NORTHERN KENTUCKY CONVENTION AND VISITORS BUREAU
NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Frances Moad
(816) 506-0037 (m)
E-Mail: Pressroom@nkycvb.com | www.nkycvb.com
NORTHERN KENTUCKY CONVENTION AND VISITORS BUREAU
Covington, KY/February 19, 2004-Officials with the Northern Kentucky Convention and Visitors Bureau exuded optimism in reporting 2003 results today at the CVB’s Annual Meeting, held at the Northern Kentucky Convention Center.
Highlights of the report include:
· Northern Kentucky hotels posted a 54.2 percent occupancy rate for 2003 brought about by a strong 3.9 percent increase in demand over the previous year. Compared to the demand increase of 1.6 percent on a national level. “It is clear that the Boone, Kenton and Campbell County hotels are aggressive about getting back their economic health,” stated Tom Caradonio, Bureau President and CEO. “they have continued to drive room night sales over the last two years, still climbing out from the devastation of 2001’s 13 percent demand drop.” Northern Kentucky’s demand increase, which is the best indicator of an area’s real growth, outpaced the State of Kentucky at 0.8 percent, the State of Ohio, 1.9 percent and Cincinnati, 2.3 percent.
· Total economic impact for visitors’ spending in Boone, Kenton and Campbell Counties in 2003 was $224 million, up two percent from 2002. A marginal growth in Average Daily Rate of only 0.3 percent prevented the 3.9 percent increase in room demand from making an even bigger revenue impact. “This indicates that while travelers are returning, “ said Caradonio, “they are unwilling to accept significant increases in room rates. It also indicates that hotels are operating in a highly competitive and volatile market, fighting for their fair share of the returning customers.”
· Visitor spending broke down into the following categories with lodging leading the way at $109.2 million or 49 percent. Restaurants profited $52.3 million or 23 percent. Shopping translated to $27.7 million or 12 percent. Entertainment represented $16.5 million or seven percent, while transportation was $12.6 million or five percent. These percentages mirror 2002 figures. Corporate travelers continue to be the largest market segment in Northern Kentucky (42 percent) followed by leisure (35 percent), meetings and conventions (21 percent) and government (two percent). Percentages were nearly identical to those in 2002 in each of these two traveler segments.
· The Bureau’s sales and marketing initiatives generated $69.5 million for the local economy, an increase of 14 percent from 2002.
· For every dollar spent on marketing expenses, the Bureau returned a record $24.76, up 11 percent from 2002.
Bureau President and CEO Tom Caradonio was pleased with the figures and is hoping for more of the same in 2004. “We are proud of our accomplishments and continue to strive to improve our results in serving as good stewards of the resources provided by the hospitality community.”
Caradonio remarked that the Bureau is making progress on additional growth this year. The Bureau has booked 38 conventions and meetings for the Center for 2004, good for approximately 32,000 room nights, which would be a new benchmark for the facility. However, the organization is shooting for as many as 40,000 room nights.
The Bureau is funded by a four percent room tax on Northern Kentucky hotels. Of that amount, three percent goes to the Bureau with the remaining one percent allocated to the center.
Also recognized at the annual meeting were three of the latest additions to the Bureau’s Champions Club. Membership is granted for community leaders who help land convention or meeting business for the Convention Center. This year’s honorees are Joe Koester of Herzog Jewelers who was responsible for the Retail Jewelers Organization (RJO) planning its July, 2004 meeting here. With 600 attendees, the economic impact of RJO is expected to be $290,000. Don Biggs and Matt Chamberlain were also saluted for helping to bring Blue Star’s Vartech conference to town last summer, producing 300 attendees and an economic impact of $278,153.
The Bureau also singled out one organization and one individual for its Shining Star of Tourism Awards. Hofbrähaus Newport became the first authentic Hofbrähaus in America when it opened last April and attracted more than 160,000 first-time guests to sample the Bavarian and American cuisine and stroll the outdoor Bier Garden.
Dan Fay, President and Founder of Commonwealth Hotels was recognized for his 15 years of outstanding service to the Bureau which includes his current role as President of the Bureau Marketing Committee Chairman and Board of Commission member. Fay also Chairs the Board of Commissioners of the Convention Center. Comfort Suites/Newport housekeeper Pepper Groves received the first annual Bureau Hero Award for retrieving airline tickets from a dumpster for a guest. The Award goes to non-salary employees who go beyond the call of duty in serving hotel guests.