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HomeMy WebLinkAbout04. VLMDAC August Meeting Minutes Vail Local Marketing District Advisory Council Monthly Meeting August 17, 2023, 8:30 am Grand View Room VLMDAC member attendees: In Person- Jana Morgan (Sweet Basil) Liana Moore (Antlers), Theron Gore (East West), Lauren Barotz (Vail Resorts), Jonathan Reap (Four Seasons), Douglas Kessler (Homeowner) Zoom- Additional attendees: In Person- Meggen Kirkham (SITE Marketing), Liz Gladitsch (Town of Vail), Amy Hume (Miles), Chris Romer (Vail Valley Partnership), Alex Jakubiec (Town of Vail), Slade Cogswell (970), Michal Bednarczyk (970), Kristin Yantis (MYPR), Bob Brown (BAAG), Mia Vlaar (Town of Vail), Danelle Amos (Miles), Ivy Vaughn (Miles) Abby Oliveira (Town of Vail) Zoom- Jeremy Coleman (BAAG), Jenna Luberto (BAAG), Amanda McNally (MYPR), Mark Grattan (Miles Partnership), Charlie Herrington (Steep Motion), Kim Brussow (Vail Valley Partnership), Kay Schneider (Vail Valley Partnership), Jodi Doney (Eagle Airport), Brennah Rosenthal (Lumenati), Thomas Bull (970) Call to Order Jana called meeting to order 8:35AM I. Monthly Financial Report II. Minute Approval • VLMDAC July 20th, 2023 Minutes Approval Approval first Jonathan/ second Douglas/ unanimous Approved with the change of Jana calling the meeting to order (not Esmarie) III. Information & Discussion Updates • 2024 Operating Plan & Budget 2024 Goals & Priorities Update Discussed the four Goals -Optimize Visitation -Grow Database + Build Relationship -Destination Stewardship - Brand Positioning 2024 Preliminary Goals- 2024 Preliminary Budget $13,609,221 down 1% from 2023 forecast, flat with actual 2022YTD actuals 2024 Proposed Budget- 2024 Revenue projection $5,430,000 2024 Lodging tax collections projected conservatively. Revenue is forecasted down 2% for next year, but is anticipated flat due to the new Marriott. $5.4million is flat with 2022 Actuals and flat with 2023 forecast Revenue forecast will continue to be monitored and adjusted through the budget process. Total VLMD Budget for 2024- Scenario A: $5,418,582 - Marketing Budget $5,168,582 - Contingency $250,000 - No use of Reserves Scenario B: $6,289,066 - Marketing Budget $5,180,000 - Contingency $250,000 - Use of Reserves $804,066 See Presentation for more detail on Historic Budget Breakout by Category August 17: Request for Board Feedback September 7: Request for Board Approval at Special meeting for VLMDAC • 2024 Campaign Update Shared an initial video clip and exploring all of Vail for ideas The 2024 Campaign can’t include the new brand This is specifically getting the community involved and on -board • July Lodging Report & Insights July gained +10.2% August gained +10.2% Booking pace is up During the Campaign timeframe- there were 6,714 hotel searches, 194 Hotel bookings and $129K Hotel revenue Through July 31st we have spent $16,200 for over 2.2 million impressions generating 21,000 clicks to DiscoverVail.com and 444 clicks to Book Direct Two campaigns coming up- Fall lodging which starts in August (28- October 14) and early Winter lodging (October 30-December 11) to impact 11/10 to 12/18 • Summer Campaign Report & Insights Paid traffic to site- 207,800 new users- 60% of traffic All Digital Channels have generated over 36 million impressions across all in-market channels New Video spot launched August 1st • Town of Vail Updates Appreciation Reception We are getting a full-time coordinator that will take on the content side of things • Other Business • Adjournment Jana called meeting to adjourn first Liana/ second Jonathan/unanimous 11:13am Upcoming Meetings: VLMDAC Special Board Meeting, Thursday, September 7, 2023, Virtual VLMDAC Monthly Board Meeting Thursday, September 21, 2023 Location- Grand View Room VLMD Meeting, Tuesday, September 19, 2023 Location- Vail Town Council Chambers