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HomeMy WebLinkAboutMarriott Incentive Presentation 09-30-19Marriott International Proprietary and Confidential |1 Town of Westlake & Marriott Solana Economic Development Partnership 2018 / 2019 Review Marriott International Proprietary and Confidential |2 THANK YOU FOR YOUR PARTNERSHIP! You currently support us with two essential economic development programs. The Hotel Shuttle Incentive Group Booking Incentive Marriott International Proprietary and Confidential |3 MARRIOTT SOLANA 2018/2019 REVIEW 2018 Year End Occupancy 65.5% +1.5pts to LY ADR $168.93 +$14.78 to LY 2019 YTD Recap (thru Aug) Occupancy 68.6% +2.9 pts to LY ADR $160.91 -$9.18 to LY 2019 Forecast Year End Occupancy 67.3% +1.8 pts to LY ADR $161.09 -$7.83 to LY Marriott International Proprietary and Confidential |4 MARKET SUPPLY 2020 New Supply: –Southlake Delta Hotel construction started at beginning of May, hotel will have 240 rooms -13000 SF conference center -6700 SF high end restaurant and bar. The hotel will be at 251 E SH 114, Southlake 76092 which is located 2 miles from hotel.Scheduled to open August 2020. –Hilton Tapestry Collection Hotel will be anchor hotel in Entrada Development, which features 85-acre mixed- use European style village.Development will include 200 luxury condos valued at over $1 million each.State of the Art Chapel going in along with a reception hall in the center of development. Located 1 mile from hotel and scheduled to open fall 2020. –Hampton Inn Keller is located approx. 1 mile away from The Bowden Special Event Center opening early 2020 –110 rooms –The Peabody Hotel Roanoke scheduled to begin construction in mid-late 2019. Construction is anticipated to take up to 3 years. –300 rooms and 30,000 sq. ft. of meeting space; spa; rooftop area with pool/bar. –Renaissance at Silver Lake Crossings in Grapevine –300 rooms, 20,000 sq. ft of conference space, opening 2020 Gaylord overflow due to proximity –Westin Southlake scheduled opening 2020 -253 rooms with 22,000 sq. ft.of meeting space.7,800 sq. ft. Ballroom, 4,000 sq. ft.roof top Meeting Room –Dual hotel of Holiday Inn and Staybridge Suites –will include four apartment buildings, 10,000 square feet of meeting space and more than 300 hotel rooms of which 155 rooms will be for the Holiday Inn and 148 rooms for Staybridge Suites will be coming to 20 acres at 2103 Anderson-Gibson Road, Grapevine –Aloft Trophy Club –opening at corner of Hwy 114 Trophy Club Drive –137 rooms in mixed use development, 50,000 of retail and restaurant. Along with 250 luxury apartments. Marriott International Proprietary and Confidential |5 GROUP INCENTIVE PROGRAM Current Group Incentive Program •Proposed group shall book a minimum of $5,000 in room revenue per program to be considered eligible for a group incentive credit to equal 10% of their room revenue up to a maximum of $5,000 •Groups qualifying for the Rooms Incentive above are eligible to receive a 10% Food and beverage credit up to a maximum of $2,500 Marriott International Proprietary and Confidential |6 GROUP INCENTIVE PROGRAM Proposed New Group Incentive Program •Dollar amount back per room rather than percentage back of overall program, done on a sliding scale to assist in closing business •100-200 actualized total room nights | $10 back per room night •201-349 actualized total room nights | $12 back per room night •350+ actualized total room nights | $14 back per room night •Fri/Sat peak with 50 actualized total rooms night | $10 back per room •Groups cannot have hosted even in last 18-months and we must be competing against another city and/or home city *Funds to still cap at $5,000 per group* Marriott International Proprietary and Confidential |7 GROUP INCENTIVE PROGRAM Proposed New Local Catering Incentive Program •Dollar amount back per person than percentage back of overall program, done on a sliding scale to assist in closing business •$4,000 Food & Beverage Minimum Contracted | $6 back per person •$6,000 Food & Beverage Minimum Contracted | $8 back per person •$8,000+ Food & Beverage Minimum Contracted | $10 back per person •Groups cannot have hosted even in last 18-months and we must be competing against another city and/or home city *Funds to still cap at $2,500 per local group* Marriott International Proprietary and Confidential |8 MARKETING HIGHLIGHTS •Host hotel of University of North Texas Football with marketing package including two Highway Signs and exposure at football and basketball games •2 Diamond Listing with Cvent Meeting Planner website producing a highlighted listing for the hotel and Westlake •Featured in Society Life Magazine with spread about Culinary Team highlighting Westlake •Will be featured in November edition of Simply Westlake •Featured in calendar ad for Chabad of Arlington & the Mid Cities Marriott International Proprietary and Confidential |9 Town of Westlake Group Reader Board Welcome Marriott International Proprietary and Confidential |10 Westlake Group Departure Card