Anyone interested in submitting an application for tourism experiences investment funds for 2019 should review this presentation in advance of preparing proposals.

1. Product and Experiences
Investment Workshop 2018

2. BTA Purpose – Why are we here?
1. Promote Bermuda globally as a world-class
destination for leisure and group travel
2. Create jobs and opportunities for Bermudians
3. Generate economic growth for Bermuda by
encouraging investment that will enhance the
tourism industry

3. Experience Investment Process
Why are you here?
Create new, enhanced and authentic
experiences
Bring more visitors to the island
Better satisfy visitors that are already in
Bermuda
THE BTA IS LOOKING TO:
• Support homegrown ideas to get off the ground
• Diversify our experience provider base
• Increase product offerings
• Educate and align products offered by partners
• Enhance on-island experiences for target visitors

4. Funded Investments
Since inception, the BTA has allocated nearly $4M to home-
grown ideas that help enhance the island’s collection of
visitor experiences.
171
supported
Experiences
since 2014
55
Experiences
supported
for 2018

5. Return on Investment
How can this be
demonstrated?
Creates jobs
for Bermudians
Fills an
identified gap in
the tourism
product
Demonstrate
media
exposure for
Bermuda
Increased
visitor spend
and/or length
of stay
Returns that
can be re-
invested into
the tourism
product
Proven
increase of
awareness to
markets
outside of
Bermuda
Substantial
amount of
visitors
All experiences should yield a Return on investment and have a direct impact on the tourism industry
All events and attractions receiving
funding from the BTA will be subject to
economic and financial reporting,
customer feedback reports and visitor
participation data.

6. Product vs Experience
Products:
• Hotels
• Tours
• Excursions
• Infrastructure
Experiences:
• Execution and delivery around the product
• Unique, differentiating Bermuda
• Perceived as providing great value for money
• Personalized, connecting with the visitor
• Things that create memories

8. Why Are You Here?
ARE YOU FILLING A NEED FOR OUR TARGET VISITOR?
HAVE YOU IDENTIFIED A WAY TO DO THINGS BETTER?
HAVE YOU IDENTIFIED A NEW PRODUCT OR SERVICE THAT
ISN’T ON THE MARKET YET?

9. Case Studies
ArielRe Bermuda 7’s
Haunted History
Hidden Gems
Bermuda Heroes Weekend

10. ArielRe Rugby 7’s
What we liked:
What could have
been better:
• Exposed Bermuda to a
younger demographic
• Addresses seasonality
• Attracts visitors to the island
• Good local community buy-
in
• Expanded event to include
different age group categories
• Engage with hotels earlier to
create team accommodation
packages
• Additional marketing/PR to
encourage attendance and
engagement
• Creating a part time/full time Local
Organising Committee that is
dedicated to operations and logistic
prior and during the event
Proposal: To create an event that appeals to collegiate and high school rugby teams, providing high
level competition and a spectacular Bermuda experience.

11. Haunted History
What we liked:
What could have
been better:
• New experience that
displayed Bermuda’s rich
culture in dynamic new way
• Enhanced visitors on-island
experience
• Online booking option
• Multiple performances
weekly
Proposal: To create a walking tour brought to life with live acting in the UNESCO World Heritage Site of
St. George’s.

12. Hidden Gems
Proposal: Expand all-inclusive eco-tour offering by purchasing an additional vehicle
What we liked:
What could have
been better:
• Desire to expand and
service additional visitors
• Unique eco-tour offering that
occurs year-round
• Enhanced visitors on-island
experience
• The benefit of the increased
exposure, through marketing
support, to expand client base
• Online booking option
•Utilizing funds for a capital
expense fell out of the
approved criteria
•Adding a NEW tour offering
to compliment the all-
inclusive eco-tours

13. Bermuda Heroes Weekend
Proposal: To create Bermuda’s first four-day carnival event featuring overseas and local revellers
immersing in Bermuda’s unique culture
What we liked:
What could have
been better:
• Exposed Bermuda to a younger
demographic
• New experience highlighting
Bermuda’s rich culture (water raft-
up)
• Attracts visitors to the island
• Created opportunities for local
entrepreneurs and stakeholders
• Provided overseas media
exposure
•Repeat visitation to the island
• Online booking option
• Having BHW take place
during a different time of year to
address seasonality challenges

