2013 Visitor Profile & Impact Report

Transcription

1 2013 Visitor Profile & Impact Report Berkeley Young, President Larry D. Gustke, PhD Young Strategies, Inc. YOUR LOGO

2 PCB LODGING MARKET

3 PCB Lodging That Reports to STR Holiday Inn Resort Panama City Beach Upper Midscale Class 340 Days Inn Panama City Beach Ocean Front Economy Class 188 Comfort Suites Panama City Beach Upper Midscale Class 74 Country Inn & Suites Panama City Beach Upper Midscale Class 82 Hampton Inn Suites Panama City Bch Pier Park Area Upper Midscale Class 95 Knights Inn Panama City Beach Economy Class 90 Hawthorn Suites by Wyndham Panama City Beach Midscale Class 80 Sleep Inn & Suites Panama City Beach Midscale Class 90 La Quinta Inns & Suites Panama City Beach Midscale Class 86 Hampton Inn Panama City Beach Upper Midscale Class 89 Wyndham Bay Point Resort Upper Upscale Class 319 Beachbreak By The Sea Upper Midscale Class 100 La Quinta Inns & Suites Panama City Beach Pier Park Midscale Class 90 The Grand Cayman Hotel Midscale Class 143 Beachcomber By The Sea Upscale Class 96 Legacy By The Sea Upscale Class 139 Source: Smith Travel Research (STR) Total Rooms Reporting 2,101

4 2013 Year-End STR Data Comparison USA, Florida and PCB USA Florida PCB PCB Change OCC 62.3% 67.0% 57.7% 5.2% ADR $ $ $ % REVPAR $68.69 $79.34 $ % SUPPLY (change) 0.7% 0.0% 0.0% 0.0% DEMAND (change) 2.2% 3.5% 5.2% 5.2% Source: Smith Travel Research (STR)

5 2013 Year-End STR Data Source: Smith Travel Research (STR)

6 2013 Year-End STR Data Supply vs. Demand 2012/ PCB ,696 21,940 additional room nights in 2013 $2,635,652 additional revenue in , ,756 Demand Supply , , , , , , ,000 Source: Smith Travel Research (STR)

7 2013 Year-End STR Data

8 2012 & 2013 VISTOR SURVEYS 2012 N = 2,903 TOTAL SURVEY RESPONDENTS 2013 N = 2,425 TOTAL SURVEY RESPONDENTS Season Winter Snow Bird Spring Spring Break Summer Fall Total Season Responses 2,056 1,920

9 2013 PCB Visitors Map

10 Age of PCB Visitors 2012 vs 2013

11 PCB VISITOR TRAVEL PATTERNS

12 2012 & 2013 PCB Occupancy Sources: STR data and YSI visitor surveys

13 First Time Visitation to PCB 2012/2013 Fall 16.3% 40.3% Summer 19.9% 29.7% Spring 18.7% 35.9% Snow Birds 7.3% 7.7% Winter 24.6% 19.9% 0% 20% 40% % 80% 100%

14 Repeat Visitation to PCB 2012/2013 Fall 59.7% 83.7% Summer 70.3% 81.1% Spring 64.1% 81.3% Snow Birds 92.7% 92.3% Winter 75.4% 80.1% 0% 20% 40% 60% 80% 100%

15 Type of Accommodations 2012 vs 2013 Vacation condo/townhouse rental 50.2% Hotel/Motel 27.6% Friends or family/house/condo Owner of vacation house/condo (non-res) Timeshare Vacation house rental Campground/RV PARK Religious Retreat Center 7.8% 6.0% 4.2% 4.2% 1.5% 0.1% % 20% 40% 60%

16 Average Party Size 2012 vs Snow Birds Winter Spring pring Break Summer Fall

17 Average Length of Stay 2012 vs Winter now Birds Spring Summer Fall

18 Rental Booking Source 2012 vs 2013 VRBO ( 37.8% Direct from owner 19.4% Resort Rental Agency 25.8% Other online booking sites 9.2% Other 4.6% Owner - no reservation necessary 3.1% 0% 10% 20% 30% 40% 50%

19 Have You Visited Other Florida Beaches? No, 24.7% Yes, 75.3%

20 Other Panhandle Beaches Visited?

21 Other Florida Beaches Visited?

22 VISITOR SATISFACTION 84% Intend to return within a year!

23 Avg Rating of PCB Experience 2012 vs Consistently high satisfaction Winter Snow Birds Spring Summer Fall

24 PCB Amenity Ratings 2012 vs 2013

25 PCB VISITOR SPENDING DATA

26 Total Spending Per Party 2012 vs 2013 $8, $7,000 $6,000 $6,122 $5,767 $5,000 $4,000 $3,000 $2,000 $1,000 $1,642 $2,205 $1,837 $1,676 $1,349 $1,312 $1,097 $1,266 $0 Snow Birds Summer Spring Winter Fall

27 PCB Visitor Person Nights 2012 vs 2013 January February March April May June July August Septem October Novemb 0 500,000 1,000,000 1,500,000 2,000, , ,996 1,445, , ,160 1,685,676 1,797, , , , ,368 Decemb ,093 Variation 12 to 13 = +5.4%

28 PCB ECONOMIC IMPACT FROM VISITORS

29 PCB Monthly Visitor Spending 2012 vs 2013 $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 January February March April May June July August September October November December $22,388,971 $31,864,205 $141,775,510 $71,608,885 $92,924,942 $195,797,769 $208,765,391 $98,202,599 $66,574,285 $43,587,016 $22,576,538 $18,846,026 Grand Total = $1,136,126,851 Variation 12 to 13 = 7.3% Calculated based on Taxed lodging

30 2012/2013 PCB Impact Taxed Lodging Based on visitors who stayed in taxed overnight lodging VAR. Tourist Development Tax Revenue $14,674,649 $15,832, % Total Taxed Lodging Revenue $293,492,971 $316,652, % Lodging as a % of Total Visitor Spending 31.2% 35.1% 12.2% Total Visitor Spending (from taxed lodging) $940,682,598 $1,014,912, % Average Daily Spending Per Person $ $ % Visitor Days/Nights 8,866,857 9,370, % Visitor Travel Parties 2,216,714 2,342, % Overall Annual Occupancy 38.5% 39.5% 2.6%

31 2012/2013 PCB Impact Non-taxed Lodging Based on owners & friends/family who did NOT PAY for overnight lodging Condo / Home / Townhome Inventory (est.) 16,150 16,150 Total Annual Inventory (condo, home townhome X 365) Estimated Occupancy Rate (owners, friends, family) 5,894,750 5,894, % 6.75% Typical Travel Party Size (owners, friends, family) 5 5 Visitor Days/Nights 1,994,525 1,996,948 Average Daily Spending Per Person (2012/2013 Visitor profile) Total 2012 Spending by Owners, Family & Friends (est.) $58.11 $60.70 $115,901,848 $121,214,713

32 Estimated Spending for 2013 Visitors Season Non-Taxed Lodging (owner/ friend use) Taxed Lodging Winter $17,498,444 $73,099,202 Spring $27,105,433 $306,309,337 Summer $55,779,355 $502,765,760 Fall $20,831,481 $132,737,840 Total $121,214,713 $1,014,912,138 Grand Total 2013 Visitor Spending estimate $1,136,126,851

33 Contact Information Berkeley Young, Young Strategies, Inc