ACVB EXECUTIVE COMMITTEE MEETING THURSDAY, JANUARY 24, 2019 | 8:00 a.m. ACVB BOARD ROOM
CALL TO ORDER
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DEXTER WARRIOR CHAIR, BOARD & EXECUTIVE COMMITTEE
SUPER BOWL UPDATE BRETT DANIELS COO PLACE IMAGE HERE
ATLANTA SUPER BOWL HOST COMMITTEE
DESTINATION REPORT
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MARK VAUGHAN EVP/CSO
ATLANTA OCCUPANCY – DECEMBER 2018 December 2018 YTD Occupancy ACVB Tax Revenue District
Hotels w/500+ rooms
Hotels within 1-mile radius of GWCC
Metro Atlanta
Source: STR
2017
2018
72.9%
73.6%
75.3%
77.8%
73.0%
75.5%
70.0%
70.1%
KEY SALES ACTIVITIES Through December 2018, we finished 101% of our room night goal and 111% of our lead goal. Direct Sales Events
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PCMA American Bus RCMA NCAA Final Four Destination Showcase Experient Envision CBI Medical Meetings Forum Travel South Conference Direct Partner Meeting
Pittsburgh Louisville Greensboro Minneapolis Washington, D.C. Las Vegas Philadelphia Myrtle Beach Atlanta
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FINANCIAL UPDATE
GREGORY PIERCE EVP/CAO/CFO
ATLANTA CONVENTION & VISITORS BUREAU FINANCIAL STATEMENT SUMMARY WITH FORECAST THROUGH NOVEMBER 31, 2018
CONSOLIDATED
CONSOLIDATED
2018
2018
2017
2018
2018
2018
ACTUAL
BUDGET
ACTUAL
YTD
FULL YR
FULL YR
YTD
YTD
YTD
VARIANCE
BUDGET
FORECAST
SUPPORT & REVENUE Public Sector
23,396,165
22,342,105
21,965,662
1,054,060
23,951,587
24,670,135
Private Sector
3,630,728
2,958,285
7,053,946
672,443
9,067,000
8,852,285
27,026,893
25,300,390
29,019,608
1,726,503
33,018,587
33,522,420
8,324,030
8,435,784
8,252,256
111,754
9,565,102
9,550,000
863,767
877,426
942,088
13,659
837,000
925,000
14,432,861
13,038,268
15,786,995
(1,394,593)
20,330,190
20,601,000
1,648,701
1,578,404
1,730,624
(70,297)
1,899,000
1,925,000
25,269,359
23,929,882
26,711,963
(1,339,477)
32,631,292
33,001,000
1,757,534
1,370,508
2,307,645
387,026
387,295
521,420
TOTAL SUPPORT & REVENUE
EXPENSE Payroll & Related Expense Other Operating Expense Direct Promotional Expense Capital Expense
TOTAL EXPENSE
EXCESS(DEFICIENCY) OF REVENUE OVER EXPENSE
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2018 ANNUAL DISCRETIONARY PENSION CONTRIBUTION
STAN WILSON VICE CHAIR FINANCE & HUMAN RESOURCES COMMITTEE
2018 DISCRETIONARY PENSION CONTRIBUTION (prior years contributions)
•2017 contribution = $290,000 •2016 contribution = $330,000 •2015 contribution = $330,000 •2014 contribution = $250,000 •2013 contribution = $150,000 •2012 contribution = $200,000 •2011 contribution = $200,000 •2010 contribution = $151,000 •(zero for 2008-2009)
• 2018 contribution option A= $290,000 (equal to 2018) • Approximately 5% of eligible total compensation • 2018 contribution option B= $350,000 • Approximately 6% of eligible total compensation
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@christopherbw
PRESIDENT’S REPORT
WILLIAM PATE PRESIDENT & CEO
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OLD BUSINESS
ADJOURN