Cultural Council Pres - 4.28.09 - ST

Slide 1: 

Palm Beach County Tourism New Vision for Turbulent Times

Slide 2: 

Agenda State of Industry New Direction Culture/CVB synergy

THE PERFECT STORM : 

THE PERFECT STORM 2006 CVB CRISIS EXPLOSIVE CARIBBEAN & LATIN AMERICAN COMPETITION 2007 HOUSING BUBBLE BURST & ECONOMIC NOSEDIVE YEARS OF DIMINISHING MARKET PRESENCE FLORIDA DESTINATIONS INCREASING MARKET PRESSURE $4/PER GALLON 2008 ECONOMIC MELTDOWN & AIG SCANDAL 2009 POLITICAL RHETORIC DEVASTATE CORPORATE MEETINGS

Truth & Consequences : 

Occupancy chart Truth & Consequences 5 year decline in occupancy

Slide 6: 

Truth & Consequences Rate Erosion Begins January/February 2009 Down 18%

Slide 7: 

Truth & Consequences Subpar Competitive Set Performance

Truth & Consequences : 

Truth & Consequences Tourism Depression (not recession) since 2007

Slide 9: 

Year-to-Date Feb .2008 vs. Feb. 2009 %Change Occupancy 74.2% 66.9% -9.9% ADR $207.21 $170.16 -17.9% RevPAR $153.66 $113.76 - 26.0% 2009 Bottom Falls Out

Good News:People are still traveling : 

Source: Y Partnership Good News:People are still traveling 71% of active travel households are planning a trip during the next 6 months 82% of travel households with annual HHI > $75K planning overnight trip during the next 6 months Almost half (48%) state their travel plans will not change as a result of the financial crisis Three out of ten U.S. leisure travelers willing to select a different destination if the promotional offer is sufficiently compelling

Travelers are Trading Down,Not Out : 

Source: Y Partnership Travelers are Trading Down,Not Out 76% book packaged vacation to save money 75% spend less overall 67% stay fewer nights 58% comparison shop online Value is King

Out of Sight – Out of Mind : 

Out of Sight – Out of Mind It’s not your Grammas' Palm Beach anymore

Out of Sight – Out of Mind : 

Competitive Media Budgets Out of Sight – Out of Mind How to lose Market Share

Slide 14: 

New Direction Total reassessment of Tourism assets Strong focus on Research and ROI Major shift to “online” and content acquisition. Support product development

Slide 15: 

2020 VISION: Visitors - 4.7 million to 10 Jobs - 53,000 to 100,000 Rooms - 16,000 to 25,000 Occupancy - 67% to 80% Economic Impact: from $2.8 billion to $6 billion All Sustainable; All Enhancing our Quality of Life

Slide 16: 

Before

Slide 17: 

Our Tourism Assets Florida’s Cultural Capital 200 Hotels 16,000+ Rooms 170 Golf Courses 47 Miles of Coastline 125 Miles of Waterways Lake Okeechobee Everglades 350,000 sq. ft. Convention Center Rich Tradition of Hospitality 9 Geo-Clusters 38 Towns and Cities 63 Parks & Eco-sites

Slide 18: 

Palm Beach County Tourism Geo Clusters

Slide 19: 

Value Cluster

Cultural Council and CVB Synergy : 

Cultural Council and CVB Synergy

Key Consumer Group: Target and attract the 120+ million travelers seeking a cultural/heritage experienceKey Objectives: Distinguish the greater Palm Beaches as a premier cultural/heritage destinationPromote the rich heritage and multitude of cultural experiences to prospective investors and current stakeholders : 

Key Consumer Group: Target and attract the 120+ million travelers seeking a cultural/heritage experienceKey Objectives: Distinguish the greater Palm Beaches as a premier cultural/heritage destinationPromote the rich heritage and multitude of cultural experiences to prospective investors and current stakeholders

Slide 22: 

Print Advertisements promotions in newspaper and magazine COLLABORATIVE INITIATIVES: Strong collaboration to jointly promote PBC to travelers and engage cultural organization leaders in tourism campaigns

Slide 26: 

75 participating hotels 60% Room Inventory

Slide 27: 

Florida Trust for Historic Preservation - Annual Conference, May 2009 Sponsor & Participant Cultural heritage travel alliance - Annual conference November 2008 Sponsor & Participant. Special Events

Slide 28: 

New CVB website Section will focus on the historic experiences in PBC with links out to cultural organizations; launching in August 2009 Cultural/historic/architectural tours, historic neighborhoods/sites, cultural venues/events/shows, workshops, performing/visual arts Content Distribution Web Strategies

Online Marketing Partnerships : 

Online Marketing Partnerships Heritage Travel website contracted with the National Trust for Historic Preservation as a preferred destination; launching in July/August 2009 Enables all cultural/historic organizations in PBC to be listed with links back to their website

Slide 32: 

Conclusion/Actions Crisis dictates Tactical Value based campaign (1909 Founders Package) CVB reaching out to all cultural institutions to support campaign. Open invitation to dialogue on enhancing cultural tourism Sign up for Discover E-News.

Thank You. : 

Thank You.