March 26,2020 ACVB Executive Committee Presentation

ACVB EXECUTIVE COMMITTEE MEETING THURSDAY, MARCH 26, 2020 | 8:00 a.m.

VIA TELECONFERENCE

CALL TO ORDER

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JO ANN HEROLD CHAIR, BOARD OF DIRECTORS

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@christopherbw

PRESIDENT’S REPORT

WILLIAM PATE PRESIDENT AND CEO

DESTINATION REPORT

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MARK VAUGHAN EVP/CSO

ATLANTA OCCUPANCY – FEBRUARY 2020 February 2020 YTD occupancy ACVB tax revenue district

Atlanta convention hotels

Hotels within 1-mile radius of GWCC

Metro Atlanta

Source: STR

2019

2020

74.7%

71.0%

80.7%

78.3%

78.4%

74.1%

64.7%

67.7%

KEY SALES ACTIVITIES Year-to-date booking goal – February Year-to-date lead goal – February

135.2% 121.0%

Direct Sales Events

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Envision SISO CBI Pharma Forum NTA Final Four MPI New England MPI Kansas City Sports Commission PCMA Visionary Conference Direct

Postponed Postponed Canceled Postponed Canceled Canceled Canceled Postponed Postponed Postponed

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FINANCIAL REPORT

GREGORY PIERCE EVP/CAO/CFO

ATLANTA CONVENTION & VISITORS BUREAU STATEMENT OF REVENUE & EXPENSE (in millions) Revenue-public

REVISED ORIGINAL Variance YE FORECAST BUDGET 12/31/20 12/31/20

Revenue-private Reserve transfer Total revenue

$17.8 $1.2 $3.3 $22.3

$27.4 $6.5 $33.9

($9.6) ($5.3) $3.3 ($11.6)

Direct promotional exp.

$10.6

$20.1

$9.5

Payroll & related exp.

$8.8

$10.2

$1.4

Operating exp.

$2.9

$3.1

$0.2

Total expense

$22.3

$33.4

$11.1

Excess (deficiency)

$0.0

$0.5

($0.5)

CONTINGENCY PLAN ITEMS Payroll and related 401k match and discretionary contribution Furloughs – staff Salary freeze/hiring freeze/miscellaneous items Direct promotional expense Program cuts across the board, and still underway (and the effect of removing nearly all private participation) Operating expense Cuts underway involving many vendor contacts/contract review, etc.; more reductions coming

$644,000 $421,000 $335,000 $1,400,000 $ 9,500,000

$200,000

We also have many refunds coming of deposits and items paid for programs no longer happening. This will be a six-figure amount.

Current total:

$11,100,000

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OLD BUSINESS

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NEW BUSINESS

ADJOURN