Development Council Meeting May 15, 2019 5.15.2019 Meeting to - - PowerPoint PPT Presentation

Columbia County Tourist Development Council Meeting May 15, 2019

5.15.2019

Meeting to Order

▪ Call to Order ▪ Pledge to the United State Flag ▪ Roll Call ▪ Staff or TDC Member Additions or Deletions to Agenda ▪ Approval of Agenda

Approval of Minutes

April 3, 2019 Meeting

5.15.2019

3

Operations Report Bed Tax

2018 2019 $$ (+/-) % (+/-)

March

$131,559 $ 128,302 ($ 3,257)

• 2.48

2019 Fiscal Year

$822,081 $767,452 ($54,629)

• 6.65%

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Operations Report – STR March 2019 vs. March 2018

March

2019

March 2019/ March 2018

% Increase or Decrease

Occupancy Rate 76.3% 6.2% ADR

(Average Daily Rate)

$ 94.77 3.9% REVpar

(Revenue Per Available Room)

$ 72.29 10.3%

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Operations Report – STR Calendar Year March 2019 vs. March 2018

2018 2019/2018

% Increase or Decrease

YTD Occupancy Rate 67.4% 2.4% YTD ADR

(Average Daily Rate)

$ 91.14 3.1% YTD REVpar

(Revenue Per Available Room)

$ 61.43 5.5%

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Operations Report Financial Report

Financial Reports Receipt Acknowledgement

5.15.2019 7

Olustee Battle Festival

Economic Impact Presentation

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Joseph St. Germain, Ph.D. Phillip Downs, Ph.D. Rachael Anglin Isiah Lewis Glencora Haskins

Olustee Battle Festival

Visitor Tracking & Economic Impact Estimate for the Olustee Battle Festival

February 15-17, 2019

Total Economic Impact

$1,363,700

When including indirect and induced effects¹

• f direct spending, the total economic impact
• f people attending the Olustee Battle Festival

who li live outsid ide of Columbia County was $1,363,700.²

____________________________________________ ¹Indirect effects are increased business spending resulting from tourism dollars. Induced effects are increased household spending resulting from tourism dollars. ²For accommodations, restaurants, groceries, transportation, attractions, entertainment, tickets, shopping, and “other” expenses.

2

Direct Spending

$921,400¹

People who li live outside of Columbia County spent $921,400¹ during the Olustee Battle Festival.

__________________________________________ ¹For accommodations, restaurants, groceries, transportation, attractions, entertainment, tickets, shopping, and “other” expenses.

3

Out-of-County Visitors

3,956

Including overnight visitors and day trippers, there were 3,956 individuals from outside Columbia County who attended the Olustee Battle Festival.¹

_______________________________

¹An estimate of 23,273 total attendees and 14,476 unique attendees was used for this report and directly affects economic impact. 4

Paid Room Nights Generated

1,439 room nights

Attendees of the Festival spent 1,439 room nights in Columbia County.

5

Profile of Out-of-Town Attendees of the Olustee Battle Festival 2019

• 2.8 average travel party size
• 36% traveled with children 18 or under
• 1.7 average nights stayed in Columbia County
• 94% of visitors drove to Columbia County
• 56 years old – median age
• 55% Female
• $70,700 - median household income

6

Or Origi igin n of Ol Olust ustee ee Ba Battle e Fe Fest stival al Atten endee dees

Jacksonville 33% Atlanta 12% Gainesville 12% Miami-Ft. Lauderdale 6% Lakeland 5% Ocala 5% Tallahassee 3% Orlando 3% Pensacola-Mobile 2% Tampa-Clearwater-St. Petersburg 2%

Top Out-of-County Markets

7

Methodology

• The economic impact was based on data from the following sources:
• Interviews conducted at the Olustee Battle Festival of 352 attendees and 32

vendors.

• Columbia County Division of Tourism.
• Tourism database at Downs & St. Germain Research.

