2023-10-18 CHOCVB Minutes - Laserfiche WebLink

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For Approval November 15, 2023 Chapel Hill/Orange County Visitors Bureau Board of Directors Meeting October 18, 2023 Board Members Present: Manish Atma, Mark Bell — Chair, Karen DeHart, Jon Hartman-Brown, Sharon Hill, Grace Holtkamp, Tanya Moore, Rebecca Mormino, Damon Seils Not Present: Spring Council, Heidi Werner Dawson, Lisa Ganzermiller, Earl McKee, Beverly Payne, Karen Stegman Also Present: Scott Czechlewski - Chief Executive Officer, Hillsborough Orange County Chamber of Commerce; Tim Hoke, Aaron Nelson - President & CEO, The Chamber for a Greater Chapel Hill-Carrboro, Meredith Sabye, Union Grove Farm Staff Attendance: Laurie Paolicelli, Steve Brantley, Marlene Barbera, Susan Rice Guest Speaker: Shelly Green, Principal and Chief Executive Officer for MMGY NextFactor Call to Order Mark Bell - Chair, called the meeting to order at 8:11 a.m. Approval of Minutes Mark Bell requested a motion to approve the September 20, 2023 minutes. Sharon Hill so moved and Manish Atma seconded the motion. With all members in favor, the minutes were approved as submitted. Introductions Executive Director's Report: September 2023 • Supply was down -60 room nights from last year to an even 48,000 room nights. • Demand was up considerably from 27,806 last year to 33,027 room nights. This represents 18.8%growth in sold room nights. • As a result of basically flat supply and strong demand growth, occupancy grew nearly 11 points from 57.9%to 68.8%. • ADR growth has normalized in the past two months with growth of only 3.1%from $175.72 to $181.25. • As a result of the occupancy and ADR changes, revenue capture grew considerably (up 22.5%). In September, lodging revenues were $5,986,097. This was up nearly$1.1M to last year and over$800K greater than 2019. • Revenue Per Available Room was up $23 per available room to $124.71 from $101.67.