TEAM SAN JOSE
Semi-Annual Update
Presenters:
Nanci Klein, Director, Office of Economic Development and Cultural Affairs Team San Jose: John LaFortune, Ihab Sabry, Laura Chmielewski, Matthew Martinucci, Ben Roschke Community and Economic Development Committee
March 24, 2025
Item (d)1
COLLABORATIVE
LOCAL CAMPAIGN
LOCAL PAID MEDIA
SOCIAL MEDIA
• Performance targets should represent feasible markers of excellent performance within expected market conditions.
• Most performance targets impact the allocation of budgetary resources within the Convention and Cultural Affairs Fund to support facility operations • Overly aggressive performance targets would negatively impact the fund if not met • Given lower activity levels since the pandemic, the fund operates at an extremely thin margin
• The timing of when performance targets are set during the budget process often does not line up with when large customers commit to host events.
TARGET SETTING CONSIDERATIONS
Estimated Direct
Visitor Spending
Future Hotel Room Nights
Booked (Citywide)
Theater Occupancy
Gross Operating Revenue
Gross Operating Results
Customer Satisfaction
Response Rate
$31,974,139
58,334
94%
$22,636,536
$2,217,819
93%
32%
YTD ACTUAL GOAL VARIANCE
$29,394,224
58,501
103%
$22,685,118
$876,425
95%
$2,579,915
(167)
-9%
($48,582)
$1,341,394
-2%
FISCAL YEAR 2024-25
MID-YEAR
San Jose continued its strong year-over-year growth. It began accelerating in Q3 and Q4 of FY 2023-24.
San Jose led the 13 top competitive markets in year-over-year revenue growth at 9% over FY 23-24 and growth in revenue for each available room at 16% over FY 23-24.
DOWNTOWN GROWTH
• Gains were driven by the accelerating recovery of our Downtown. For calendar year 2024, Downtown saw year-over-year growth of 14% in rooms sold, 22% growth in room revenue and 39% growth in revenue for each available room.
OUTLOOK
• Through the first two months of fiscal year Q3, there has been slightly more volatility in the market. Downtown is continuing to perform strongly year-over-year, but there is increased volatility in citywide hotels.
PERFORMANCE
Consumed Group Business
• Full calendar-year 2024 vs. 2023
• Up 14%, but not enough
Citywide Initiatives
• Downtown availability calendar
• Citywide master contract
• Uptown collection
UPDATE
To do so.
Sales Update
IMPRESSIONS
REACH
HOTEL REVENUE
TOTAL REVENUE
Flight + Hotel Revenue
Combined
49,673,851
16,557,950
$15,729,084
INQUIRIES
HOTEL BOOKINGS
FLIGHT BOOKINGS
2,997,653
30,490
13,344
$30,623,499 TOTAL ROAS
Return on Ad Spend $54.82
CONSUMER PAID MEDIA
TEAM SAN JOSE
Semi-Annual Update
Presenters:
Nanci Klein, Director, Office of Economic Development and Cultural Affairs Team San Jose: John LaFortune, Ihab Sabry, Laura Chmielewski, Matthew Martinucci, Ben Roschke Community and Economic Development Committee
March 24, 2025
Item (d)1