WEL WELCOM COME Sponsor Michael Heath Marlise Applegate - - PowerPoint PPT Presentation

WEL WELCOM COME

Sponsor

Michael Applegate VISIT GASTON Heath Dillard VISIT CHARLOTTE Marlise Taylor VISIT NC

Business Buzz: The Business of Tourism

Visitor Spending

Smith Travel Research Gaston County Lodging % Change

GoGaston.org #GoGaston 4.9% 8.7% 14.0%

• 0.8%

8.5% 7.6% 2015 2016 YTD ADR RevPAR Occupancy

Smith Travel Research Gaston County Lodging % Change

GoGaston.org #GoGaston

• 0.1%

4.8% 13.9% 0.0%

• 0.8%

7.7% 2015 2016 YTD Demand Supply Revenue

Smith Travel Research Gaston County Lodging Trend

GoGaston.org #GoGaston Supply Demand 2009 2010 2013 2011 2012 2014 2015

Visit NC – US Travel Association Gaston County Visitor Spending

GoGaston.org #GoGaston

$241.57 $234.24

2015 2014 Millions

Visit NC – US Travel Association Gaston County Tourism Employment

GoGaston.org #GoGaston

1,890 1,820

2015 2014

Visit NC – US Travel Association Gaston County State & Local Taxes

GoGaston.org #GoGaston

$17.83 $16.74

2015 2014 Millions Attributed to Visitors

Visit NC – US Travel Association Gaston County Visitor Spending Trend

GoGaston.org #GoGaston Millions

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Thank You

GoGaston.org #GoGaston

The Business of Tourism On the Charlotte Region

Presented by: Heath Dillard Charlotte Regional Visitors Authority

2015 ended on a high note

3.1 5.7 3.5 Occupancy ADR RevPAR

2015 Percent Change

Source: STR

2016 continues to set new highs

3.2 4.9 8.3 Occupancy ADR RevPAR

YTD July Percent Change

Source: STR

2015 sees continued demand growth

0.2 3.4 9.3 Supply Demand Revenue

2015 Percent Change

Source: STR

2016 sees first signs of development

0.7 3.9 9.0 Supply Demand Revenue

YTD July Percent Change

Source: STR

Charlotte region benefited from lack of development in the last cycle

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

10-Year History of Supply-Demand

Source: STR * Data represents Mecklenburg County Only

Visitors infused $6.5 billion in the Charlotte regional economy in 2015

Source: The 2015 Economic Impact of Travel on North Carolina Counties, prepared for Visit North Carolina by the U.S. Travel Association

County

Visitor Spending (millions) Cabarrus $411.58 Gaston $241.47 Iredell $233.80 Lincoln $52.38 Mecklenburg $5,037.90 Rowan $160.47 Union $126.00 Chester* $22.96 Lancaster* $30.23 York* $206.93 Total Charlotte MSA $6,523.72

* Source: The 2014 Economic Impact of Travel on South Carolina Counties, prepared for South Carolina Department of Parks, Recreation & Tourism by the U.S. Travel Association

Visitor spending increase regional demand, increasing employment

Source: The 2015 Economic Impact of Travel on North Carolina Counties, prepared for Visit North Carolina by the U.S. Travel Association

County

Visitor Spending (millions) Employment Cabarrus $411.58 4,320 Gaston $241.47 1,890 Iredell $233.80 1,820 Lincoln $52.38 380 Mecklenburg $5,037.90 49,870 Rowan $160.47 1,360 Union $126.00 990 Chester* $22.96 210 Lancaster* $30.23 260 York* $206.93 1,950 Total Charlotte MSA $6,523.72 63,050

* Source: The 2014 Economic Impact of Travel on South Carolina Counties, prepared for South Carolina Department of Parks, Recreation & Tourism by the U.S. Travel Association

Visitors leave behind millions in tax revenue to local municipalities

Source: The 2015 Economic Impact of Travel on North Carolina Counties, prepared for Visit North Carolina by the U.S. Travel Association

County

Visitor Spending (millions) Employment State & Local Tax Collections (millions) Tax Savings per Resident Cabarrus $411.58 4,320 $30.73 $156.18 Gaston $241.47 1,890 $17.83 $83.54 Iredell $233.80 1,820 $20.03 $117.92 Lincoln $52.38 380 $4.48 $55.28 Mecklenburg $5,037.90 49,870 $361.29 $349.39 Rowan $160.47 1,360 $13.70 $98.46 Union $126.00 990 $9.25 $41.53 Chester* $22.96 210 $1.82 $56.40 Lancaster* $30.23 260 $2.69 $31.34 York* $206.93 1,950 $17.50 $69.67 Total Charlotte MSA $6,523.72 63,050 $479.32 $197.55

* Source: The 2014 Economic Impact of Travel on South Carolina Counties, prepared for South Carolina Department of Parks, Recreation & Tourism by the U.S. Travel Association

Visitor spending has grown and is more important to economic growth

Source: The Economic Impact of Travel on North Carolina Counties, prepared for Visit North Carolina by the U.S. Travel Association * Source: The Economic Impact of Travel on South Carolina Counties, prepared for South Carolina Department of Parks, Recreation & Tourism by the U.S. Travel Association 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Year-over-Year % Change

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Total Visitor Spending

Montcross Area Chamber

Marlise Taylor, Director of Research, Visit NC

August 2016

Lodging Statistics

Occupancy, ADR, RevPAR

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North Carolina 2015 North Carolina Year-to-Date 2016 Occupancy Up 2.6% Up 1.8% ADR Up 4.7% Up 3.8% RevPAR Up 7.3% Up 5.7%

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Lodging Statistics

Supply, Demand North Carolina 2015 North Carolina Year-to-Date 2016 Supply Up 0.6% Up 1.8% Demand Up 3.2% Up 3.6%

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Lodging Statistics

Revenues North Carolina 2015 North Carolina Year-to-Date 2016 Room Revenues Up 8.0% Up 7.5%

Lodging Demand Growth Trend

2005-2015

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33.8M

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 +20%

2015: Record Year for NC Tourism

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$21.9 Billion in Direct Visitor Spending Up 3% from 2014

$0.0 $5.0 $10.0 $15.0 $20.0 $25.0 2014 2015 $21.3 $21.9 $ Billions

2015: Record Year for NC Tourism

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211,445 North Carolinians Directly Employed by Tourism Up 3.2% from 2014

30,000 60,000 90,000 120,000 150,000 180,000 210,000 2014 2015 204,909 211,445 Thousands

2015: Record Year for NC Tourism

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Nearly $1.8 billion in State/Local Tax Revenues from Visitor Spending Up 5.8% from 2014

$0 $500 $1,000 $1,500 $2,000 2014 2015 $1,688 $1,786 $ Billions

Visitor Spending Growth Trend

1991-2015

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1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

$21.9B $7.0B

+214%