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HomeMy WebLinkAbout2/15/2007 - STAFF REPORTS - 1.A. Palm Springs Convention Genter- Recent Expansion Statistics Before After Expansion Expansion ExhibitlConvention 09,000 sf 92,000 sf Space Meeting/Function 16,000 sf 316,000 sf Roolms Food Service 8,000 sf 10,000 sf Support/Circulation 69,000 sf 109,000 sf Total (excluding 1591,000 sf 249,000 sf outdoor function area) Palm Springs Convention Center Recent Expansion Statistics Total 20,03 Bond Proceeds S44 ,8zo, 0,0 Total New ,Square Footage 913" 0'00 Dollars/Square iF'oot S 4,82.2 Current Center iDebt Service s6VO01010100 Rent due alllotfiees from City per P L- 1115 S1.12010,000 Total Convention Center IDebt 91 V010"01000 Future Expansion Statistics New TOT Rate Annual Needed Future New Bondi Issue Debt to Cover Square Footage Size Service Debt 40,000 823,148,387 S1 .791,685 15.13% 60,000 $34,722,581 S2.687,528 15,95% 80,000 S46,296,774 S3583,370 16.76' 100,000 $57,870,968 54,479,213 : 17.5.8% TOT Rates in Selected Cities Anaheim 15M100% Las Vegas Strip 9 .01101%, ,Phoenix 12 , 7101% San Diego 101 , 501% Palm Desert 9.0110% Palm Springs Group Hotels 1 ,5'0% 'Palm Springs Non, Grolup r IJ lilt Convention Center Planning Analysis from s' Economics Research Associates f; Prepared for the Palm Springs Convention Center 95 February 2007 �� 1,1 IN Table of Contents I. ERA Experience in Convention Planning II, Methodology III. Key Findings IV, Conclusion c Convention Center Planning Analysis 15 February 2007 Slide 2 h ERA Experience in Convention Planning ➢ ERA is an international consulting firm concentrating in economic analysis for the entertainment industry, real estate, public-assembly facilities, tourism, and economic development. ➢ Since its founding in 1958, ERA has completed over 15,000 assignments. ➢ ERA has performed a wide variety of consulting services including market support, physical programming, financial evaluation, and feasibility studies for the following convention and conference centers: ■ City of Palm Springs, California ■ Los Angeles Convention and Visitors Bureau ■ Flagstaff Convention Center Task Force • City of San Francisco, California ■ Salt Lake City Convention and Visitors Bureau ■ Las Vegas Visitors and Convention Authority ■ City of Hampton, Virginia ■ Bayside Expo Center (Boston, Massachusetts) • Port of Portland, Oregon Convention Center Planning Analysis 15 February 2007 Slide 3 Methodology - Hotel ➢ Hotel Examined competitive and comparable convention centers to PSCC Competitive Set • Long Beach • Ontario • San Diego • Anaheim Phoenix Comparable Set (Based on Size, Region, or Destination Market Orientation) • Savannah Nashville Charleston Knoxville • Santa Clara • Sacramento • Visalia • Identified hotel supply for each competitive and comparable venue (within 1 mile) • Counted hotel room blocks for each competitive and comparable venue • Established Key Relationships Convention Center Planning Analysis 15 February 2007 Slide 4 Methodology - Parking ➢ Parking ■ Counted on-site, off-site, and total parking for: • Competitive Convention Centers • Comparable Convention Centers • Similar Sized Convention Centers (Exhibit Nall Space Range 97,000 — 218,000, 88 in Sample) All Facilities By Region Host City's Population ■ Established Key Relationships Ow - Convention Convention Center Planning Analysis 15 February 2007 Slide 5 Key Findings - Hotel ➢ PSCC is low in total number of rooms within one-half mile of the facility compared to competitive convention centers. ➢ PSCC is high in average hotel distance from convention center. ➢ PSCC is average when examining ratio of convention center space to hotel rooms and total room blocks. 