QUARTERLY REPORT // 2020 OCTOBER • NOVEMBER • DECEMBER A LETTER FROM THE CEO
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Welcome to 2021! Over the past nine or so months so many of us have experienced unprecedented hardships and challenges. The hospitality industry has borne the brunt of the negative economic impacts from the public health mandates, and yet more challenges lie ahead. While there is an end in sight, with the current stay-at-home order our hotels, restaurants and attractions continue to directly feel the financial impacts every day. Our team continues to work daily to support our industry and work with local businesses as we navigate this pandemic together. While our hotel partners, especially upscale and upper midscale, struggle with the lack of business and group travel, our region has fared better than many. We have seen some moderate year over year rate growth through November (up about 2%), and occupancy year to date is down less than 11%. We continue to develop leads for future group business and are hopeful summer will bring some moderate recovery as we look to relaunch our statewide marketing efforts. Our current efforts include: • Stockton Healthy Pledge – Launched in May, the voluntary pledge is now 300 businesses strong and growing. We have provided window clings, PPE, floor decals, and significant marketing support to these businesses committed to the health and safety of our community. Learn more at StocktonHealthyPledge.com • City of Stockton Small Business Relief Grant Program – As mentioned last quarter, Visit Stockton has partnered with the City’s Economic Development Department to administer this program by providing assistance in reviewing grant applications, processing grant payments to the local business recipients, and completing the future tax reporting. To date, we have processed nearly $2.3 million in grant dollars directly to the Stockton small business community. This program is funded by the City through the state and federal CARES Act dollars allocated for COVID-19 relief. • Stockton Restaurant Week – Now in our 12th year, this year’s event is focused on supporting local restaurants by encouraging take-out and delivery. This year we have launched a new mobile dining pass to better engage local residents with information and giveaways. Learn more at StocktonRestaurantWeek.com. Our team is here for you. If there is an effort, project, idea or cause that you believe Visit Stockton should focus on, please do not hesitate to share. While we cannot take on every project, knowing the needs in our community may allow us to pass the idea on to another great community organization. Recovery is a team effort, and we are all in this together. Stay well and continue to be #StocktonTrue
Wes Rhea, CTA, CDME Chief Executive Office
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