Board of Directors Meeting Atlanta Convention & Visitors Bureau 8:00 a.m., Wednesday, September 24, 2014 College Football Hall of Fame and Chick-fil-A Fan Experience
Call to Order Chris Womack Chairman of the Board and Executive Committee
Welcome John Stephenson President & CEO
Atlanta Hall Management College Football Hall of Fame and Chick-fil-A Fan Experience
Destination Report Mark Vaughan EVP/CSO
Atlanta Occupancy – August 2014 August 2014 YTD Occupancy
2013
2014
ACVB Tax Revenue District
68.2%
72.5%
Hotels w/500+ rooms
66.2%
71.8%
Hotels within 1-mile radius of GWCC
65.9%
70.3%
Metro Atlanta
64.6%
70.1%
Source: STR
Key Sales Activities • Currently through August we are at 103% of our room night goal and 105% of our lead goal • Demand share growth (August)+.18 (5.60%) in the top 25 markets and +.27 (8.69%) in the top 15 Direct Sales Events • • • • • • •
SportsLink ASAE Summit Awards IMEX Trade Show Gold ASAE Five Star Rejuvenate World Travel Market
Chicago Washington Las Vegas Dana Point Phoenix Atlanta London
Current Major Bookings for Future Years
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August 2014 Bookings
Additional Rooms
8,885
Grand Total
69,893
2014 YTD Bookings
Additional Rooms Grand Total
117,338 1,045,989
Note: These numbers differ slightly from the Productivity Report due changes in room blocks and distribution of booking credit.
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Financial Report Gregory Pierce EVP/CAO/CFO
ATLANTA CONVENTION & VISITORS BUREAU FINANCIAL STATEMENT SUMMARY WITH FORECAST
THROUGH AUGUST 31, 2014
CONSOLIDATED
CONSOLIDATED
2014
2014
2013
2014
2014
2014
ACTUAL
BUDGET
ACTUAL
YTD
FULL YR
FULL YR
YTD
YTD
YTD
VARIANCE
BUDGET
FORECAST
SUPPORT & REVENUE Public Sector
13,972,699
12,744,201
12,722,914
1,228,498
18,732,000
19,182,000
Private Sector
4,215,547
3,598,126
3,676,654
617,421
9,807,278
9,810,000
18,188,246
16,342,327
16,399,568
1,845,919
28,539,278
28,992,000
5,464,050
5,495,383
5,230,232
31,333
8,333,410
8,331,500
525,424
471,843
480,896
(53,581)
908,510
910,000
Direct Promotional Expense
9,607,337
8,849,110
8,877,005
(758,227)
17,563,169
17,988,169
Capital Expense
1,075,062
1,051,915
1,058,239
(23,147)
1,543,000
1,541,500
16,671,873
15,868,251
15,646,372
(803,622)
28,348,089
28,771,169
1,516,373
474,076
753,196
1,042,297
191,189
220,831
TOTAL SUPPORT & REVENUE
EXPENSE Payroll & Related Expense Other Operating Expense
TOTAL EXPENSE
EXCESS(DEFICIENCY) OF REVENUE OVER EXPENSE
Marketing Update Andrew Wilson EVP/CMO
MARKETING DASHBOARD Goal
Actual YTD
YTD vs Goal
Atlanta.net Traffic (Site Visits)
2,180,689
2,419,114
10.9%
Page Views
8,485,850
8,149,247
-4.0%
Referrals to Member Sites
1,156,227
804,474
-30.4%
21,224,399
40,306,926
89.9%
660,000
686,795
4.1%
Leisure Campaigns
10,162,179
13,407,815
31.9%
Group Campaigns
5,118,059
10,110,832
97.6%
Social Media Reach
eNewsletter Impressions
Campaign Impressions
MARKETING DASHBOARD Year Ago
Actual YTD
YTD vs YA
Traffic (Site Visits)
2,291,833
2,419,114
5.6%
Page Views
8,355,424
8,149,247
-2.5%
Referrals to Member Sites
1,070,918
804,474
-24.9%
13,939,733
40,306,926
189.2%
836,565
686,795
-17.9%
1,020,897
13,407,815
1213.3%
734,589
10,110,832
1276.4%
Atlanta.net
Social Media Reach
eNewsletter Impressions
Campaign Impressions Leisure Campaigns Group Campaigns
Buckhead Atlanta Rocell Viniard Regional Marketing Director OliverMcMillan Mary Kathryn Wells Marketing Director Buckhead Atlanta
Lenox Square/Phipps Plaza Sharon Polonia EVP-Leasing Simon
ATLANTA CONVENTION & VISITORS BUREAU BOARD OF DIRECTORS MEETING SHARON POLONIA, EXECUTIVE VICE PRESIDENT - LEASING
AUGUST 2014
RENOVATION PHIPPS PLAZA & LENOX SQUARE
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WHO IS SIMON? • Global leader in retail real estate ownership, management and development • IPO in 1993 • Largest REIT in the world by equity market capitalization • Generate annual retail sales of approximately $65 billion in our U.S. portfolio alone • Only retail real estate company in the S&P 100 • One of the most valuable U.S. companies • Headquartered in Indianapolis with over 1,000 employees in the home office • Fortune’s Most Admired Real Estate Company 5X in past decade
