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Home My WebLink About5.c. 2016 Recap Vail Centre Leadership ProgramsSurveyed Event Recap: Vail Centre Vail Centre 2016 Programming Event Name: 2016 Program Year 3 Town of Vail | CSE | 11/2/16 Vail Centre Ross Iverson: President/CEO Colleen Davis: VP of Development Office: 970-315-2675 ross@vailcentre.org colleen@vailcentre.org Attendance Estimate 4 Town of Vail | CSE |11/2/16 •400 Course Attendees •90% in Vail specifically for courses •15% of total attended in previous years Visitor Type 5 Town of Vail | CSE |11/2/16 •During the launch year we expected an 80/20 split between local/destination. In future years we expect this to be 50/50. •Increasing the marketing budget in 2017 and developing social campaigns targeted out of market will draw more destination guests. University partners are starting to promote Vail on their web sites as a course location. Overall Visitor Profile 6 Town of Vail | CSE |11/2/16 •Mid career professionals •The age profile of the Vail Centre achieved the desired results •Increased exposure in the Denver market and course selection should increase the % of 150K+ or more income levels. 52% above 100K annually is a strong start! •National and international visitation will grow with the brand growth of the Vail Centre. Overnight Visitor Profile: Overnight Visitors & Seasonal Residents Only Only 7 Town of Vail | CSE |11/2/16 •All destination course attendees are provided a list of preferred hotels in Vail. •Due to the start time of the courses, destination guests all booked rooms in Vail for the convenience of walking to class. Role/Importance of Event in Intent to Visit Vail 8 Town of Vail | CSE |11/2/16 •The courses are intended to have a mix of destination guests and local students. For many locals, the Vail Centre course was their only visit to Vail during the month of the course. •By adding more courses, the number of overnight guests will increase. NPS (Net Promoter Score)/Likelihood to Recommend 9 Town of Vail | CSE |11/2/16 •The NPS for destination courses is much higher than locally run courses due to some of the courses being required by employers •The Vail Centre is integrating more outdoor time to the course work for 2017 to increase the exposure to the mountain and Town venues. •Internal survey data of a larger sample size achieves a 4.2 out of 5 score. This data links the learning outcomes and impact that are part of the CSE scorecard for this category. Estimated Return on Investment (ROI) & Attendee Expenditures 10 Town of Vail | CSE |11/2/16 •Attendee spending is lower due to course tuition including expenses. •Vail Centre program spending = $134,320 •Project course spending: $84,680 •Payback ratio including VC spending = 4.46 Vail Brand Compatibility The Premier International Mountain Resort Community 11 Town of Vail | CSE |11/2/16 Overview: The Vail Centre in one short year has gained national awareness and is quickly becoming a key player in higher education in the State of Colorado. This progress will ensure Vail’s “premier” status links to a “premier” education and learning organization. The Vail Centre also upholds the brand promise of the Town to provide an “abundance” of educational opportunities for the community. •Alignment with Ivy League and Top education entities •Cornell University •Duke University •Yale University Event Strengths & Weaknesses 12 Town of Vail | CSE |11/2/16 •Exceeded expectations: •Secured a relationship with Duke University, Yale University, and Cornell University to set up an adjunct campus in Vail during the months of May-October. •Relevant topics for Vail include non-profit management, corporate sustainability, diversity & inclusion, hospitality management. •Measures that could be taken for event improvement: •Front range and national marketing efforts/brand exposure to secure a higher % of destination guests. Community Contribution 13 Town of Vail | CSE |11/2/16 With the Vail community becoming more of a challenge for a professional to succeed and afford the lifestyle, the Vail Centre scholarship fund is a timely addition to economic development and future prosperity. Each Vail Centre course has an allotment of 20-40% of the seats for Eagle County residents. Along with this, we dedicate a minimum of $25,000 of scholarship funds per course to help elevate professional development and retention of Valley professionals. Along with the launch of the University scholarship fund, the Community Leadership Academy graduated 96 participants to help grow the talent pool and effectives of local public service professionals. Topline Marketing Efforts 14 Town of Vail | CSE |11/2/16 •Vail Daily printed media approx. 