ACVB EXECUTIVE COMMITTEE MEETING Thursday, January 21, 2021 8:00 a.m. via teleconference
CALL TO ORDER Kris Reinhard
Chair, Board of Directors
DESTINATION REPORT Mark Vaughan EVP/CSO
ATLANTA OCCUPANCY – DECEMBER 2020
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Source: STR
KEY SALES ACTIVITIES 2020 room night actual 2020 lead goal actual
90.0% 44.0%
Direct sales events
• •
Photo by Paul Daniel | @pauldaniel5010
PCMA – virtual RCMA – Charlotte
January March
FINANCIAL REPORT Gregory Pierce EVP/CAO/CFO
2020 FORECAST ASSUMPTIONS FOR THE PURPOSE OF FINANCIAL PROJECTIONS Hotel revenue for the entire year for the City of Atlanta projected to be down PLACE IMAGE HERE
63% to 64% Average occupancy rate for the entire year for the City of Atlanta projected to be between
35% to 36% @christopherbw
ATLANTA CONVENTION & VISITORS BUREAU STATEMENT OF REVENUE AND EXPENSE (in millions) Revenue – public Revenue – private Public revenue released/reserves Total revenue
ACTUAL FORECAST YTD YTD 12/31/20 12/31/20
$9.9 $3.1 $5.0
$10.1 $ 2.8 $ 5.0
$18.0
$17.9
Var Original 2020 ($0.2) $27.5 $0.3 $ 6.5 $0.0 $ 0.0 $0.1 $34.0
Direct promotional expense
$7.6
$7.4
($0.2)
$20.1
Payroll and related expense Operating expense Total expense
$8.8 $1.9 $18.3
$8.5 $2.0 $17.9
($0.3) $0.1 ($0.4)
$10.2 $ 3.1 $33.4
Excess (deficiency)
($0.3)
$0.0
($0.3)
$ 0.6
ATLANTA CONVENTION & VISITORS BUREAU BALANCE SHEETS (in millions)
AS OF 12/31/20
YE 2019
Var.
Cash and equivalents
$2.2
$3.2
($1.0)
Accounts receivable
$3.2
$5.1
($1.9)
Investments
$6.5
$11.5
($5.0)
Prepaid and other assets
$0.5
$1.0
($0.5)
Property and equipment
$2.9
$4.1
($1.2)
Total assets
$15.3
$24.9
($9.6)
Accounts payable and accruals
$0.9
$1.9
($1.0)
Deferred revenue and liabilities
$7.5
$11.9
($4.4)
Lines of credit
$1.5
$1.7
($0.2)
Lease liability
$0.7
$0.7
$0.0
Fund balance – unrestricted
$4.7
$8.7
($4.0)
Total liabilities and fund balance
$15.3
$24.9
($9.6)
MARKETING UPDATE
Andrew Wilson EVP/CMO
MARKETING GOALS – 2020 Period
Destination Demand
Content Distribution Brand Engagement
2020
113
112
128
Q4 Q3 Q2 Q1
113 114 108 104
127 105 96 105
150 108 104 117
MARKETING GOALS BUILT ON THE BERNHARDT ENGAGEMENT INDEX CONCEPT
Destination Demand
Content Distribution
Brand Engagement
Demand (room nights)
Website page views
Transient leisure weekend demand
Social media impressions
Social shares, likes, comments, re-pins, retweets
Attendance vs MP expectation
eCRM distribution
Video views Display ad impressions
[Quarterly/bi-annual Syndicated content perception tracking study] impressions
Page views/visit mobile Page views/visit desktop Email open rate Email opt-ins
TV/radio GRPs
PPC clicks
Print distribution
Website ad clicks/visit
Out-of-home audience reach
Member page clicks/visit Video channel subscriptions
BUCKHEAD EXPEDIA CO-OP CAMPAIGN Dec. 1, 2020 – Jan. 15, 2021
Key highlights for Buckhead market on Expedia portfolio: • • • • •
25% increase in travelers per day 35% increase in gross bookings per day 10% increase in average spend per traveler per day 30% increase in room night demand 5% increase in ADR
DISCOVER ATLANTA WEBSITE RELAUNCH Q4 HIGHLIGHTS Consolidated Atlanta.net and AtlantaMeetings.com into DiscoverAtlanta.com
No media investment to support change in domain (COVID-19 budget cuts) • +31% increase in traffic vs Q3 and improved from -59% Q3 to -38% Q4 YOY
• +53% increase in page views per visit to +/-2.75 (highest we have ever recorded)
PRESIDENT’S REPORT William Pate President and CEO
OLD BUSINESS
HONORARY MEMBER ELECTIONS t
Daryl Evans Great Southern Wood Preserving (YellaWood)
NEW BUSINESS
ADJOURN
DiscoverAtlanta.com