BOARD OF DIRECTORS MEETING TUESDAY, FEB. 23, 2016 | 8 a.m. FLOURISH
CALL TO ORDER DARYL EVANS CHAIRMAN OF THE BOARD AND EXECUTIVE COMMITTEE
WELCOME TONY CONWAY PRESIDENT & CEO LEGENDARY EVENTS
DESTINATION REPORT MARK VAUGHAN EVP & CSO
Atlanta occupancy – December 2015 December 2015 YTD occupancy
2014
2015
ACVB tax revenue district
70.6%
72.4%
Hotels w/500+ rooms
71.6%
73.6%
Hotels within onemile radius of GWCC
68.7%
71.5%
Metro Atlanta
68.1%
69.9%
Source: STR
Atlanta occupancy – January 2016 January 2016 YTD occupancy
2015
2016
ACVB tax revenue district
69.5%
68.3%
Hotels w/500+ rooms
74.0%
72.4%
Hotels within onemile radius of GWCC
70.4%
69.6%
Metro Atlanta
64.3%
64.1%
Source: STR
Key sales activities • Through January 2016, we are at 102 percent of our room night goal and 111 percent of our lead goal • Demand share growth (December) +.03 (5.68%) in the top 25 markets Direct Sales Events • Conference Direct • Travel South • ASAE Great Ideas • Nat. Assn. Sports Commissions • ASAE Springtime • PCMA Foundation • RTO Summit West • ITB • Active America China
San Antonio Winston-Salem Colorado Springs Grand Rapids Washington Washington Marina Del Rey Berlin Fort Worth
MAJOR GROUPS FOR FUTURE YEARS
Green Up = 10% above average Orange Equals = Within 10% +/- of average Red Down = 10% below average
BOOKINGS
Note: These numbers differ slightly from the Productivity Report due changes in room blocks and distribution of booking credit.
January 2016
Additional Rooms Grand Total
2,458 209,502
2016 YTD
Additional Rooms Grand Total
2,458 209,502
FINANCIAL UPDATE
GREGORY PIERCE EVP/CAO/CFO
ATLANTA CONVENTION & VISITORS BUREAU FINANCIAL STATEMENT SUMMARY WITH FORECAST THROUGH DECEMBER 31, 2015
CONSOLIDATED
CONSOLIDATED
2015
2015
2014
2015
2015
2015
ACTUAL
BUDGET
ACTUAL
YTD
FULL YR
FULL YR
YTD
YTD
YTD
VARIANCE
BUDGET
ACTUAL
SUPPORT & REVENUE Public Sector
21,362,032
20,453,753
20,675,248
908,279
19,698,365
21,362,032
Private Sector
9,783,808
10,078,123
9,951,496
(294,315)
9,792,603
9,783,808
31,145,840
30,531,876
30,626,744
613,964
29,490,968
31,145,840
8,671,755
8,844,771
8,601,433
173,016
8,742,222
8,671,755
743,011
838,825
756,248
95,814
973,510
743,011
19,214,784
18,953,866
18,220,538
(260,918)
17,938,534
19,214,784
1,697,627
1,623,682
1,547,907
(73,945)
1,575,000
1,697,627
30,327,177
30,261,144
29,126,126
(66,033)
29,229,266
30,327,177
818,663
270,732
1,500,618
547,931
261,702
818,663
TOTAL SUPPORT & REVENUE
EXPENSE Payroll & Related Expense Other Operating Expense Direct Promotional Expense Capital Expense
TOTAL EXPENSE
EXCESS(DEFICIENCY) OF REVENUE OVER EXPENSE
2015 Discretionary pension contribution $330,000 contribution to 401k/pension plan allocated to eligible employees on a pro-rata basis based on total compensation (subject to maximum limits) – to be made Q1 2016 (approximately 7 percent of total compensation)
MARKETING UPDATE ANDREW WILSON EVP/CMO
GOOGLE TRENDS
SEARCH INTEREST
YE 2015
“THINGS TO DO IN ATLANTA” Year-over-Year
12% No Forecast Available
“THINGS TO DO IN ATLANTA TODAY” Year-over-Year
18% No Forecast Available
ATLANTA.NET
SITE VISITS
YE 2015
+ 1% v.s. Goal
ATLANTA.NET
PAGES PER VISIT
New site launch
YE 2015
- 8% v.s. Goal
SOCIAL MEDIA
SOCIAL PLATFORMS OVERVIEW Fans/followers
Growth
2015/2014
197,719
19,327
10.83%
78,661
28,757
57.62%
18,967
14,133
292.37%
4,809
1,158
31.72%
Google+
3,360
292
9.52%
Total impressions*
51 million
-3% vs. YA
Total engagement
365 thousand
-16% vs. YA
* Excludes campaigns
YE 2015
ADVERTISING
CAMPAIGNS OVERVIEW
YE 2015
IMPRESSIONS* CONSUMER CAMPAIGNS
59.5 million
+67% vs. YA
6.7 million
-43% vs. YA
(Summer, Halloween, holiday co-ops)
GROUP CAMPAIGNS (Reduced digital spend by 30 percent, shift to print)
* Digital impressions
TELEVISION
PBS PARTNERSHIP
NEW AIRPORT VISITOR CENTER
GUEST SPEAKERS LORENZO D. CREIGHTON PRESIDENT & COO MGM NATIONAL HARBOR
JACOB OBERMAN VP, GLOBAL GAMING DEVELOPMENT MGM RESORTS INTERNATIONAL
Introductions Lorenzo Creighton President & COO MGM National Harbor
Jacob Oberman Vice President, Global Gaming Development MGM Resorts International
The HOPE Scholarship Program
The Success of HOPE
1993 – 2014 $7.3 billion awarded 1.54 million recipients
Source: http://www.gsfc.org/main/ga411info/hope_facts.html
The HOPE Preservation Act www.preservehope.com
The HOPE Preservation Act
Approves destination casino resorts to: Increase funding for HOPE Create jobs Spur economic development and tourism
Keep dollars in Georgia
As Decided By The Voters
Who We Are
About MGM Resorts Fortune 500 Company with iconic brands 18 destination casino resorts in 5 jurisdictions worldwide $10 billion in global revenue + 68,000 employees worldwide Diverse revenue mix across multiple business sectors
The Bellagio
Insert photo of the Bellagio
MGM Grand Las Vegas
Insert photo compilation of MGM Grand and the Mayweather Punch
Lifting the Tide
Partnering in Regional Markets
Undersized Hotels Local Hospitality Partnerships Complimentary Amenities
Partnering in National Harbor, MD Gaylord National Harbor
Source: http://www.bizjournals.com/washington/blog/top-shelf/2015/04/owner-of-gaylord-national-investing-another-20-in.html
Flythrough Flythrough (Video to be played during meeting)
MGM National Harbor
Questions?
