ACVB EXECUTIVE COMMITTEE MEETING Thursday, August 27, 2020 8:00 a.m. via teleconference
CALL TO ORDER Jo Ann Herold
Chair, Board of Directors
DESTINATION REPORT Mark Vaughan EVP/CSO
ATLANTA OCCUPANCY – JULY 2020 July 2020 YTD occupancy
TITLE
2019
TITLE
2020
TITLE
ACVB tax revenue district
123
76.8% 123
38.5%
123
Atlanta convention hotels TITLE
123
82.7% 123
37.8%
123
HotelsTITLE within 1-mile radius of GWCC
123
80.2% 123
38.6%
123
MetroTITLE Atlanta
123
71.6% 123
47.6%
123
TITLE
LARGE GROUPS FOR FUTURE YEARS
KEY SALES ACTIVITIES Year-to-date booking goal – July Year-to-date lead goal – July
98.5% 57.8%
Direct Sales Events ASAE Annual Meeting (virtual) IAEE Expo! Expo! Holiday Showcase (virtual)
Photo by Paul Daniel | @pauldaniel5010
August December December
BOOKINGS
GROUP ROOMS BY EVENT DATE AND STATUS
JULY 2020 YTD City of Atlanta vs. luxury upper upscale hotels of top 25 markets
JULY 2020 12-MONTH RUNNING TOTAL City of Atlanta vs. luxury upper upscale hotels of top 25 markets
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
55% to 60% PLACE IMAGE HERE
Average occupancy rate for the entire year for the City of Atlanta projected to be between
36% and 39% 2020 hotel tax will be equivalent to ACVB HT revenue in
1997 2021 hotel tax will be equivalent to ACVB HT revenue in @christopherbw
2013
ATLANTA CONVENTION & VISITORS BUREAU STATEMENT OF REVENUE AND EXPENSE (in millions) Revenue – public Revenue – private
ACTUAL FORECAST CURRENT FULL YTD 8/1/20 thru YEAR FORECAST 07/31/20 12/31/20 FYE 12/31/20 Original $6.5 $5.0 $11.5 $27.5 $1.4 $0.0 $1.4 $6.5
Public revenue released/reserves Total revenue
$2.5 $10.4
$2.5 $7.5
$5.0 $17.9
$0.0 $34.0
Direct promotional expense Payroll and related expense
$2.5 $4.9
$4.8 $3.5
$7.3 $8.4
$20.1 $10.2
Operating expense
$1.8
$0.4
$2.2
$3.1
Total expense
$9.2
$8.7
$17.9
$33.4
Excess (deficiency)
$1.2
($1.2)
$0.0
$0.6
ATLANTA CONVENTION & VISITORS BUREAU BALANCE SHEETS (in millions)
AS OF 07/31/20
YE 2019
Var.
Cash and equivalents
$1.9
$3.2
($1.3)
Accounts receivable
$1.5
$5.1
($3.6)
Investments
$9.0
$11.5
($2.5)
Prepaid and other assets
$0.5
$1.0
($0.5)
Property and equipment
$3.2
$4.1
($0.9)
Total assets
$16.1
$24.9
($8.8)
Accounts payable and accruals
$1.1
$1.9
($0.8)
Deferred revenue and liabilities
$8.3
$11.9
($3.6)
Lines of credit
$1.0
$1.7
($0.7)
Lease liability
$0.6
$0.7
($0.1)
Fund balance – unrestricted
$5.1
$8.7
($3.6)
Total liabilities and fund balance
$16.1
$24.9
($8.8)
MARKETING REPORT Andrew Wilson EVP/CMO
STILL ATLANTA
2020 Atlanta leisure campaign Recovery and Rebuild
t
OVERVIEW Integrated Southeast regional marketing campaign • • • • • • •
Objective to boost leisure hotel bookings Q3/Q4 ACVB to boost hotel investment by +700% Hotel participation limited to City of Atlanta Tiered pricing structure: first-come, first-served ACVB to partner with Expedia Group for conversion component Media to run across social, radio and digital Target markets: 6-hour Southeast drive market (weekend getaway) Metro Atlanta (backyard adventure) • Target audience: Creative class – skewing younger, no kids Families with kids Attractions, shopping centers, tour companies (food, brewery, movie, etc.), restaurants to provide compelling value-add offers
CAMPAIGN TIMELINE
Investment June
Social
Radio
$35k
$30k
Digital (Expedia) $80k
Paid social media affinity messaging to lead conversion messaging
July August
September
Radio promotional giveaways to start when Expedia program launches
3-month Expedia program to launch July 1
EXPEDIA CAMPAIGN RESULTS (7/1 – 8/16) Campaign Performance Summary – DMO Partner IO Number is "274600"
FILTERS
2020-08-16 Current To
Brand Name
Advertiser Name
Campaign Manager
Atlanta Convention & Visitors Bureau
Atlanta Convention & Visitors Bureau
Elizabeth Vukelich
POS Name
$2.5M
$38.8K
4.3M
63.3
Attr Gross Booking to Date
Total Ad Spend
Total Impressions
ROAS
Gross Bkg By Wk
Ad Spend By Wk
Imp By Wk
ROAS
1M
$400K
$5K
$0K
$0K Jul 6
Jul 20
Aug 3
Jul 20
Hotels.com
Passport Ads
75
500K
50
250K
25
0K Jul 6
Expedia.com
100
750K $200K
Expedia Brands Portfolio US
0
Aug 3
Jul 6
Jul 20
Aug 3
Jul 6
Jul 20
Aug 3
Campaign Summary Order Name
Start Date
End Date
2020 Atlanta recovery campaign- $80k
2020-07-01
2020-11-30
Ad Spend $38.8K
Impressions 4.3M
Clicks
CTR
3,194
Tickets
0.07%
Room Nights
7.1K
Gross Bkg $
8.5K
$2.5M
Generatedby
ROAS
63.3
on August 19, 2020 at 7:33am PDT
EXPEDIA CAMPAIGN RESULTS (7/1 – 8/16)
Launched campaign
EXPEDIA CAMPAIGN RESULTS (7/1 – 8/16)
SOCIAL MEDIA AFFINITY CAMPAIGN (ONGOING) Total impressions:
8.5 million
Total engagements:
475k
Landing page views:
10k
Still Atlanta launch video with nearly 200k video views
Expedia Facebook Story ad garnered more than 1 million impressions
NEW WEBSITE AND MARTECH PLATFORM Mission Provide relevant information to interested travelers about Atlanta when they want it in a format they desire most. More than a website, develop an innovative marketing technology platform.
Strategy Deliver relevant stories across articles, video and content on Atlanta attractions, festivals, dining and things to do, to those traveler and planner personas based on where users are in their journey, interests and geo location.
DOMAIN / NAMING STRATEGY
Launch DiscoverAtlanta.com
Transition Atlanta.net and AtlantaMeetings.com content to DiscoverAtlanta.com Rebrand AtlantaNow and the Event Planner print publications to: ○ DiscoverAtlanta Now ○ Discover Atlanta Meetings & Events
PRESIDENT’S REPORT William Pate President and CEO
OLD BUSINESS
2020 BOARD ELECTIONS t
Kimberly Beaudin Chick-fil-a College Football Hall of Fame 2022
NEW BUSINESS
ADJOURN
DiscoverAtlanta.com