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Cabarrus County Tourism Authority <br />Bullet Points <br />3rd Quarter 2010 -2011 <br />Revenue — Based on January - March Hotel Stays <br />• Through the first 3 months of 2011 Hotel Occupancy is up 5.3% to 2009 while <br />Revenue Per Available Room is up 1.4 %. Average Daily Rate lagged behind <br />2009 by 3.7 %. The State was also up 5.3% in Occupancy and RevPAR for <br />was up 9.0 %. <br />• Total Room Demand, up 11.7% YTD, remains the strongest in the region. <br />Cabarrus County is still ahead of Mecklenburg County at 7.6% and the State <br />at 6.7 %. Total Lodging Revenue collected January through March was <br />$13,950,786 or an increase of 7.6% over 2009. <br />• Total Sports Development Revenue collected through March 31st is <br />$565,741. The CVB Board is still finalizing options for this fund balance. <br />Salary and Employee Benefits <br />• Total Salary and Benefits was under budget by $7,542 in the 3rd qtr. The <br />Bureau currently has 2 open positions that it expects to fill in June or July of <br />this year. <br />• Unemployment Insurance rates for the Bureau rates increased from 1.2% to <br />2.72 %. 1.2% was the Bureau's initial rating from 2008. <br />Administration and Operations <br />■ The Board of Directors voted to relocate the Bureau's office and Visitor's <br />Center to Exit #49. This relocation will take place at the end of July. <br />Associated costs such as security deposits were made in the 3 rd qtr. <br />Marketing <br />• The Bureau was under budget by $17,244 in Marketing in the 3 rd qtr. The <br />second Marketing Agreement entered into with the Speedway was budgeted <br />in June; however payments have been made quarterly through this fiscal <br />year. <br />• The Destination Guide was recently just completed. 120,000 copies of this <br />piece are produced annually and it educates visitors on hotels, restaurants, <br />and attractions. It is also a great source of information for local residents who <br />might have family or friends visiting. <br />Excess of Revenues <br />■ Total Revenues over Expenditures for the 3 rd qtr was $95,686. Less Sports <br />Development allocations of revenue the net Revenue over Expenditures in <br />the 3rd qtr. was $25,327. <br />Notes <br />■ Tachometers for February - April are included in this report. <br />Attachment number 1 <br />1 -2 Page 359 <br />