Title
Colorado Springs Convention & Visitors Bureau (CVB) - Q2 2018 Performance Measures
Presenter:
Jim Cassidy, CFO, Colorado Springs Convention & Visitors Bureau
Body
Summary:
Report of CVB’s Q2 2018 Performance Measures per the contract with the City of Colorado Springs (City).
Previous Council Action:
N/A
Background:
On November 28, 2017, City Council recommended LART expenditures to be included in the 2018 budget (Resolution No. 137-17). On December 12, 2017, City Council approved the 2018 Budget per Ordinance No. 17-116, which included the appropriation of funds for the LART Fund. The original 2018 LART Fund budget includes $3,862,600 to be paid to the CVB from the Lodgers and Automobile Rental Tax (LART) Fund, per the 2018 contract between the City of Colorado Springs and CVB.
The CVB has provided consistent and long-range visitor promotion to Colorado Springs since 1980. In an effort to better track and measure the CVB’s performance, the City has included additional Key Performance Indicators (KPI’s) that are reported on a quarterly basis. To help measure the KPI’s, the CVB has implemented the Smith Travel Accommodations Reports (STAR) to develop benchmarks against other cities or regions similar in size, demographics, etc.
This item supports the City’s strategic goal relating to building community and collaborative relationships by communicating the status of tourism in the Pikes Peak Region to Council and City staff.
Financial Implications:
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Board/Commission Recommendation:
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Stakeholder Process:
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Alternatives:
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Recommended Action
Proposed Motion:
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Summary of Ordinance Language
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