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Host Introduction The Aloft Hotel was represented by Tina Mazzullo, Director of Sales. She shared that the hotel has a new General Manager. Ms. Mazzullo reported that they have 134 guest rooms with an equal distribution of king and queen doubles that allow them to accommodate university travelers as well as travelers visiting the RTP. They pride themselves on being a little different than the other area hotels and their goal for 2017 is to bring more fundraisers into their WXYZ lounge as well as paint nights and meet up groups. They offer a shuttle within Chapel Hill. Finance Report Penny Rich, Finance Chair, reported that the budget is on target at this point. She further reported that we have spent a large part of our advertising budget and have received a strong response especially in the LGBT market and will have a new video coming out in the spring. Carrboro and Hillsborough, as well as VisitNC have committed to the funding of the NATJA conference coming in May of 2017. Laurie Paolicelli noted that in looking at upcoming revenues across the market in Orange County a meeting was held with General Managers from several properties and the request was made of the Bureau to look at a supply and demand forecast based on trends since 2000 and study anomalies. Guest /host speakers Chair Waldorf introduced David Routh, Vice Chancellor of Development for UNC. He shared that the college and the town are interdependent. In a marketing survey his office asked alumni what are the qualities and characteristics of a great university and went on to ask what they thought the characteristics are that make their university great. What came through were the love of the campus and the love of the town. To that end, UNC Development will lean heavily on images of the place they love in its upcoming campaign. They have a staff of 250 people who raise approximately $500,000,000 annually. In 2008 Carolina wrapped up a $2.4 billion campaign. In 2015, while out of campaign they raised $447,000,000 and in 2016 surged to $495,000,000. This enables the university to build a financial model that is taking it more towards private support than public support. While the state of NC supports its system institutions, the fact is UNC is getting $250,000,000 less from the state now than it was five years ago. At private universities they start with their freshman class, letting them know they are enjoying all this because of the generosity of those who have gone before them and sharing with them the expectation of honoring and supporting the university after they have completed their education. They are tilting the model to remain excellent and remain public. This past year 14% of the freshman class qualified for the Carolina Covenant. UNC admits students on their merit and is a need blind institution, meaning after they are admitted the University looks at their need rather than limiting the number of students who need financial aid. Students who come from the most economically challenged families graduate from Carolina debt free. Those families on average had an annual income of less than $25,000. The University is proud of the access it provides. They have started the quiet /leadership phase of anew fundraising campaign that will go public next fall. They want to go public and be able to say they have 40% in hand. They are presently ahead of schedule. Their working goal is between three and four billion dollars. They will need to drive a lot of traffic to Chapel Hill to facilitate engagement which precedes giving. Ms. Paolicelli asked Mr. Routh to encourage groups he works with to bring their conference needs to Orange County as we are seeking to boost Sunday— Thursday hotel night sales. He stated that many of the conferences and continuing education opportunities offered by the University have been dramatically hurt by HB2, and this in turn damages the revenue stream for everyone. Executive Directors Report Laurie Paolicelli recognized Karen DeHart with a proclamation of appreciation for her service to the Visitors Bureau Advisory Board as her term comes to an end. Karen thanked Laurie and the board and introduced Kayla Austin who will take her place representing the NC High School Athletic Association on the board. Kayla is their new director of 2 1 P a g e CHOCVB BOD Meeting October 19, 2016