14. US Leisure Visitor Targets

15. 15

16. 16

17. 17

18. 18

19. 19

20. Target Distribution
20%
10%
12%
23% 22%
40% 35%
18% 21%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2016/2017 2017/2018
US Leisure Air Visitors
Jet-Setters
Golden
Boomers
Active
Families
Experience
Enthusiasts
Adventure
Seekers

21. Market Research

22. Visitor Arrivals
Air
38%
Cruise
62%
Year-to-Date 2018
140,216
144,805
139,470
140,940
136,372
131,755
141,398
159,287
169,871
237,643
234,681
234,235
201,201
216,711
217,722
232,090
255,520
278,193
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
2010 2011 2012 2013 2014 2015 2016 2017 2018
Year To Date (January – July)
Cruise
Total Air

23. Total Air Visitors – Purpose of Visit
YTD-16 YTD-17 YTD-18
# CHG
YOY
% CHG
YOY
VACATION & LEISURE 92,632 105,820 122,564 16,744 15.8%
BUSINESS 26,557 28,984 28,521 -463 -1.6%
VISITING FRIENDS &
RELATIVES
19,729 21,597 16,794 -4,803 -22.2%
OTHER 2,480 2,913 1,992 -921 -31.6%
TOTAL AIR VISITORS 141,398 159,314 169,871 10,557 6.6%
23Air Vacation & Leisure Purpose of Visit = Vacation, Destination Wedding, Sporting Event, Concert/Festival/Carnival or America’s Cup
Spectator/Vacation. Source: Immigration Landing Cards
VACATION &
LEISURE
72%
BUSINESS
17%
VISITING
FRIENDS &
RELATIVES
10%
OTHER
1%

24. Visitor Spending
$120
$1,182
$112
$1,253
$113
$1,412$1,374
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
Average Cruise Visitor Average Air Visitor
Average Visitor Spending
2015 2016 2017 2018 YTD
$45.5
$119.3
$44.5
$135.2
$47.9
$17… $176.0
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
Cruise Air Visitor
Total Visitor Spending (Millions)
2015 2016 2017 2018 YTD

25. Air Visitor Spending by Category
Lodging/accommodations, $689,…
Restaurants & dining out, $312, 23%
Entertainment & sightseeing, $91, 7%
Shopping/any retail purchases, $93, 7%
Groceries, $50, 4%
Gas, parking & local transportation, $57, 4%
Other, $38, 3%
2018 YTD

26. Cruise Visitor Spending by Category
Sightseeing tours purchased on-
land, $4 , 3%
Retail purchases,
$47 , 41%
Transportation, $18 , 16%
Meals/ beverages, $20 , 18%
Excursions purchased on ship
(excluding commission), $13 , 11%
Recreation/ Leisure, $10 , 9%
Groceries/liquor, $2 , 2%2017

27. Vacation & Leisure Visitor Air Arrivals
AGE
YTD-
16
YTD-
17
YTD-
18
# CHG
YOY
% CHG
YOY
0 - 17 10,890 11,584 14,671 3,087 26.6%
18 - 24 6,549 6,665 8,478 1,813 27.2%
25 - 34 15,408 21,910 25,153 3,243 14.8%
35 - 44 14,250 17,483 20,863 3,380 19.3%
45 - 54 17,520 17,746 20,023 2,277 12.8%
55 - 64 15,949 17,232 18,767 1,535 8.9%
Over 65 12,066 13,200 14,609 1,409 10.7%
0-17
12%
18-24
7%
25-34
21%
35-44
17%
45-54
16%
55-64
15%
65+
12%
Year-To-Date Age
Source: Immigration Landing Cards
0 20,000 40,000 60,000 80,000 100,000 120,000 140,000
0 - 17 18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 Over 65

28. Market Gaps

29. Trends
Millennial Families Show Promise:
Tours, Activities and Experiences must adopt digital
booking if they want to be successful:
The operators that are quickest to streamline the purchasing process
will be the ones to succeed as the tours market moves digital.”
-Eye For
Travel
[Consumers] want their tours and activities on-demand. In the age of
instant service from Uber, Seamless and HotelTonight, people have
less and less patience. If they can’t book it easily right now, while
they’re in the mood, they might not book it at all.
- Megatrends Defining Travel in 2017
“Millennial families remain the most promising segment of this
generation due to both their numbers and intention to increase
travel spending.”
- Portrait of American Travelers 2018-
2019

