QUARTERLY REPORT 2021 | APRIL • MAY • JUNE SAVE THE DATES
A LETTER FROM THE CEO Welcome to Summer!
What an adventurous 16 months it has been. We are so thrilled to see our economy reopened and our local businesses beginning to rebuild. There are still plenty of challenges ahead, especially with finding good employees and navigating the increase in the costs of goods, but we are hopeful these issues should improve towards the end of the year. From a hotel perspective, things are going better than we could have anticipated. With the pent-up demand for travel, also being referred to as “revenge travel,” there are a lot of potential visitors moving around California, and we are reaping the benefits of this activity. Visit California is also investing significantly in getting Californians to get on board with road trips and travel within the state. The results for our hotel partners are occupancy levels at or above 2019 levels, and average daily hotel rates never before seen in our city. For example, in May, Stockton had an average hotel occupancy of 78% compared to 75.8% in 2019, and an average daily rate of $103.22 compared to $93.17 in 2019. This hotel traffic is primarily leisure travelers so we are keeping our eye on 2022 and how business travel and groups will impact our rates and occupancy post-pandemic. This past quarter has been another busy one. We launched our highly successful Stockton Taco Trail, with over 2,500 pass signups and over 1,700 small business check-ins to date. We also partnered with the City on Stockton on Small Business Week and the Downtown Stockton Investor Summit, continuing our efforts over the past year to support our local small businesses. This month also has our team wrapping-up our Stockton Healthy Pledge program after a year of supporting the health and safety of our local business community. Alongside of our marketing efforts, the development team has been very busy, and 2022 is shaping up to be a busy one as we will host quite a few national and NCAA events. Looking forward, we are excited about our new location and dates for Stockton Brew Fest which will be held on Saturday, September 11 at Weber Point Events Center. This new venue will allow us to continue to enhance and improve the event, all while generating revenue for our Stockton Sports Foundation. Also, this month we have started the distribution of our Stockton Resident Sentiment Survey. This survey will allow us to better understand our organization’s awareness level and position within the community as well as providing us valuable insight into the needs and wants of our community as it relates to special events and quality of life activities. As always, we are here to serve and support our partners and the Stockton community. If you have any feedback or ideas you would like to share, please do not hesitate to reach out.
Wes Rhea, CTA, CDME Chief Executive Officer
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