RIVERSIDE CONVENTION & VISITORS BUREAU (RCVB)
FY 2022-23 QUARTERS 1-3 ONLY
City Funding 1,331,751$
Direct Return ($) on Investment (revenue flow-through to city) 476,986$ TOT revenue generated at hotels 333,211$
Sales Tax (from convention center events only) 39,328$
Parking at convention center only 14,375$
Office rent and parking (RPU building) 90,072$
Difference between City funding and $ returned to City (ROI)/net Cost to City 854,765$ OTHER RCVB IMPACT #s
# of RCVB-booked groups at convention center 30
Convention Center revenue generated by RCVB 2,558,623$
Approximate peak night hotel rooms available for conventions 300 # RCVB-related hotel rooms consumed 15,164
Hotel revenue generated by RCVB groups 2,563,162$
TOTAL Estimated Economic Impact 9,144,850$
Based on hotel roomnights, convention center revenue, and estimated $64 per day spend by visitors (22,088) for meals, transportation/gas, retail/shopping, bars/nightclubs, and other entertainment. EEI does not include employee wages, or other second or third- level economic impacts
Unaudited Figures Provided by RCVB
RIVERSIDE SPORTS COMMISSION (RSC)
FY 2022/23 QUARTERS 1-3 ONLY
City Funding 154,798$
Direct Return ($) on Investment (revenue flow-through to City) 95,874$ TOT revenue generated at hotels 87,418$
Sales Tax (from convention center use) 2,095$
Office rent and parking (RPU building) 6,361$
Difference between City funding and $ returned to City (ROI)/net Cost to City 58,924$ OTHER RSC IMPACT #s
# of RSC-related hotel rooms consumed 4,233
RSC-related hotel revenue 672,444$
RSC-related convention center revenue 114,351$
Estimated Economic Impact (EEI) 3,290,880$
Based on hotel roomnights, convention center revenue, and estimated $64 per day spend by visitors (14,176) for meals, transportation/gas, retail/shopping, bars/nightclubs, and other entertainment. EEI does not include employee wages, or other second or third- level economic impacts