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Ol Olust stee ee Battle e Fe Fest stiv ival al Visi sitor

• r Track

cking g & E & Eco conom

• mic

ic Imp mpact ct Re Repo port

Joseph St. Germain, Ph.D., President, joseph@dsg-research.com Phillip Downs, Ph.D., Senior Partner, pd@dsg-research.com Rachael Anglin, Senior Project Director, rachael@dsg-research.com Isiah Lewis, Project Director, isiah@dsg-research.com Glencora Haskins, Project Director, glencora@dsg-research.com Downs & St. Germain Research 850-906-3111: www.dsg-research.com

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Sports Facility Advisory

Feasibility Study Presentation

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C O L U M B I A C O U N T Y M U LT I - P U R P O S E F I E L D C O M P L E X

F i n a l P r e s e n t a t i o n M a y 1 5 , 2 0 1 9

A G E N D A

• Project Overvie

iew – Scope of Work, Defining Success

• SFA|SFM

SFM Overvie view w – Who We Are, What We Do

• Mark

rket t Overvie view w – Local and Regional Facilities, Events, and Participation

• Facilit

lity Overvie view – Facility Program Options, Development Costs

• Financ

ancial ial Perform rformanc ance e Overvie iew w – Revenue, Expenses, EBITDA

• Econ
• nom
• mic

ic Impact act Overvie iew – Number of Events, Per Person Spending, Economic Impact

• Ques

esti tion

• ns and Answers

ers

P R O J E C T O V E R V I E W

SFA and Huddle Up Group (HUG) were engaged by Columbia County to produce a feasibility analysis related to the development of a new outdoor multi-purpose field facility. Scope of work includes:

• Project Kick-Off Call
• Existing Data Review, Market Analysis, Market Visit, BDPS
• Detailed Financial Forecast (Pro Forma)
• Economic Impact Analysis
• Feasibility Report
• Onsite Presentation of Findings

P R O J E C T O V E R V I E W

Definitions of Success:

• The facility must become a premiere multi-purpose field complex that

attracts, hosts, and retains multi-purpose field sports tournaments and events.

• The facility must create a significant driver of economic impact, generating

new spending from non-local visitors who would not be in Columbia County but for events held at the complex.

• The facility must enhance the sense of pace and quality of life in the

community by improving local access to sports and recreation in terms of time, cost, and location.

D E F I N I N G S U C C E S S – O P E R A T I O N S

S F A | S F M O V E R V I E W

Hist story

• Founded in 2003
• 2,000+ Clients Served
• $10 Billion+ in Planned Venues

Clients ients

• Public
• Private
• Institutional
• Public/Private Partnerships

Resul sults s & Rea each ch

• 50 Million Visits Since 2015
• Nine Facilities In Development in 2017
• The Largest Youth & Amateur Sports Database in the U.S.
• Partners in Improving the Health & Economy of Communities

Industry ustry-Lead eading ing Developme lopment nt & Manageme nagement nt Services ces Facility Development Outsourced Management National Network of Venues Operational Efficiency and Effectiveness “Concept to Concrete” Planning ning & Fundin nding g Services ces Strategic Program Planning Institutional-Grade Forecasting National Benchmarks and KPIs Project Finance Support Services

A B O U T S F A | S F M

M A R K E T O V E R V I E W

T H E R E G I O N A L M A R K E T

15,811,984 people within a 4-hour drive time.

R E G I O N A L E V E N T S

R E G I O N A L F A C I L I T I E S

T H E L O C A L M A R K E T

Category 15 minutes 30 minutes 60 minutes Population 43,454 94,627 573,718 Median Age (U.S. Avg.: 38) 40.4 40.3 36.1 Median HH Income (U.S. Avg.: $51,900) $41,687 $41,869 $43,536 % Above/Below Adjusted Cost of Living (Index: 106.2)

• 15%
• 15%
• 11%

Growth Projections – Next 5 Years 2.30% 2.85% 3.95% Spending (Rec. Lessons) $78 $74 $87

S P O R T S P A R T I C I P A T I O N

Potential Participants by Traditional Sport (Sample)

Sport Core Participation Local Participants (30 Minutes) Sub-Regional Participants (60 Minutes) Regional Participants (240 Minutes)

Soccer 3.27% 3,093 18,750 516,755 Football 1.57% 1,489 9,026 248,764 Flag Football 1.10% 1,039 6,298 173,572 Lacrosse 0.50% 470 2,849 78,510 Field Hockey 0.23% 222 1,346 37,102

F A C I L I T Y O V E R V I E W

F A C I L I T Y M O D E L S A N A L Y Z E D

12 Field Model

• Fields
• 8 Synthetic Turf Fields
• 4 Natural Grass Fields
• Support Amenities
• 1 Primary Building
• 2 Secondary Buildings
• 2 Pavilion Seating Areas
• 1 Playground

