June 25, 2020 ACVB Board Presentation

ACVB BOARD OF DIRECTORS MEETING Thursday, June 25, 2020 8:00 a.m. via teleconference

CALL TO ORDER Jo Ann Herold

Chair, Board of Directors

REMARKS William Pate President and CEO

DESTINATION REPORT Mark Vaughan EVP/CSO

ATLANTA OCCUPANCY | MAY 2020 May 2020 YTD occupancy

ACVB tax revenue district

TITLE Atlanta convention hotels

TITLE Hotels within 1-mile TITLE radius of GWCC

TITLE

Metro Atlanta

2019

TITLE

77.1%

123 123 123

83.3%

80.7%

123 70.9%

2020

TITLE

TITLE

42.8%

123

123

123

45.3% 123

123

123 45.6%

123

123 47.8%

LARGE GROUPS FOR FUTURE YEARS

KEY SALES ACTIVITY Year-to-date booking goal (May) – 98.8% Year-to-date lead goal (May) – 72.4%

Direct sales events ASAE Annual Meeting – Virtual Atlanta Update IAEE Expo Expo Holiday Showcase – Virtual

Photo by Paul Daniel | @pauldaniel5010

August TBD December December

BOOKINGS

ATLANTA AND GEORGIA COVID-19 TIMELINE First confirmed case in U.S. (Jan. 21)

WHO announces international public health emergency (Jan. 30)

Restrictions on China-to-U.S. travel (Feb. 2)

February Statewide shelter-inplace order (April 2)

Mayor Bottoms orders closure of in-person dining (March 19)

April Mayor Bottoms signs 14-day stay-at-home order (March 23)

Major Atlanta attractions announce temporary closures (March 13)

Mayor Keisha Lance Bottoms orders state-ofemergency and limits gatherings (March 16)

Restrictions on Europeto-U.S. travel (March 11)

First case in Atlanta (March 2) March

NCAA Men’s Final Four canceled (March 12)

Gov. Brian Kemp plans Georgia stay-at- May to begin reopening home order Georgia (April 20) expires (April 30)

MODEX concludes (March 12)

Fulton County Schools close (March 10)

Major Atlanta attractions begin to reopen (May 14)

GROUP ROOMS By event date and status

SCHEDULED FLIGHTS In 2019, an average of 1,200 flights departed from ATL each day. Similar levels were seen in 2020 until late March as airlines canceled the majority of their flights.

After reaching lows of less than 300 flights a day in April and May, current schedules show increases in the number of flights through the end of July.

1,500 1,000 500 -

1/1

2/1

3/1

4/1

2020 Actual

5/1

6/1

7/1

8/1

2020 Scheduled

9/1

10/1

11/1

12/1

2019 Actual As of June 13

MAY 2020 Year to Date

City of Atlanta vs. luxury and upper upscale hotels of top 25 markets

MAY 2020

12-month running total

City of Atlanta vs. luxury and 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

-53% Average occupancy rate for the entire year for the City of Atlanta projected to be

36% to 39%

ATLANTA CONVENTION & VISITORS BUREAU STATEMENT OF REVENUE & EXPENSE (in millions) ACTUAL YTD 05/31/20

FORECAST 6/1/20 THROUGH 12/31/20

CURRENT FULL YEAR FORECAST FYE 12/31/20 Original

Revenue – public

$5.6

$7.4

$13.0

Revenue – private

$0.7

Reserves

$2.5

$2.5

Total revenue TITLE

$8.8123

$10.4

123

$19.2

$34.0 123

Direct promotional expense

$3.9

$4.3

123

$8.2

$20.1 123

Payroll and related expense

$3.9

$0.2

$10.2

Operating expense TITLE

$1.5

Total expense

$9.3

TITLE

TITLE Excess (deficiency)

TITLE

123

$0.5

TITLE

$5.0

$4.5

123

$1.0

123

$9.8

123 ($0.5)

$1.2

$2.5 $19.1

123 $0.6

$27.5

$6.5 TITLE $0.0

$3.1 123 $33.4

123 $0.1

$0.6

ATLANTA CONVENTION & VISITORS BUREAU BALANCE SHEET AS OF 12/31/2019 (in millions) AS OF 5/31/20

YE 2019

VAR.

Cash and equivalents

$2.5

$3.2

($0.7)

Accounts receivable

$1.2

$5.1

($3.9)

TITLE

Investments Prepaid and other assets

TITLE

Property and equipment Total assets

TITLE Accounts payable and accruals

TITLE

Deferred revenue and liabilities Lines of credit Lease liability

TITLE

Fund balance – unrestricted

123 123 123 123

$9.1 $0.4

$3.2 $16.4

$0.9 $8.4 $0.0

TITLE

123 123 123

$11.5 $1.0

$4.1 $24.9

$1.9 $11.9 $1.7

TITLE

($2.4) ($0.6)

123

($0.9) ($8.5)

123

($1.0)

123

($3.5) ($1.7)

$0.7

123 $0.7

$6.4

$8.7

($2.3)

$24.9

($8.5)

Total liabilities and fund balance $16.4

123 $0.0

MARKETING REPORT Andrew Wilson EVP/CMO

RESPONSE TO THE BLM MOVEMENT Due to the protests that started May 29, we pivoted from our planned Still Atlanta/Still Beautiful brand affinity campaign to celebrate past and present Black leaders that have helped make Atlanta the city it is today.

• Started posts June 5, ended June 23 • Goal to feature up to 26 people

• Posts promoted on Instagram, Facebook and Twitter • 300,000 impressions to-date (6/22) • Additional video content promoted via Facebook and Twitter

LOCAL PALATE SUMMER EDITION • Objective: Drive awareness of Atlanta’s food scene • June/July summer entertaining / recipe digital edition • Two full page ads • Still Atlanta • Cookbook • Editorial features three recipes from our cookbook • Distribution over 300K+/-

STILL ATLANTA 2020 Atlanta leisure campaign Recovery and Rebuild t

Opportunity for Atlanta hotels

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 – CREATIVE EXAMPLES

SOCIAL CAMPAIGN – STILL ATLANTA

Twitter post

Instagram post

Instagram stories

PRESIDENT’S REPORT William Pate President and CEO

OLD BUSINESS Gregory Pierce

2020 BOARD ELECTIONS Kimberly Beaudin t

Chick-fil-A College Football Hall of Fame – 2022

NEW BUSINESS

ADJOURN

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