Black Meetings and Tourism

September/October 2014

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B M & T ••• Septemebr/October 2014 ••• 42 T R AV E L DATA RECORDMIAMITRAVEL & TOURISM NUMBERSJANUARY - JULY 2014 R E C O R D M I A M I T R AV E L & T O U R I S M N U M B E R J A N U A R Y - J U LY 2 0 1 4 Demand for travel to Greater Miami & The Beaches hit a new record for January - July 2014, ranking #4 in Revenue Per Available Room (RevPAR), #4 in Average Daily Room Rate (ADR) and #4 in Hotel Room Occupancy Among the Top 25 U.S. markets. TRAVEL CONTINUES TO OUTPACE OTHER U.S. EXPORTS IN 2014 David Huether, senior vice president for research and economics at the U.S. Travel Association, offered the following statement on trade data released recently by the Commerce Department's Bureau of Economic Analysis: "The latest trade figures further validate the travel industry's essential role in revitalizing the U.S. economic recovery. "Travel exports grew by $0.2 billion to $19.3 billion in June — a rise of 8.3 per- cent over the same time last year. "For the first half of 2014, travel exports have grown 6.2 percent, more than twice as fast as other U.S. exports. Travel exports, accounting for nearly one-tenth of exports in the first half of 2014, represent 21 percent of U.S. export growth year- over-year. "Travel imports fell slightly to $12.4 billion, yielding a positive travel trade balance of $6.8 billion. The overall U.S. trade bal- ance stands at a deficit of $41.5 billion, despite a June improvement of $3.1 billion caused mainly by a $2.9 bil- lion reduction in imports. "The improvement of travel export spending affirms the importance of the U.S. as an international travel destination, which has been supported by important policies like the Travel Promotion Act and Visa Waiver Program." MEET PUERTO RICO WITH STRONG GROUP BUSINESS NUMBERS FOR THE FALL $14.3MillionDirectImpactontheLocalEconomy Puerto Rico was selected to host 49 events including, conferences, annual meetings and sports activities for this fall season. This represents an estimated 25,509 room nights and a total direct spending of $14.3 million into the local economy, Milton Segarra, president & CEO of Meet Puerto Rico (MPR- Puerto Rico Convention Bureau), announced recently. MPR is a private organ- ization responsible for attracting meetings, conventions, trade shows and incen- tive groups to Puerto Rico. "One in four rooms occupied in hotels that can accommodate large-scale meetings belongs to the groups and conventions segment," said Segarra. Groups range from multinational companies, to medical, educational confer- ences and sporting events, among others. Segarra said that for August there are 13 groups for a total of 2,718 room nights with an impact of $1.5 million in direct spending for the benefit of the tourism industry. As an example, he mentioned the Caribbean Golf Merchandise Show 2014, the Conference of the Association of Electoral Organizations of Central America and the Caribbean and the Latin America Federation Bonsai Championship. During the month of September the Island will host 14 groups for an estimated total of 11,921 room nights and a direct expenditure of $6.6 million. Twenty two groups are sched- uled for October with a total of 10,870 hotel nights and a contri- bution of $6.0 million. Meet Puerto Rico recently announced that it reached its annual goal by ensuring 409 groups and over 100,000 dele- gates who, in the next few years, will visit the island either for a meeting, conference, convention or incentive travel producing approximately $110 million to the local economy. Record January - July 2014 Average Revenue Per Available Room (RevPAR) Market Rate % Change vs. 2013 1. New York $203.12 +2.2% 2. Oahu Island $184.91 +5.3% 3. San Francisco $164.77 +13.6% 4 . M i a m i $ 1 5 6 . 9 2 + 6 . 1 % 5. Boston $126.70 +11.2% Average Daily Room Rate (ADR) Market Rate % Change vs. 2013 1. New York $244.13 +2.1% 2. Oahu Island $218.39 +5.2% 3. San Francisco $198.05 +11.3% 4 . M i a m i $ 1 9 5 . 0 2 + 5 . 2 % 5. Boston $170.50 +7.1% Average Occupancy Market % Occupancy % Change vs. 2013 1. Oahu Island 84.7% +0.1% 2. New York 83.2% +0.1% 3. San Francisco 83.2% +2.1% 4. M i a m i 8 0 . 5 % + 0 . 9 % 5. Los Angeles 80.3% +3.6%

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