30. Bermuda is HIGHLY seasonal
(average occupancy of 63%): Opportunity to build business
Bermuda is highly seasonal with May to August having the highest average occupancy rates of 75-85%;
Occupancies in December to February are as low as 33%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
January February March April May June July August September October November December
2016 Air Arrivals 2017 Air Arrivals 2018 Air Arrivals

32. Source: Skift “The State of Tours and Activities 2018”

33. BTA Application Process

34. Priorities for Investments in 2019
• YEAR-ROUND EXPERIENCES
• NEW AND DIVERSE EXPERIENCES
• FAMILY-FRIENDLY/FAMILY-FOCUSED
• AUTHENTIC DISTINCT CULTURAL &
ENTERTAINMENT EXPERIENCES
• SPORTS IN THE FALL/WINTER
• REPURPOSING EXISTING EXPERIENCES TO
EXTEND VISITOR SPEND

35. Experience
Workshops
Applications
open for
submission
Applications
closed
Applications
Reviewed
Interviews
for Second
Review
Successful/
unsuccessful
applicants
notified
Successful
applicants
announced/
Contracts
received
Application Process – Step by Step
August
30th/31st
September 1st
September 30th
October 31st
www.bteia.fluidreview.com

36. FINANCIAL MARKETINGCONTACTS &
COLLABORATION
Type of Support
• Requests must not exceed $75,000;
funding is competitive and limited –
some experiences may only receive
partial support
• Proposals must not be totally
dependent on BTA funding
• Applicants should not assume that
they will be awarded support on an
annual basis
“The Tourism Authority has provided
a phenomenal amount of support for
our relatively new tourism business,”
said Ashley Harris, whose company,
Hidden Gems of Bermuda, provides
the kind of unique experience visitors
say they want. “People know who we
are and the unique product we offer.
We are very grateful for the positive
support we get from the BTA.”
• Access to BTA network and contacts
• Facilitated collaboration that improves
delivery of an experience

37. Disbursement and Use of
Funds
FOR SUCCESSFUL APPLICANTS WHO RECEIVE FUNDING:
BTA will provide a percentage of
the investment awarded once a
contract has been signed
Milestone payments will be
made based on agreed
performance targets and
reporting requirements
Final payment is made once the
Post Experience Report has been
received by the BTA
Awardees must provide
adequate proof that the funds
received were used as intended.
The BTA will be reviewing reports
and checking that applicants
have demonstrated acceptable
use of funding.

38. Sample Milestone Payment Schedule
Reporting Period Completion Date Activities and evidence required (but not limited to)
showing activities are achieved
Report due Date Progress Payment
Amount ($)
1 Immediately with signed
contract
 Completed Jotform document provided by the
BTA
 Written confirmation of new activities/ offerings
for 2019
 Confirmation that CTA certification has been
maintained
 Confirmation of a TripAdvisor profile and/or
online presence promoting the Project
Immediately with
signed contract
$X
2
July 1, 2019  Mid-season report including weekly visitor
statistics to date and the implementation of new
activities/offerings
September 3, 2019 $X
3 September 30, 2019  Submitted post experience Report inclusive of
financial reports, weekly visitor statistics, income
and expense reports with supporting
documentation, customer satisfaction reports
with supporting documents. (Failure to provide
this report by October 30 will result in forfeit of
the final payment).
September 30, 2019 $X
Total $X

39. What does an Application Need to Include
1. Evidence that the experience is distinctive, showing a
link to one of our target experience segments
2. A viable business/marketing plan including an
explanation of how you will:
a) Increase visitor length of stay and/or spend
b) Attract international visitors travelling for a
specific event
c) Align with target visitor expectations or fill an
identified product gap
d) Sustain the experience, subsequent to BTA
funding
3. Multiple sources of funding, beyond BTA
4. Letters of support

40. Ineligible Experiences
• Bermuda Tourism Authority to cover the full
cost
• Submissions received after the deadline
• Hardcopy, handwritten or faxed applications
• Experiences not occurring in Bermuda or
related to Bermuda tourism
• The funding request is to offset any
expense(s) associated with a previous venture
• Requests for permanent funding
• Ineligible events: Conferences, Tradeshows,
meetings, etc.
• Capital ask

41. • A cross-sectional team at the BTA is created to review applications
• Each team members rank and score proposals based on how well the proposal delivers on the
assessment criteria
• After initial review and scoring, applicants that meet scoring requirements are shortlisted and
interviewed
• Applicants receive another ranked score after interviews are completed
• Rankings and weighted scores are reviewed and final funding/support decisions are made.
Successful applicants are then notified
How Decisions Are Made

