 2%2%5%0% 15% 0%0%4%0% 43% Importance of Event in Decision to Visit Vail Today Promoter Passive Detractor NPS 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% P e r c e n t R e s p o n d i n g [0 =N o t a t a l l l i k e l y ,1 0 =E x t r e m e l y l i k e l y ] 54% 26%20% 34% Likelihood of Recommending Event to a Friend or Family Member Total Restaurants / bars / prepared food vendors Lodging Shopping Other items, excluding lodging Recreation (race entry fees, golf, bike rental, etc.) $0 $100 $200 E c o n o m i c I m p a c t p e r A t t e .. $91 $65 $11 $6 $5 $4 Direct Economic Impact to TOV per Attendee-Day 2015 Event funding Direct economic impact to TOV Economic impact payback ratio $124.88 $1,748,360.71 $14,000.00 Return on Investment: Funding vs. Impact Summary of Key Trip Characteristics and Demographics 2015 Event Visitor Summary: Vail Restaurant Week, September 25 - October 4 Survey technique:  Intercept.   Qualified sample size: 151 randomly selected pedestrians in VV and LH who said they were 50-100% likely dine at a participating V.R.W. restaurant today and select a $20.15 special. (Please note that sample sizes are smaller for subgroups.) Additionally, for purposes of estimating attendance, participating restaurants were asked to provide sales revenue, guest count, and number of $20.15 specials sold during the VRW period (usable sample=10 restaurants). Number of years event has taken place in Vail (including 2015): 3. Overnight only Average Overall Full-time downvalley resident Full-time resident of Town of Vail Day visitor Overnight visitor Seasonal resident of Vail Valley 3.0 3.0 6.0 7.5 8.3 5.5 Overall 4770 Baseline Rd, Suite 360 • Boulder, CO 80303 • 303/449-6558 • 303/449-6587 FAX • www.rrcassociates.com Vail Restaurant Week 2015: Restaurant Sales Statistics Prepared by RRC Associates, 10/27/2015 Restaurants participating in 2015 Vail Restaurant Week (VRW; September 25 – October 4, 2015) were asked to provide sales statistics for the event by means of a survey. Restaurants were asked to provide aggregate sales revenue, aggregate guest counts, and the aggregate number of $20.15 specials sold over the course of the 10-day event. Ten of the 29 restaurants participating in VRW provided complete data for all metrics requested, and an additional two restaurants provided partial data. For the sample of 10 restaurants providing complete data, we calculated average “per-restaurant” sales, guest counts, and the number of $20.15 specials sold. We then extrapolated the averages to all 29 Vail restaurants that participated in VRW, assuming that reporting and non-reporting restaurants had similar average per-restaurant performance. This results in projected aggregate sales statistics across the 29 participating Vail restaurants during Vail Restaurant Week. As shown in Table 1 below, based on this methodology, we project that during the 2015 Vail Restaurant Week period, the 29 participating Vail restaurants generated approximately $1.97 million in sales, served approximately 46,840 guests, and sold approximately 19,305 $20.15 specials. Table 1 Projected Total Sales and Guest Counts during Vail Restaurant Week 2015 at Participating Vail Restaurants (Results are projected to all 29 Vail restaurants participating in Vail Restaurant Week) (Extrapolations are derived from data provided by 10 participating Vail restaurants) Average per Restaurant (based on 10 responses) Total: Projected to 29 Participating Restaurants 2015 Sales (Sep 25 - Oct 4) $67,990 $1,971,709 2015 Guest Count (Sep 25 - Oct 4) 1,615 46,840 2015 $20.15 Specials Sold (Sep 27 – Oct 6) 666 19,305 A similar sales survey and analysis was conducted following 2013 Vail Restaurant Week, with 12 restaurants providing complete data that year. Although the mix of responding restaurants was different each year (necessitating caution in comparing 2015 vs. 2013 results), the data suggest that sales associated with VRW have likely increased since 2013. In particular, subject to the caveat above about sample differences, the aggregate guest count during VRW is estimated to have risen by 18 percent, and the aggregate number of $20.15 specials sold is estimated to have increased by 60 percent, from 2013 to 2015. Again, these extrapolations should be interpreted with caution, but they would appear to directionally indicate that sales volumes have increased.