HomeMy WebLinkAbout03. VVP Mid Year Group Sales Report, Jan-Jun 2022VVP GROUP SALES MID-YEAR 2022 UPDATE
Mid-Year 2022 Group Sales Results –At a Glance
CONTRACTS = 34
9,444 ROOM NIGHTS
$2,990,059 ROOM REVENUE
LEADS GENERATED = 219
LEADS IN PIPELINE = 111
SITE TOURS = 12
9 BOOKED
ADDED TO DATABASE
102 NEW ORGANIZATIONS
98 NEW CONTACTS
LEADS LOST = 155
Mid-Year YOY Comparison (Jan-Jun)
2019 2020 2021 2022
Total Lead Generation 114 95 132 219
New Lead Generation 110 89 118 205
Cvent Leads to VVP 67 47 77 142
Leads in the Pipeline 38 26 45 111
Contracted in the Year 25 10 25 34
Lost Leads 86 104 83 155
Companies Added to
Group Sales Database
194 90 68 102
Planners Added to Group
Sales Database
410 148 82 98
2022 GROUPS ON THE BOOKS
GEOGRAPHIC & VERTICAL MARKETS
GEOGRAPHICAL % OF GEOGRAPHICAL VERTICAL % OF VERTICAL
Colorado 38% 26% 26%
Southeast 4% Corporate 38%
Midwest 11% Incentive 6%
West 29% Medical 19%
Northeast 17% SMERF 11%
International 1%
GROUPS ON THE BOOKS 2023 & BEYOND
GEOGRAPHIC & VERTICAL MARKETS
GEOGRAPHICAL % OF GEOGRAPHICAL VERTICAL % OF VERTICAL
Colorado 41$ Association 41%
Southeast 0% Corporate 12%
Midwest 35% Incentive 12%
West 12% Medical 29%
Northeast 12% SMERF 6%
International 0%
LEADS IN THE PIPELINE AS OF 6/30/22
GEOGRAPHICAL & VERTICAL MARKETS
GEOGRAPHICAL % OF GEOGRAPHICAL VERTICAL % OF VERTICAL
Colorado 32% Association 23%
Southeast 13% Corporate 40%
Midwest 8% Incentive 13%
West 29% Medical 9%
Northeast 17% SMERF 15%
International 1%
CVENT LEADS - YOY COMPARISON (JAN-JUN)
Total Vail Valley Leads Sourced 2021 2022
Unique RFPs 348 558
Unique Room Nights 80,841 144,548
Awarded RFPs 49 63
Awarded Room Nights 5,951 9,978
Awarded RFP Value $2,435,986 $4,424,580
Sourced Direct to VVP 2021 2022
Total RFPs 77 142
Total Room Nights 21,000 49,000
Total RFP Value $7,100,000 $17,000,000
Average Room Nights per RFP 273 345
Average Value per RFP $92,208 $119,718
Hospitality Booking Trends
•Travel in general is coming back faster than expected – Demand is strong and “Big is
Back!”
•Groups are no longer interested in hybrid approach – want in person meetings
•Hotel rates, gas, airfare & car rental pricing continues to escalate, which is impacting
group business – reducing duration of meetings, many keeping closer to headquarters
•Compression from rebooked group programs is strongly impacting availability &
driving higher rates for our lodging partners
•Planners are being more flexible with dates/pattern
•Booking window still very short term - hesitancy to sign contracts too far out
•Labor shortages still impacting hospitality industry
•Employees have gotten used to working remote/from home
•Hours and pay aren’t attractive enough to return to frontline positions
•Diversity and inclusion are an industry imperative when considering the industry’s
growth
Colorado M&I Rebate Program Stats
Approved by County Approved by Event Type
Denver: 48
Eagle: 14
Larimer: 7
Adams: 9
Jefferson County: 8
El Paso: 6
Rout & Summit: 4 each
Broomfield & Pitkin: 3 each
Boulder, Mesa & Douglas: 2 each
Alamosa, Chaffee, Arapahoe, & La Plata: 1 each
Montrose, Park, & San Miguel: 1 each
Business Meeting: 25
Concert Series: 2
Conference: 51
Exhibition/Trade Show: 2
Festival: 3
Other: 5
Sporting Event: 7
Wedding: 24
Meeting & Events Incentive Program Stats as of June 30, 2022: ($6,169,770 is still available)
As of June 30, 2022, the program has received two hundred-forty (240) submitted applications.
One hundred-nineteen (119) applications have been approved for a total of $2,444,744.99 in
cash rebates. Thirty-eight (38) applications are under review.