GOVERNMENT & COMMUNITY AFFAIRS UPDATE LE
MARCUS MARGERUM VICE PRESIDENT
2016 Georgia General Legislation Summary
HB 218 RFRA Preventing Government Overreach on Religious Act
HB 756
HB 757
HB 816
HB 837
HB 849
HB 870
SB 129
SB 284
RFRA Selling Goods
RFRA Pastor Protection (merged with SB 284)
RFRA Student Religious Liberties Act
RFRA Sovereign Immunity
RFRA Public Accomodations
RFRA Quality Basic Education Act
RFRA
RFRA – 1st Amendment Defense Act
Draft/Prefile 1st Reading Assignment /Committee (Senate/House) 2nd Reading (Senate/House)
x 01/22/16
X 02/10/15
X 01/15/16
X 01/26/16
X 01/27/16 X 02/10/16
Rules Committee 3rd Reading (Senate/House)
CROSSOVER 1st Reading/Committee Assignment (Senate/House)
X 02/11/16
2nd Reading (Senate/House) Rules Committee
X 03/11/2015 X 02/17/16
3rd Reading (Senate/House) Governor’s Office
Updated Monday, February 22, 2016
Page 1
2016 Georgia General Legislation Summary
HB 408 Room Excise Tax 7%
HB 535
HB 677
HB 733
HB 760
HB 791
HB 855
HB 898
Brunch Bill
Casino Gambling Commission
Hotel/ Motel Fee Reduction from $5.00 to $2.50
Stone Mountain Memorial
Ride Share Wheelchair Accessibility
Robert E. Lee's Birthday/ Confederate Memorial Day
Aviation Fuel Tax
X 03/27/15
X 01/14/16
X 01/15/16
X 01/22/16
X 02/01/16
X 02/08/16
Draft/Prefile 1st Reading Assignment /Committee (Senate/House) 2nd Reading (Senate/House) Rules Committee 3rd Reading (Senate/House)
CROSSOVER 1st Reading/Committee Assignment (Senate/House) 2nd Reading (Senate/House)
X 01/11/16
X 01/11/16
Rules Committee
3rd Reading (Senate/House) Governor’s Office
Updated Monday, February 22, 2016
Page 2
2016 Georgia General Legislation Summary
HB 951
HB 956
HR 807
HR 1179
SB 252
SB 277
SB 294
SB 309
Super Bowl Tax Exemption
GA Music Recording & Synchronization Act
Casino Resorts -
Preserve Stone Mountain
Hotel/ Motel $5.00 Fee Repeal
Protecting Small Business (Franchise Bill)
Confederate Holidays
Quality Basic Education Act
Constitutional Amendment
Draft/Prefile 1st Reading Assignment /Committee (Senate/House)
2nd Reading (Senate/House)
X 01/22/16
X 02/11/16
X 02/11/16
X 03/27/15
X 02/01/16
X 01/27/16
X 02/09/16
X 02/16/16
Rules Committee 3rd Reading (Senate/House)
CROSSOVER 1st Reading/Committee Assignment (Senate/House) 2nd Reading (Senate/House) Rules Committee 3rd Reading (Senate/House) Governor’s Office
Updated Monday, February 22, 2016
Page 3
2016 Georgia General Legislation Summary
SB 320
SR 388
SR 675
International Driver’s License
Public Funding for Religious Organizations
English Official Language
Draft/Prefile 1st Reading Assignment /Committee (Senate/House)
X 02/10/16
2nd Reading (Senate/House)
X 02/17/16
Rules Committee 3rd Reading (Senate/House)
CROSSOVER 1st Reading/Committee Assignment (Senate/House)
X 02/17/16
2nd Reading (Senate/House) Rules Committee 3rd Reading (Senate/House) Governor’s Office
Updated Monday, February 22, 2016
Page 4
PRESIDENT’S REPORT E
WILLIAM PATE PRESIDENT & CEO
OLD BUSINESS E
GREGORY PIERCE
NEW BUSINESS
ADJOURN