42. Helpful Advice
to Prepare Your Submission

43. Do you have a Business Plan?
A business plan
will:
Assist with
deliberate
decision
making
Be key for
financing
•Banks, investors
Be a tool to
share the
entrepreneur’s
vision
Help to ease
entrepreneurial
uncertainty
•Risk reduction
Force the
entrepreneur to
have perspective
‘On it’ – not In it
Does your
business
plan have:
Why you believe there
is a need for your
business?
•Backed with market
research?
How you will
execute?
What your
projections are?
Accurate
financials?
What effects it
will have on the
tourism industry?

44. What do you want to do and why do you want to
do it?
• Is there a similar experience, event, or offering offered in
Bermuda?
• What makes your experience distinct?
• Does your business have a location?
• What do you need the financial/marketing support for?
• - BE SPECIFIC
• Do you presently have a tourism product? If so, explain
how will the support be used to enhance the visitor
experience?
Key Questions to Ask

45. Key Things Your Business Plan Should Include
Executive Summary
Clear and compelling mission statement, objectives, financial overview, keys to
success
Problem/Solution/Opportunity Focus
 Why now?
Overview of Market with Key Research
 Support your story with key research
 SWOT Analysis
Management
• Who will be leading your business?
• Include bios, background information etc.
Financials
• Make your business plan has realistic income and expense numbers
• Show other sources of investments (i.e. savings, personal loan, private investor,
additional grants, consumer loan)
Marketing Plan
• How will people find out about your product
If you need further assistance with your business plan, the
Bermuda Economic Development Corporation provide
excellent services to support small business entrepreneurs.
Contact 292-5570 or email info@bedc.bm

46. Research, Research, Research!
Don’t underestimate business costs
Educate yourself about the expenses of
your new business. Survey potential
customers and test the market
Analyze the performance of similar
products or services in the market -
determine different ways in which you can
improve the product
Speak to other business owners as many
have had experiences and success in the
same field and would love to share their
stories
Gather your own data - traffic counts at a
proposed location, yellow pages to identify
competitors, do surveys or focus group
interviews to learn about customer
preferences
Be as specific as possible; give statistics,
numbers and sources
The BTA’s in-house research team is
available for advice and guidance based on
research we’ve done. For information
contact mhowe@bermudatourism.com
Independent Research Primary Research

47. Marketing & Social Media

48. Social Media Basic Concepts
 What type of business is your company?
 Who is your target audience?
 What are you trying to achieve using social
media?
 Awareness
 Revenue
 Inspiration
People buy
from who they
trust
Quality vs
Quantity
Build customer
awareness
Provide quality
consumer
experience
throughout
entire
engagement

49. A “push” strategy
involves taking the
product directly to
the customer via
whatever means.
“Taking the product
to the customer”
A “pull” strategy
involves motivating
customers to seek
out your brand in
an active process.
“Getting the
customer to come
to you”
Push vs Pull Marketing
Examples
Trade show
promotions to
encourage retailer
demand
Direct selling to
customers in
showrooms or face
to face
Point of sale
displays
Cold calling
Examples
Word of mouth
referrals
Social Media
Customer
relationship
management
Sales
promotions and
discounts

50. Choose the right platform for
your business
Communicate regularly
Have a “Book Now” option
embedded within your website
and social media
Give credit where its due
Reputation Management Tools
• TripAdvisor Business Tool
• Facebook Groups
• Twitter
• Hashtags
• Google Alerts

51. Manage Your Business Reputation

52. Manage Your Business
Reputation

53. Social Media in Your
Application
Show which social media platforms
you are going to use and state why
Show how you plan to use the
platform to achieve your goal
Tell us what tools you plan to use to
measure your success
Provide a detailed budget for social
media marketing

54. BUSINESS & MARKETING PLAN
Put time and effort into your business and marketing plan. We
strongly recommend visiting BEDC for feedback and
assistance.
RESEARCH
BOOKING OPTION
Use accurate and reliable research to support your proposal
[Consumers] want their tours and activities on-
demand…people have less and less patience. If they can’t
book it easily right now, while they’re in the mood, they might
not book it at all.
(Megatrends Defining Travel,
2017)
Helpful Advice

55. Thank You!