acvb board presentation | 9-24-14
DESCRIPTION
Atlanta Convention & Visitors Bureau - September 2014 Presentation to the BoardTRANSCRIPT
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Board of Directors MeetingAtlanta Convention & Visitors Bureau
8:00 a.m., Wednesday, September 24, 2014College Football Hall of Fame and
Chick-fil-A Fan Experience
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Chris Womack
Chairman of the Boardand Executive Committee
Call to Order
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John StephensonPresident & CEO
Atlanta Hall ManagementCollege Football Hall of Fame
andChick-fil-A Fan Experience
Welcome
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Mark VaughanEVP/CSO
Destination Report
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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
Atlanta Occupancy – August
2014
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• 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 Chicago• ASAE Summit Awards Washington • IMEX Las Vegas• Trade Show Gold Dana Point• ASAE Five Star Phoenix• Rejuvenate Atlanta• World Travel Market London
Key Sales Activities
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Current Major Bookings for Future Years
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August 2014 Bookings
2014 YTD Bookings
Additional Rooms 8,885
Grand Total 69,893
Additional Rooms 117,338
Grand Total 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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Gregory PierceEVP/CAO/CFO
Financial Report
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ATLANTA CONVENTION & VISITORS BUREAU
FINANCIAL STATEMENT SUMMARY WITH
FORECAST
THROUGH AUGUST 31, 2014
CONSOLIDATED CONSOLIDATED
2014 2014 2013 2014 2014 2014
ACTUAL BUDGET ACTUAL Y T D FULL YR FULL YR
Y T D Y T D Y T D 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
TOTAL SUPPORT & REVENUE 18,188,246 16,342,327 16,399,568 1,845,919 28,539,278 28,992,000
EXPENSE
Payroll & Related Expense 5,464,050 5,495,383 5,230,232 31,333 8,333,410 8,331,500
Other Operating Expense 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
TOTAL EXPENSE 16,671,873 15,868,251 15,646,372 (803,622) 28,348,089 28,771,169
EXCESS(DEFICIENCY) OF REVENUE
OVER EXPENSE 1,516,373 474,076 753,196 1,042,297 191,189 220,831
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Andrew WilsonEVP/CMO
Marketing Update
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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%
Social Media Reach 21,224,399 40,306,926 89.9%
eNewsletter Impressions 660,000 686,795 4.1%
Campaign Impressions
Leisure Campaigns 10,162,179 13,407,815 31.9%
Group Campaigns 5,118,059 10,110,832 97.6%
MARKETING DASHBOARD
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Year Ago Actual YTD YTD vs YA
Atlanta.net
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%
Social Media Reach 13,939,733 40,306,926 189.2%
eNewsletter Impressions 836,565 686,795 -17.9%
Campaign Impressions
Leisure Campaigns 1,020,897 13,407,815 1213.3%
Group Campaigns 734,589 10,110,832 1276.4%
MARKETING DASHBOARD
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Rocell ViniardRegional Marketing Director
OliverMcMillan
Mary Kathryn WellsMarketing DirectorBuckhead Atlanta
Buckhead
Atlanta
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Sharon PoloniaEVP-Leasing
Simon
Lenox Square/Phipps
Plaza
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ATLANTA CONVENTION & VISITORS BUREAU BOARD OF DIRECTORS MEETING
AUGUST 2014
SHARON POLONIA, EXECUTIVE VICE PRESIDENT - LEASING
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RENOVATIONPHIPPS PLAZA & LENOX SQUARE
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WHO IS SIMON?
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• 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
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• 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
PREMIUM OUTLETS THE MILLS REGIONAL MALLS LUXURY MALLS
VALUE LUXURY
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HISTORY AT LENOX SQUARE
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1959 – OPEN AIR CENTER
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HISTORY AT LENOX SQUARE
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1959 – RIBBON CUTTING 1959 – DAVISON’S DEPARTMENT STORE
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2014 RENOVATIONPROJECT 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
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BEFORE
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EXTERIOR
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TRANSFORMED
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EXTERIOR
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BEFORE TRANSFORMED
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INTERIOR
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BEFORE TRANSFORMED
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INTERIOR
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TRANSFORMED
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NEW BRAND CAMPAIGN
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• Modern. Simple. Refined. Flexible. Timeless.
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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
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TRANSFORMED
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COURT OF THE SOUTH
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BEFORE TRANSFORMED
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BEFORE TRANSFORMED
COURT OF THE SOUTH
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MONARCH COURT
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BEFORE TRANSFORMED
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BEFORE TRANSFORMED
PARKING DECKINTERIOR VESTIBULES
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DOMAIN AT PHIPPS PLAZA
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LUXURY RESIDENTIAL DEVELOPMENT
OPENING SPRING 2016
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AC HOTEL BY MARRIOTT
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AC HOTEL BUCKHEAD
OPENING WINTER 2016
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William PatePresident & CEO
President’s Report
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Old Business
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New Business
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Adjourn