HomeMy WebLinkAbout04. VLMDAC May Meeting Minutes
Vail Local Marketing District Advisory Council
Monthly Meeting
May 18, 2023, 8:30 am
Grand View Room
VLMDAC member attendees:
In Person- Esmarie Faessler (Sonnenalp), Jana Morgan (Sweet Basil), Liana
Moore (Antlers), Michael Holton (Vail Health), Jonathan Reap (Four Seasons),
Theron Gore (East West), Barry Davis (TOV Council member),
Zoom- Douglas Kessler (Member at Large), Lauren Barotz (Vail Resorts)
Additional attendees:
In Person- Mia Vlaar (Town of Vail), Jeremy Gross (Town of Vail), Meggen
Kirkham (SITE Marketing), Liz Gladitsch (Town of Vail), Amy Hume (Miles), Chris
Romer (Vail Valley Partnership), Slade Cogswell (970), Michal Bednarczyk, Bob
Brown (BAAG), Chris Christmas (Key Data)
Zoom- Kay Schneider (Vail Valley Partnership), Jeremy Coleman (BAAG),
Jenna Luberto (BAAG), Amanda McNally (MYPR), Carl Ribaudo (SMG
Consulting), Charlie Herrington (Steep Motion), James Sauter, Jodi Doney
(Eagle Airport), Kim Brussow (Vail Valley Partnership), Kristin Yantis (MYPR),
Sylvia Rivera, Carlie Smith (Town of Vail)
Call to Order
Esmarie called meeting to order 8:33AM
I. Monthly Financial Report
March $1.1mil which is a half% down from last year
Year to date $1.8mil Annual budget $4.3 mil which is 33% of budget
II. Minutes
• VLMDAC April 20th Minute Approval
Approval Jana first/Liana second/ unanimous
III. Information & Discussion Updates
• Website Roadmap
Review of roadmap by 970 Design
See presentation for more details
IV. First Supplemental Request
Revenues- $5,271,500
Total amended Lodging Tax Revenue of $5,235,500: $735,500, or 16% from
2023 original budget
Increase investment income by $35,000
Expenditures- $5,456,790 (excluding $1.4M transfer to GF)
Total amended budget of $5,456,790 or 16% increase over original budget
New requests will also have an estimated ongoing impact of $185K/year
Fund Balance- $2,316,747
2023 annual budget utilizes $185,290 of fund balance in addition to the $1.4M
transfer to the TOV general fund
Estimated fund balance at the end of 2023 is $2,316,747; 44% of annual
revenues; $1.0M over 25% min
May 18th- First Supplemental Request Presented to Board
June 1st- Publish first supplemental request to Town Council Packet
June 6th- Present to Town Council
Total Supplemental Request to be presented at Town Council: $756,790
V. Information & Discussion Updates
• DMO Structure
SMG Consulting to examine the current Economic Development
department and involved boards and commissions structure and process
to contemplate weather the marketing, events and guest services
operations may function more efficiently in the model of a destination
marketing organization.
$20,000 investment with a 50/50 split with the TOV
• Mexico Media Mission Wasn’t presented
• Late Winter Campaign Results Wasn’t presented
Approval Jana/ Liana second/ Unanimous
• Other Business
• Adjournment
Esmarie called meeting to adjourn Liana first/Jonathan second/unanimous
11:13 am
Upcoming Meetings:
VLMDAC Monthly Meeting Thursday, June 15th, 2023
Location- Grand View Room
VLMD 1st Supplemental Request, June 6, 2023
Town Council Chambers