Protecting your assets: Rates, dates and space

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The state of the hotel industry in 2013 is improving. With strong demand, ample supply and strengthening weekend and record nights with 80% occupancy, the hotel industry is poised to recover to 2007 record levels.

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  • The LVCC has nonprofit contracts signed as far out as 2026 and corporate contracts signed as far out as 2019.
  • If you look at this graph, the weekend occupancy is growing stronger. The more the spread widens, the greater the pressure is put on keeping events Sunday through Thursday.
  • A convention facility is considered at capacity when it reaches 70% occupancy.
  • Protecting your assets: Rates, dates and space

    1. 1. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Protecting Your Assets Rates, Dates, and Space
    2. 2. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. As presented at the IAEE Expo! Expo! Annual Meeting and Exhibition Dec. 10-12, 2013 Houston, TX
    3. 3. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Session Moderator Charlotte Pearson, CEM Senior Sales Manager Freeman
    4. 4. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Chris Meyer, CEM, CMP Vice President, Sales Las Vegas Convention and Visitors Authority
    5. 5. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Rates, Dates, Space Association Nonprofit: Booking window is longer. Corporate: Booking window is shorter. The Las Vegas Convention Center has a current market mix of 51% Association and 49% Corporate.
    6. 6. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Rates, Dates, Space Midweek Weekend Citywide 2007 88.7% 94.3% 90.4% 2008 84.3% 89.8% 76.0% 2009 78.2% 88.8% 81.5% 2010 76.8% 88.4% 80.4% 2011 80.7% 90.9% 83.8% 2012 81.6% 90.8% 84.4% 2013 82.8% 92.1% 85.6%
    7. 7. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Occupancy at Gate Convention Centers (more than 500,000 square feet) averages 52.9% based on the PWC convention facility benchmarking 2012 survey. The LVCC averages 72%. Rates, Dates, Space
    8. 8. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Mike Dominguez, CHSE Senior Vice President Hotel Sales MGM Resorts International
    9. 9. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. State of the Hotel Industry: North America
    10. 10. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Demand is Back Demand Is Back
    11. 11. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Revpar Back To 2007 Levels RevPAR Back to 2007 Levels
    12. 12. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Group Still Catching Up Group Still Catching Up
    13. 13. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Record Nights
    14. 14. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Days Of The Week Days of the Week
    15. 15. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. What Days Are Driving ADR?
    16. 16. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. ADR Growth in Group Hotels
    17. 17. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
    18. 18. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
    19. 19. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Transient Premium Returns
    20. 20. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Commodity Pricing
    21. 21. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Beef Prices 53% Increase
    22. 22. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Poultry Price 20% Increase
    23. 23. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Salmon Price 50% Increase
    24. 24. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Shrimp Price 82% Increase
    25. 25. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Coffee: Five-Year Price Peaked at $302
    26. 26. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Coffee: 10-Year Price 106% Increase
    27. 27. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Price of Cotton
    28. 28. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Cotton Prices 43% Increase
    29. 29. © Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential. Supply Growth--Very Slow Demand Growth--Healthy, Despite Everything ADR--Will Drive RevPAR Recovery Steady as She Goes

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