9,000 0.35 8,000 7.000 6,000 cc O 5,000 02 N V t 4,000 '3 0.15 C 3,000 ,;n ,. Z,2'45;". 0.1 m o m o 2,000 � � - ,12311000 `-,,'-raaas Q C m 9 y uJ J Hotel Rooms t Hotel Distance Convention Center Planning Analysis 15 February 2007 Slide 6 Key Findings — Hotel (Continued) 411irI1�I1pI11�li�Pllli11i1�I111P11� ➢ The number of committable rooms within close proximity to a convention center is the most important factor when meeting planners chose a facility. ➢ Generally, meeting planners seek to house their attendees in as few hotels as possible. ■ Simplifies logistics ■ Reduces costs ■ Minimizes exposure to risk ■ Attrition ➢ Research has shown the following relationship between proximity of room block to the convention center and marketability of a convention center ■ 1 — 2 blocks: Closest to ideal without being attached ■ 3 — 5 blocks: Considered an acceptable walking distance if in a clean and safe area ■ 6 + blocks: Likely to impede booking convention business r � Convention Center Planning Analysis 15 February 2007 Slide 7 Key Findings - Parking ➢ PSCC in compared to competitive facilities is low in total on-site parking, but average in total available parking. ➢ PSCC in compared to similar sized facilities is also low in on-site parking, but average in total available parking. ➢ PSCC ranks as average (or competitive) in terms of ratio of parking to square feet of exhibit space. 6,000 4 900 77 4,000 5,000 o .evai 250 3000 re a 0 2 500 •m�m 3.DOD, a i •.,I ,.1 i;, ■OFr-SRe °f • m - ° , .,j"" i ° -200 L0 0, W -Sift 2. j 150❑On j 080 „ ' a 1500 nx. Yi 100 rn o q !0i 1.000 •a'. 1,000 .� - l668,',,,I,�,9, ,-i.' .:ce,yy„„ e so n 2"� 500 •�v , uVi �ot " Cyi y�,u +• �': � ;' T .., ,,, a, 4 it a IdW.s :. . 4g ! D Long Beach ^••••PSCC '�Ontano San Diego Anaheim,l Phoenix All Fpgllhc- We*t Rcgicn Gty Fbpulaticn PSCC Under 100 000 ®On-Ste Parking�Ratlo(Parking to SF of[-xhjyjt Space) Convention Center Planning Analysis 15 February 2007 Slide 8 Key Findings --- Parking (Continued) ➢ Parking is very important to regional and community serving convention events. ➢ District parking strategies can be an effective alternative to on-site parking ➢ PSCC is focused on attracting the "fly-in" and multi-day market segment, so available on-site parking is less important. ➢ Other: ERA was asked to examine truck unloading/loading capacity at the competitive facilites and found that while PSCC has an adequate number or unloading/loading docks (bays) it is deficient in terms of its ability to marshal trucks. Convention Center Planning Analysis 15 February 2007 Slide 9 Conclusion ➢ ERA did not find a "normative" conclusion to answer the question of how many hotel rooms or parking spots are required for X amount of new convention center space. ➢ However, ERA found that PSCC is low in available hotel rooms in close proximity to the facility and low in the number of on-site parking in compared to competitive, comparable, and similar sized facilities. ➢ To take full advantage of the recent expansion, PSCC needs to prioritize efforts to compete in the existing market. ■ Additional convention serving hotel rooms are more critical than parking to serve the perceived needs of the PScC expansion. ➢ Planned hotel development for competitive convention centers ■ 1,000 room Sheraton Hotel in Phoenix, Arizona (2009) ■ 1 ,190 room Hilton Hotel in San Diego, California (2008) ■ Both hotels within one block of convention center Convention Center Planning Analysis 15 February 2007 Slide 10 ERA Presentation Contact Information Economics Research Associates David Bergman Principal 10990 Wilshire Boulevard,Suite 1500 Los Angeles,California 90024 310.477.9585 FAX.310.475.1950 e-mail:david.bergman@econres.com w .econres.com r Economics Research Associates Lance Harris Associate 10990 Wilshire Boulevard,Suite 1500 Los Angeles,California 90024 310,477.9585 FAX:310.478.1950 e-mail:lance.harris@eaonms.com www.econres.com Convention Center Planning Analysis 15 February 2007 Slide 11 Convention Center Hotel Room Summary A5O:uly2oo-e (Committable Rooms) January 1 - '.May 31 Key Hotel Sun Mon Tues Wed Thurs Fri Sat 1 Parker Palm Springs 45 45 45 45 45 45 45 1 Palm Mountain Resort& Spa 50 50 50 50 50 50 50 1 Riviera Resort& Racquet Club 300 300 30D 300 300 30D 3DD 1 Palm Court Inn 100 100 100 100 1 DO 1 p0 100 1 EpIUMarquis Villas 55 55 55 55 55 55 55 2 Spa Reson Casino 100 1GO 100 100 10D 50 50 12 Courtyard by Mardot 30 80 go 80 80 "aD ae 1,2 HRon Palm Springs Resort 220 220 22D 220 22D 220 220 1,2 HoterZoso 1100 100 100 100 100 100 10D 1r2 Hyatt Regency Suites 125 125 125 125 1DD 100 100 1,2 Wyndham Palm Springs 375 375 375 375 375 375 375 1,2 Ramada Resort 200 200 200 200 200 200 200 3 Best Vlestem Las Srisas 25 25 25 25 25 25 25 3 Comfort Inn Palm Springs 75 75 75 75 75 75 75 3 Dora[ Desert Princess 250 250 250 100 10D 1DD 1DD 3 HRon Palm Springs Suites 25 25 25 25 25 25 2C 3 Howard Johnson's Express Inn 40 40 40 40 20 20 20 3 Korakia 2 2 2 2 2 2 2 3 Palm Springs Travelodge 40 4D 40 40 40 40 40 3 Quality Inn Palm Springs 50 5D 50 50 50 5D 50 3 Royal Sun inn 30 30 30 30 30 20 20 3 Shilo Inn 5 5 5 5 5 5 5 Total Committable Rooms 2292 2292 2292 2142 2097 2037 2032 Totals for Key 1 550 550 550 550 550 550 55D Totals for Key 2 100 100 100 100 1 GO 50 50 Totals for Key 1,2 11100 1100 1100 1100 1075 1075 1075 Totals for Key 3 542 542 542 392 372 362 357 Key 1 = Hotels that participate at higher TOT rate 2=Primary hotels requested by meeting planners 3= Arl other hotels agreed to participate in conventions Convention. Pairil ing Su_u:Minm arm 1 Palm springs Hiltm 275 Hotel Zisso 28D 3. "A'Iyaclhaam P-al r7 Springs, 4 Spa. lResort CaA-,ino (HotaLj 2DD Mall �s 6osed, parking still :a:I'KaiEaLAe 5, Hyatc Regency Suite&TUal,l I CC v.t or'll be -n Pached by rnall, rer ava- ior: 6. (Daurrtyard by r4a , Ott IDD 7 PSCC - Amacb Lot 239 1 ,1 Z,-5 ,f Based on parkin , formula of 1�-'• cramilacre) This lot is slated for drff elopmenr within one year and this 8 Enterprise Lot, (Prrecffjl; East of PSCC) 1;i,r Parking will b-e unav ail.ab°le- MD 9, Street Parkriing on C '�- le c .r�emado 10, Spa. Let, (Farmer Prairie Sc11—ner) 400 Tutal! -Confirrmed Rawk ing 4.,1 CONVENTION CENTER PUBLIC PARKING OPPORTUNITIES 1 . Westin Hotel (200 rooms) - City required Hotel parking of 300 spaces, plus City required parking for the condominium units - City option to add in the parking structure up to 500 spaces ' 2. Calle Alvarado & Aleio City has secured the opportunity to lease the parcel at the corner of Calle Alvarado and Alejo from the allottee through the BIA. If used for a parking structure, the site could provide up to 500 spaces. 3. Wyndham Hotel 400+ rooms) - The City staff has had a preliminary discussion with the new ownership of the hotel regarding the possible addition of parking spaces to the hotel site. A low- rise structure could provide approximately 250 spaces. 4. Casino Parking Lot (Tribal Trust Land) - The Agua Caliente Band of Cahuilla Indians Tribal Council has directed its staff, led by Tom Davis, to work with the City in drafting a final Option Agreement which would allow the City/Agency to construct from 500 to 1,500 parking spaces on the present Casino Parking lot. 5. Hard Rock Hotel (400 — 499 room - City required Hotel parking of no less than 500 spaces - Hotel operation of a regularly routed van/tram service MUNIr, 60+ lI ..... .' 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