40 weeks per year •Targeted social media to Denver market •Development of strong visual brand guidelines •Development of web platform •Joint marketing efforts with the University partners Potential for Growth & Sponsorships/Media Exposure 15 Town of Vail | CSE |11/2/16 •The Vail Centre is building a course catalog to include 10 top University’s hosting 20 courses per year from May-October. This will increase the current level of impact on the Town by 10x over the next 36 months. •The growth of the Vail Centre will create an organic brand exposure through business publications in Denver and nationally. •Sponsorship growth will come through strategic relationships with professional associations throughout the State of Colorado that have a vested interest in talent development. •The Vail Centre is developing strategic relationships with the Vail Chamber, Vail Jazz, Bravo, and Walking Mountains to help co-promote and expose course attendees the various organizations. Sustainability Efforts 16 Town of Vail | CSE | 11/2/16 •Public transportation from DIA or the front range •No driving requirements during their course in Vail •Waste solutions during F&B service throughout the courses •Reduced printing efforts for course materials •Strategic partnership with Yale Corporate Sustainability to bring best practices from around the world to Vail Event Budget 17 Town of Vail | CSE |11/2/16 •Total event budget: $215,000 (TOV funded programs) •CSE funds: $56,000.00 •Funding utilization: •$45,000 University Partnership Program Development •$15,000 = Duke •$15,000 = Cornell •$15,000 = Yale *Includes initial marketing set up, promotion, enrollment kit, professor/faculty expenses and University procurement costs. •$11,000 CU Fellowship Program Development •In-kind sponsorship: $5,000 •$30,000 Scholarships Support for Eagle County Residents Additional Information/Appendix 18 Town of Vail | CSE |11/2/16 •Provide detailed budget in complete PDF please •Provide full version of the Survey Dashboard PDF in Appendix Total economic impact per attendee day Lodging Restaurants/Bars/ Prepared Food Vendors Recreation (golf, bike rental, etc.) Shopping Other items, excluding lodging $0 $100 $200 Economic Impactper Attendee-Day$25 $87 $37 $11 $7 $6 Direct Economic Impact to TOV per Attendee-Day In paid lodging Vacation home/timeshare With friends/family Other 100% Overnight Visitor Profile Myself Only 2 3 4 5 6 or more 33% 67% 1 2 3 - 5 6 - 8 9 - 14 15 or more 25% 50% 25% Vail Beaver Creek Avon Edwards Eagle/Gypsum Summit County Other 100% Under $50k $50k-$100k $100-$150k $150k or more 10% 38% 28% 24% Overall Visitor Profile Under 18 18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 65 - 74 75 or older 14% 34% 29% 11% 3% 9% Male Female 47% 53% Detractor Passive Promoter 0% 20% 40% 60% 80%% of Total Number of Records13% 28% 59% Likelihood of Recommending Event to a Friend or Family Member 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%Percent Responding24%21% 27% 3%6%6%9% 3% Importance of Event in Decision to Visit Vail Today - Overall 2016 Event funding Direct economic Impact to TOV Economic impact payback ratio $0.54 $30,320.00 $56,000.00 Return on Investment: Funding vs. Impact Summary of Key Trip Characteristics and DemographicsAttendee-Days0K 10K 20K 0.4K Attendance Est 46% NPS Net Promoter Score Overnight visitor Full-time resident of Town of Vail Full-time downvalley resident 0% 50%Percent Responding12%17% 71% Visitor Type Colorado North Carolina 3% 97% 2016 Vail Event Visitor Summary: Applied leadership (Vail Centre), Various Dates, 2016 Survey technique: Post-trip web. Overall sample size: 61 (Please note that sample sizes are smaller for subgroups.) Number of years event has taken place in Vail (including 2016): 2 Average Overall Overnight visitor Full-time downvalley resident 5.7 7.6 6.0 Are you staying: How many people are staying in your accomodations unit? Nights in the area this trip Where are your lodging accommodations located? Annual Household Income Age State/Country Gender Nightly Rate (if Paid) Average: Median:$205 $205 Overall Overnight visitor Overall Certificate Programs Revenue Enrollment Fees 158,000 Scholarships -‐30,000 CSE Funding 45,000 Total Revenue 173,000 Expenses Faculty Expenses 52,000 Lodging 54,000 F&B 27,500 AV/Room Rental 3,500 Marketing 60,000 Experiences 6,000 Total Expenses 203,000 Net 30,000-‐ Fellowship Programs Revenue Course Fees 56,000 CSE Funding 11,000 Total Revenue 67,000 Expenses Program Development 15,000 Faculty 45,000 Lodging 21,000 F&B 6,500 AV/Room Rental 1,500 Total Expenses 89,000 Net 22,000.00-‐ Vail 2016 Budget Recap