HomeMy WebLinkAbout05.1. VLMDAC minutes August 30 2021
Vail Local Marketing District Advisory Council
Special Meeting
August 30, 2021, 9:00 am
Town Council Chambers & Zoom
VLMDAC member attendees:
Esmarie Faessler (Sonnenalp), Laurie Mullen (Member at Large), Erica Cannava (Manor Vail
Lodge), Jana Morgan (Sweet Basil), Liana Moore (Antlers), Jenn Bruno (TOV council), Scott
Gubrud (Four Seasons), Kam Bozich (Slifer Smith and Frampton)
Additional attendees:
Kristin Yantis (MYPR), Meggen Kirkham (SITE Marketing), Ainslie Fortune (Cactus),
Mia Vlaar (Town of Vail), Jeremy Gross (Town of Vail), Liz Gladitsch (Town of Vail), Carlie Smith
(Town of Vail), Mark Herron (lodging Liaison), Lauren Scutt (Cactus)
Call to Order
Esmarie called meeting to order
2022 Strategic Plan & Budget
2022 proposed budget
2022 Revenue Projection $ 3,555,000
Annual Marketing budget $ 3,555,000
Initiatives Using Reserves $ 504,240
Contingency-Destination Stewardship Plan $ 100,000
Contingency $ 130,760
Total VLMD budget for 2022 $4,200,000
Decrease in Fund Balance $649,000
The proposed budget will use $649,000 of the fund balance. The 2022 projected ending fund
balance is $926,786, 25% of annual revenues.
Operating plan-
2022 $3,555,000 which is down 4% from 2019 and up from 2021 amended budget
2019 and 2020 VLMD put reserves in and they are being used in 2021 and 2022
Annual expenditures budget is $4,200,000 the highest the VLMD has ever had. That is up 7.6%
from 2021 and up 15.6% from 2019 (uses reserves of $649,000)
End the fund balance at $926,000 25% of annual revenues and within council’s directive
Discussion ensued over Historic Budget Breakout by Category – see presentation for more info
Traditional vs. Digital- Looks like we are cutting back a lot on traditional, can we look at that
We are spending less in both (traditional we have $288,500 and Digital we have $740,000)
Traditional is ONLY television
International, Groups stay the same. Public relations has shifted because of the new campaign
Maybe we need to focus on how are the guests booking? We don’t know.
Historic Budget break out has a lot of detail, suggestion was take out the % of budget for council
presentation.
Discussion about the Loyalty Program- the desired behaviors and benefits
A/B/C Reward test
In Market Redemption
Engage and Earn
Sustainability Rewards
Important point to emphasize is 2022 is not about program structure it’s about testing behaviors
and benefits, then we will have the building blocks to create a program in 2023
Is the council comfortable with the $4.2 in operating budget? You voted on the $4.2m at the
August meeting, you are voting on the break-out with the small changes that need to be made.
Make the changes and email this out to the board to vote before the September meeting.
Other Business
Adjournment
Motion to adjourn by Jenn / second by Scott / unanimous
VLMDAC Executive Session pursuant to: 1( C.R.S. 24-6-402(4) (e) -to determine positions,
develop a strategy and instruct negotiators, Re: 2022 VLMD Budget
Upcoming Meetings:
VLMDAC Monthly Meeting Wednesday, September 15, 2021
Vail Town Council Chambers
/Virtual Via Zoom
VLMD Operating Plan & Budget Presentation, September 21, 2021
Town Council Chambers