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FY 2010 Proposed Budget City of Laredo Convention & Visitors Bureau.

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Presentation on theme: "FY 2010 Proposed Budget City of Laredo Convention & Visitors Bureau."— Presentation transcript:

1 FY 2010 Proposed Budget City of Laredo Convention & Visitors Bureau

2 Hotel Tax Revenue and CVB Operating Budget Proposed Major Fund Cuts Director$87,294 (100% unfunded) Tourism Sales Manager$26,962 (50% unfunded) Marketing Manager$16,519 (25% unfunded) Management Fees$300,000 (agency contract) Other Charges$402,000 (LEC operations) CVB OPERATING BUDGET FY 2009:$2,725,778 FY 2010: $1,847,185 PROPOSING A 32.23% DECREASE IN FUNDING Hotel Occupancy Tax Collections As of million of 2.8 projection (amended budget amount) 80.3% of projection has been met

3 Texas Hotel Outlook First Quarter 2009  Room Revenues dropped 8%  Decline is the largest since 1986  Occupancy Dropped 7.9% from one year ago  Room-night price declined 3.9%  Revenue Per Available Room declined 11.5%  Market reports and trends indicate a likely worsening for the 2009 Second Quarter Source: Texas Hotel Factbook, First quarter 2009, issued by the Governor’s office of Economic Development and Tourism; Texas Dept. of Transportation; LCVB Local Tourism/ Hotel Market Indicators  Laredo HOT revenue, as reported to the State Comptroller, vs. 2007, declines 0.6 % $53,294,801 vs. $52,996,936  Laredo occupancy vs. 2007, declines 2.9% / 58.8% vs. 55.9%  Room nights sold vs. 2007, decline 4% / 865,991 vs. 827,818  Occupancy first quarter, 08 vs. 09, declines 11.9% / 56.8% vs. 44.9%  Room revenue first quarter 08 vs. 09, declines 20.5% $13,127,633 vs. $10,443,000  Laredo TX Travel Information Center visitor inquiries (Jan-Jul YTD 08 vs. 09) decline 49.7%  CVB walk in visitors (Oct-Jul FYTD 08 vs. 09) decline 14%  I-94 permits issued at Port of Laredo through April 09 vs. 08 decline 18.7%

4 FY 2009 Projection: $3,424,128 (original budget) Amended to $2.8 M FY 2010 Projection: $2,543,982 PROJECTING A 25.7% DECREASE IN COLLECTIONS HOTEL MOTEL OCCUPANCY TAX COLLECTIONS

5 BILLBOARD, PRINT and ELECTRONIC ADVERTISING BUDGET FY 2009: $705,045 FY 2010: $743,952 INCREASING THE ADVERTISING BUDGET BY $38,907 FY 2009 Vs. FY 2010 FY 2009FY 2010 Mexico314,535347,110 U.S.390,535396,842

6 New in 2009 U.S. Marketing 1.Hosted Meet the Bureau Night event to raise local awareness for CVB services 2.Hosted four media familiarization tours 3.Executed and administered contract for US domestic marketing, advertising and public relations services 4.Tag line 5.Advertising and collateral image redesign

7 New in 2009 Mexico Marketing 1.Mexico Shopping Spree 2.Spanish Language Visitors Guide 3.Monterrey Vehicle purchase and van wrap 4.Style fashion shows in Monterrey, Nuevo Leon MX 5.Print advertising in Guadalajara 6.Downtown merchant coupon sheet


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