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PORTFOLIO WITH SCALE AND DIVERSITY VALUE
PREMIUM OUTLETS
LUXURY
THE MILLS
REGIONAL MALLS
LUXURY MALLS
• Unique position as property owner, manager, and developer • Ownership and interests in 209 U.S. properties with 183 million sf of retail real estate • Variety of retail formats and consumer price points from value to luxury assets • Largest owner globally of regional malls and outlet centers • 20 Premium Outlets in Asia, Europe, Canada and Mexico
• Ownership interests in Europe through investments in Klépierre and McArthurGlen
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HISTORY AT LENOX SQUARE 1959 – OPEN AIR CENTER
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HISTORY AT LENOX SQUARE 1959 – RIBBON CUTTING
1959 – DAVISON’S DEPARTMENT STORE
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2014 RENOVATION PROJECT OVERVIEW • Comprehensive renovation of Peachtree Road entrance, new glass covered valet and drop-off area, and redesigned two-story façade • New retail line-up at the main entrance including the addition of Nike and three new restaurants: True Food Kitchen, Zinburger Wine & Burger Bar and The Cheesecake Factory • Comprehensive renovation transformed the food court into the Lenox Square Fashion Café, a beautiful new dining area with enhanced lighting features and new tenants • Added new exterior patio with additional seating as well as furniture, electronic charging portals and banquet seating throughout the mall • Atrium enhancements include the addition of a state-of-the-art 13’x18’ rotating digital media screen • New small shop retailers include UGG® Australia, Sperry Top-Sider, Karen Millen and Sprinkles Cupcakes
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EXTERIOR BEFORE
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EXTERIOR TRANSFORMED
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EXTERIOR BEFORE
TRANSFORMED
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INTERIOR BEFORE
TRANSFORMED
49
INTERIOR TRANSFORMED
50
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NEW BRAND CAMPAIGN • Modern. Simple. Refined. Flexible. Timeless.
52
PROJECT OVERVIEW Renovation • New grand chandelier in Court of the South • All new luxury furniture and holiday décor • Updated railing system and warm wood accents throughout the interior • Upgraded and energy-efficient LED lighting • Upgraded guest services booth • Improved parking deck vestibules, including flooring, lighting and automatic doors The Domain at Phipps Plaza • 319 luxury residential units opening Spring 2016 • Amenities will include yoga courts, a health club, an outdoor pool, dog park / washing stations and more AC Hotel by Marriott • 166-room hotel to be located at the corner of Peachtree Road and Wieuca Road opening Winter 2016 • 90 locations in Spain, Portugal, Italy and recently announced North American development plan • Hotel concept is very contemporary, targeting millennial business travelers. Sleek, sophisticated European-inspired aesthetics in the hotel rooms and lobby area
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EXTERIOR – PEACHTREE FAÇADE TRANSFORMED
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COURT OF THE SOUTH BEFORE
TRANSFORMED
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COURT OF THE SOUTH BEFORE
TRANSFORMED
56
MONARCH COURT BEFORE
TRANSFORMED
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PARKING DECK INTERIOR VESTIBULES BEFORE
TRANSFORMED
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DOMAIN AT PHIPPS PLAZA LUXURY RESIDENTIAL DEVELOPMENT
OPENING SPRING 2016
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AC HOTEL BY MARRIOTT AC HOTEL BUCKHEAD
OPENING WINTER 2016
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President’s Report William Pate President & CEO
Old Business
New Business
Adjourn