Site Development

• 1,080 Parking Spaces
• 73.3 Total Acres

8 Field Model

• Fields
• 2 Synthetic Turf Fields
• 6 Natural Grass Fields
• Support Amenities
• 1 Primary Building
• 1 Secondary Buildings
• 2 Pavilion Seating Areas
• 1 Playground

Site Development

• 720 Parking Spaces
• 49.0 Total Acres

F A C I L I T Y O V E R V I E W – 1 2 F I E L D M O D E L

O P I N I O N O F C O S T – B O T H M O D E L S

F I N A N C I A L P E R F O R M A N C E O V E R V I E W

R E V E N U E – 1 2 F I E L D M O D E L

E X P E N S E S – 1 2 F I E L D M O D E L

E B I T D A – B O T H M O D E L S

Year 1 Year 2 Year 3 Year 4 Year 5

Total Revenue & Expenses - 8 Field Model

Total Revenue $370,342 $443,752 $471,130 $495,275 $514,867 Total Cost of Goods Sold $141,210 $171,538 $176,791 $184,749 $188,985 Total Operating Expenses $401,682 $413,141 $420,554 $428,511 $435,446 EBITDA ($172,550) ($140,928) ($126,215) ($117,985) ($109,563) Year 1 Year 2 Year 3 Year 4 Year 5

Total Revenue & Expenses - 12 Field Model

Total Revenue $395,742 $527,592 $616,370 $640,515 $661,735 Total Cost of Goods Sold $152,480 $209,010 $240,761 $248,719 $253,118 Total Operating Expenses $437,302 $457,960 $475,583 $483,925 $491,381 EBITDA ($194,039) ($139,379) ($99,975) ($92,128) ($82,764)

E C O N O M I C I M P A C T O V E R V I E W

E C O N O M I C I M P A C T - A D E

E C O N O M I C I M P A C T – 1 2 F I E L D M O D E L

E C O N O M I C I M P A C T – 8 F I E L D M O D E L

N E W T A X R E V E N U E G E N E R A T I O N

N E T F I N A N C I A L I M P A C T

N E T I M P A C T – B O T H M O D E L S

Year 1 Year 2 Year 3 Year 4 Year 5

Total Revenue & Expenses - 12 Field Model

Total Revenue $395,742 $527,592 $616,370 $640,515 $661,735 Total Cost of Goods Sold $152,480 $209,010 $240,761 $248,719 $253,118 Total Operating Expenses $437,302 $457,960 $475,583 $483,925 $491,381 EBITDA ($194,039) ($139,379) ($99,975) ($92,128) ($82,764) New Tax Revenue - Columbia County, FL $98,729 $147,054 $174,301 $178,883 $178,883 Net Financial Impact ($95,310) $7,676 $74,326 $86,754 $96,119 Year 1 Year 2 Year 3 Year 4 Year 5

Total Revenue & Expenses - 8 Field Model

Total Revenue $370,342 $443,752 $471,130 $495,275 $514,867 Total Cost of Goods Sold $141,210 $171,538 $176,791 $184,749 $188,985 Total Operating Expenses $401,682 $413,141 $420,554 $428,511 $435,446 EBITDA ($172,550) ($140,928) ($126,215) ($117,985) ($109,563) New Tax Revenue - Columbia County, FL $84,313 $105,391 $105,391 $109,974 $109,974 Net Financial Impact ($88,237) ($35,537) ($20,824) ($8,011) $410

C O S T V S . I M P A C T

12 Field Model - $1.48 8 Field Model - $1.51

Definitions of Success:

• The facility must become a premiere multi-purpose field complex that

attracts, hosts, and retains multi-purpose field sports tournaments and events.

• The facility must create a significant driver of economic impact, generating

new spending from non-local visitors who would not be in Columbia County but for events held at the complex.

• The facility must enhance the sense of pace and quality of life in the

community by improving local access to sports and recreation in terms of time, cost, and location.

D E F I N I N G S U C C E S S

✓ ✓ ✓

C O L U M B I A C O U N T Y M U LT I - P U R P O S E F I E L D C O M P L E X

Q u e s t i o n s & A n s w e r s

Adjournment

Next Meeting Wednesday, July 24, 2019 IFAS Training Room 971 W Duval Street Lake City FL 32055

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