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HomeMy WebLinkAbout03. Malen Yantis Contingency Finding Request - Travel Classics December 10, 2021 TO: VLMDAC FROM: Kristin Yantis & Amanda McNally, MYPR CC: Mia Vlaar & Liz Gladitsch RE: Contingency Funding Request – Travel Classics We are very excited to present the VLMDAC with the opportunity to host the annual Travel Classics media event in Vail during fall 2022! As you know, MYPR started attending the event in 2019 to expedite meeting with some of the top writers in North America. In addition, our goal was to build a relationship with the event producer to bring the conference to Vail. The 2022 conference had been promised to Aspen, but due to the destination’s inability to meet lodging requirements, they declined the opportunity leaving the event organizer in a pinch to name the location for the 2022 event. MYPR immediately contacted the event organizer to explore if Vail could host Travel Classics. Background Travel Classics is the premier travel media conference in the world. The event is held each year in both international and domestic locations showcasing some of the most sought-after travel editors and freelance writers in the industry. Following are sample editors attending the Scottsdale 2021 conference: • Jacqui Gifford, editor in chief of Travel & Leisure • Ellen Carpenter, editor in chief of Hemispheres • Mary Bemis, editor in chief of Insider’s Guide to Spas • Jennifer Bortel, media Director of The Saturday Evening Post • Andrew Elkin, managing editor of Air Canada enRoute • Melanie Hansche, deputy editor of Food & Wine • Lorrie Lynch, director of features for AARP • Erin Riley, senior travel editor at Outside • Lyndsey Matthews, senior commerce editor at AFAR • George Stone, executive editor, travel, National Geographic Media • Jeremy Tarr, digital editorial director for Fodor’s Travel • Stephanie Wu, digital editor of Conde Nast Traveler In addition to the lineup of top editors in the travel/hospitality industry, approximately 40 of North America’s top freelance writers apply to attend the event for a chance to meet with these top in- house journalists. Unlike many industry conferences, the freelance writers pay to attend this event (many other industry conferences expect full comps for participating media). Potential Media Coverage The 2019 Whistler conference generated 50 stories about the destination with a reach of more than 25M and ad equivalency of $650K. Keep in mind, coverage for this event was impacted by COVID so we anticipate more opportunities for coverage of the destination and its partners. Additional media reports from pre-COVID conferences can be pulled upon request. What We’ve Done in Three Weeks! Since the Scottsdale conference, the week before Thanksgiving, MYPR has worked with Kim Brussow, Mia Vlaar and Liz Gladitsch to assess the viability of hosting the conference in fall 2022. Following are key action steps that have been taken to secure the conference. • RFP was distributed to hotel partners by Kim Brussow. Three bids returned from Pinnacle Group (Sonnenalp, Four Seasons and The Sebastian-Vail), The Arrabelle at Vail Square and the Grand Hyatt Vail. The latter bid was the most promising as it met all of the conferences extensive requirements from rate to number of comps, free event space, etc. The event organizer is currently assessing the bids. • Met with the PR teams from the Colorado Tourism Office and Vail Resorts to discuss sponsorship opportunities. Due to fiscal year budgeting, neither the CTO nor Vail Resorts can make firm commitments to how they will be involved in the event, however, both have expressed a strong interest in partnering. • We’ve brainstormed creative ways in which we can showcase Vail. Since media are in meetings most of the day, the evening dinners are one of the strongest ways to showcase the uniqueness of the destination. All breakfasts, lunches and dinners will be sponsored by different entities e.g. Ireland Tourism Board, Swiss Tourism Board, additional hotels and DMOs. o In speaking to our partners at the CTO, our ideal vision would be to have the following dinners:  No. 1 – Hosted by Discover Vail  No. 2 – Hosted by the CTO – can showcase other destinations and key messages throughout the state  No. 3 – Hosted by Vail Resorts – an opportunity to showcase all Colorado or enterprise-wide properties o We also would develop a list of local vendors and suggested locations for other sponsors to reference for off-site events to move media round Vail. • Developed initial ideas for pre- and post-event media hosting. The Discover Vail team would develop two-day, one-of-a-kind media opportunities to showcase the destination to a select group of writers who want to come early or stay longer. • Discussed working with the CTO to create a “Colorado Media Marketplace” where we would invite other Colorado DMOs to attend the first day of the conference for a media showcase event. We would charge at least $500 per destination to offset some of the event sponsorship requirements. Budget In addition to securing the host lodging property, there are several budget expectations of the host destination. • $75,000 sponsorship fee from the host destination. The sponsorship fee can be shared by several partners such as Vail Resorts and the Colorado Tourism Office but the VLMD would need to take the lead funding position. • Historically, the destination has hosted at least one dinner (approx. 80 people) – estimated $25-30K dinner. Estimated total budget for support of Travel Classics is $100,000 with the sponsorship fee and dinner. Following is an estimated budget to make the additional $100,000 in expenses work in the 2022 VLMDAC budget. Total Budget Commitment Partnership Funds & Budget Shifts Notes $100,000 -$5,000 Minimum offset by media marketplace organized by the CTO -$20,000 Shift from 2022 PR budget – eliminate New York media mission, shift in- market media visits and media hosting dollars -$25,000 TOTAL $75,000 Request to shift from contingency to PR budget to host Travel Classics event. We also anticipate there may be additional ways to offset the $75,000 fee through sponsorship commitments from the Colorado Tourism Office, Vail Resorts and other entities. Due to fiscal year timing, these entities were not able to make firm commitments. If additional sponsorship dollars are secured, we will return budget dollars to the VLMDAC. However, to secure Travel Classics for 2022, the organizer needs a commitment from Vail by the end of the year, early 2022. The VLMDAC’s ability to be nimble and make quick decisions was appealing to the event organizer. Please note that an additional $5,000 is committed by the VVP from their group recruitment budget to go out for RFP to secure a DMO to help manage Discover Vail’s involvement in the event. This does not impact the sponsorship fee or request for contingency funds. Next Steps If the VLMDAC approves the request to shift $75,000 from contingency to support Travel Classics, we’ve identified the following next steps to start organizing the event. • Kickoff call with event organizer in early 2022. • Announce Travel Classics event at the January PR partners meeting and energize our partners in the community to support the conference. Provide a list of ways in which community partners can get involved including developing an organizing committee that MYPR will coordinate. • Develop a list of local vendors, off site event locations and themes that can be provided to breakout, breakfast and lunch sponsors to showcase the best of what Vail has to offer. • Reach out to Vail restaurants and businesses to provide additional support in the form of trade and/or cost-plus arrangements to get the whole community involved with this opportunity. Upon review, please let us know if you have any questions. Thank you for your consideration!