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HomeMy WebLinkAbout5. 2015.09.02 CSE-VLMD Strategic alignmentCSE-VLMD STRATEGY ALIGNMENT FOR 2016 EVENT FUNDING PROCESS SEPTEMBER 2, 2015 Agenda o 2016 Strategic Considerations Compared o Trends & Opportunities Objectives Strengthen Vail’s position as a year-round destination that appeals to a broad audience, by elevating the summer brand position. Overarching Goal- VLMD The Vail Commission on Special Events (CSE) is accountable to deliver an annual Special Events Plan which ensures world class events that are fully aligned with Vail’s brand. The CSE will effectively and efficiently allocate available budget behind this objective. The Events Plan will deliver measureable results in terms of specific goals: economic impact, optimization of the event calendar, positive community experience and integration, as well as positive guest-centric results that lead to future loyalty. CSE MISSION STATEMENT Continue the momentum and build on the powerful leadership position of the year-round Vail brand o Increase Sales Tax Revenue o Increase May – October Occupancy o Increase Group Occupancy o Optimize Visitor Mix o Monitor Net Promoter Score (due to new methodology) o Increase Consideration percentage as measured by Burke 2016 Marketing Objectives Continue the momentum and build on the powerful leadership position of the year-round Vail brand o Increase Sales Tax Revenue o Increase Destination Visitation o Leverage Media Exposure and Sponsorship Support o Optimize the Calendar o Demographic Fit: Optimize the Visitor Mix o Community Enrichment o Promote an atmosphere of Vitality, Fun and Celebration 2016 CSE Objectives o Shift from 35 – 64 to 25 – 54 o $100K+ HHI o Expanded family composition o Female skew o Geographic Target: Dallas, Houston & Chicago; Front Range; and International Media Target Audience o Strengthen Vail’s position as a year-round destination by unifying the brand message in winter and summer o Leverage Burke Summer research to increase consideration o Focus on core audience while broadening and increasing relevancy with younger demographic o Maximize off peak, mid-week and shoulder seasons o Increase CRM capacity to maintain repeat guests and re-engage lapsed guests o Optimize mix to drive revenue - % of Destination, Front Range Overnight and International (Mexico/Latin American) guests while retaining Front Range day guests o Increase awareness of Vail as a group & meeting destination and to drive quality leads to the lodging community o Support EGE flights with targeted and integrated efforts in flight markets, working with Vail Resorts o Leverage summer events and identify new events to build overnight guests and mid week traffic o Leverage and integrate with Colorado Tourism efforts in key Destination Markets 2016 VLMD Strategies Keeping Vail A Leader Town Council Three Focus Areas Our Mission - Grow a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. o VLMDAC •Continue to market events that drive destination guests •Continue collaboration with CSE CSE •Continue to support events that support the Vail Brand and drive destination guests •Continue to align funding criteria with VLMDAC strategies Events Foodie Adventurists celebrate cuisine in their travels o Travel is now a way to celebrate and experience cuisine – and in 2015 foodies are celebrating the 250th anniversary of the restaurant. o 21% of travelers in a Travel Guard poll said they would be most excited to attend food and wine festivals. o Some competitors are already taking their culinary offerings to the next level with top tier experiences for foodies looking to plan their next culinary adventure. Emerging Trends in Travel Multigenerational Aspirational adventurers bring the whole family o This group doesn’t believe in traveling alone. Rather, they bring the entire family on unforgettable adventures, with a focus on educational and participatory travel experiences. o This target appreciate destinations that accommodate the young – and the young at heart. Emerging Trends in Travel Millennials are an ever more influential travel group o They make up one-third of US travelers, and are the fastest growing age segment in travel. o More than any other age group, approximately one-third of Millennials intend on traveling more in 2015. o 35% of 18-34 year olds in a Hotwire survey plan on taking one or two large vacations in the coming year. Emerging Trends in Travel BOOMERS AND MILLENNIALS ARE LEADING THE CHARGE. Millennials will become the largest generation in 2015, overtaking Boomers. •Boomers: 74.9MM •Gen X: 65.8MM •Millennials: 75.3MM Not Only Due to Their Large Population Size. Source: Pew Research 2015. Boomers control 70% of all disposable income in the United States, and spend$120B on travel. 80% of all luxury travel is taken by Boomers. Millennials set aside $226B for domestic and international travel, making travel a priority despite their relatively lower income. Also Due to Their Purchasing Power, Especially when it comes to Travel. Source: TravelPulse 2014, Hotwire 2014. They are Still Interconnected with Boomers, sharing the same sense of adventure and value of family time. o Millennials are not our core audience now, but they are becoming more important o As we move forward, we must ensure we create space for them – while staying authentic to our brand Implications for Vail 1 Leverage our existing consumer base (Boomers) to build affinity with younger consumers (Millennials) by appealing to Multi-Generational travelers. 2 Present a consistent brand across the town and mtn. Use one voice and one look to deliver a seamless, effortless experience. 3 Engage our winter guests to drive trial and loyalty in summer. 4 Market & present exceptional, curated experiences that deliver on Luxury Wilderness and lean in to trends that Millennials value. 5 Market an iconic and uniquely Vail event concept that serves as a tent pole, driving destination visitation, word of mouth, buzz, and earned media. Opportunities Thank you!