Northern Kentucky Convention & Visitors Bureau Reports Visitor Spending Jumped 7% in 2010

NEWS RELEASE

Contact:
Tom Caradonio
(859) 655-4157
tcaradonio@nkycvb.com

Northern Kentucky Convention & Visitors Bureau Reports Visitor Spending Jumped 7% in 2010
Newport on the Levee among Honorees at Bureau Annual Meeting

Covington, KY/March 10, 2011–Officials at the Northern Kentucky Convention & Visitors Bureau reported today at its 2010 Annual Meeting that total economic impact of visitor spending during 2010 in Boone, Campbell and Kenton Counties was $280.2 million, up from $262 million in 2009, a 7% increase. Hotel demand grew a robust 8.6% in 2010 in Northern Kentucky, outpacing demand growth in the U.S., Kentucky, Ohio and Cincinnati. Hotel occupancy also grew by 4.5% in Northern Kentucky despite a 3.9% increase in supply as the result of two new hotels opening last year. Northern Kentucky's hotel supply increase was almost twice the national average.

It was the first time in three years that these key business indicators for Northern Kentucky's hospitality industry increased. The Annual Meeting took place at 5:30 p.m. today at the Northern Kentucky Convention Center.

At the Annual Meeting, Bureau President & CEO Tom Caradonio also noted the success of the "Are You the Next Big Attraction?" program that was introduced in 2010 as a way to obtain sales leads from Northern Kentucky citizens. Sales leads generated by the new promotional program directly resulted in almost $1.7 million in group business bookings last year.

Individuals, Attractions, Companies Honored

The Bureau also recognized these individuals, attractions and companies with the following awards:

• Star of Tourism Award winners are Executive Transportation and Newport on the Levee. Executive Transportation was honored for its important role of transporting Northern Kentucky visitors in comfort and safety for the past 50 years, as well as having its executive leadership play long-time, active roles on the Bureau's Board of Directors. Newport on the Levee has been the region's leading entertainment complex since it opened in fall 1999, attracting approximately 3.5 million visitors to Northern Kentucky's riverfront annually.
• Kim Taylor, Associate Director of Enterprise Services at Northern Kentucky University, was inducted into the Bureau's Champions Club for helping the Bureau book the Southern Association of Collegiate Registrars & Admissions Officers that will meet in 2012 and generate an estimated economic impact of $333,000.
• Ron Lovan , President & CEO of the Northern Kentucky Water District (a past Champions Club inductee) was recognized for helping the Bureau book the Kentucky-Tennessee Water Works Association Conference that will meet this July and will generate an estimated economic impact of $391,000.
• Greg Buckler, Campbell County Jailer (a past Champions Club inductee) was recognized for helping the Bureau book the Kentucky Jailers Association Convention that will meet in 2012 and will generate an estimated economic impact of $389,000.

Other statistics reported at the Annual Meeting included:

• The Bureau generated a 9.5% increase in total room nights booked or consumed in 2010 vs. 2009. The Total Bureau Generated Room Nights increase represented a boost of almost 14,000 hotel guest room nights.
• The return on investment for Bureau marketing initiatives in 2010 was $11.93, an increase of 5.8% from the prior year. This figure represents economic impact returned to the community in the form of visitor spending for every dollar spent in Bureau marketing efforts.
• The total community economic impact as a result of 2010 Bureau efforts was $45.9 million, up from $42.5 million in 2009, an increase of 8%.
• Individual corporate travelers remained the largest market segment in Northern Kentucky, comprising 42.5%, followed by leisure (36%), meetings/conventions (19.2%), and government (2.3%).

Caradonio attributed the rise in visitor spending to improved economic conditions and the Bureau's strategic focus on markets that have proven to yield the highest group business sales opportunities. "We have enjoyed success recently by focusing on group markets like sports and religious events, especially now that the Bank of Kentucky Center has been fully operational for more than two years," says Caradonio. "Many groups in these markets have found Northern Kentucky to be an ideal place to hold their events, and our repeat business has been strong as a result."

Annual Report to be Posted Online March 14

For the second consecutive year, the Bureau did not print an annual report in order to reduce costs, increase efficiency and be more eco-friendly. The Bureau's complete 2010 annual report will be posted on its web site, www.nkycvb.com, beginning March 14.

About the Northern Kentucky Convention & Visitors Bureau

The mission of the Northern Kentucky Convention & Visitors Bureau is that of an aggressive sales, marketing, service, and informational organization whose primary responsibility is to positively impact the Northern Kentucky economy through conventions, meetings, and visitor expenditures. The direct economic impact of visitors' spending in Boone, Campbell, and Kenton Counties in 2010 was $280.2 million.