Revelations and Thought Leadership at the First Annual National TID Summit
A few weeks ago, our team here at Civitas hosted the first-ever National TID Summit! It was a jam-packed day full of virtual presentations and panel discussions with leaders and experts from across the tourism industry – we were thrilled to have 375 attendees join us from 5 countries, including the US, England, Japan, Canada, and South Africa. We want to extend a special thank you to our incredible guest speakers and panelists, who collectively shared a wealth of knowledge and experience. We’re already looking forward to next year!
Our first guest speaker, Adam Sacks of Tourism Economics, presented never-before-seen data in his session: The Economic Case for Tourism Improvement Districts to Drive the Recovery, presented by STR. Adam shared powerful, conclusive data demonstrating that destinations with Tourism Improvement Districts (TIDs) are objectively more competitive and drive higher economic impact than those destinations without.
In addition to explaining the far-reaching benefits that TIDs generate for their destinations, Adam’s data showed that destinations with a TID in place consistently outperform those without TIDs. Adam presented market-specific data on a local level that showed that hotel properties participating in a TID receive a greater benefit from TIDs than those in the same market that are not TID members. Nationally, Adam and his team conducted a study comparing 100 total cities, 29 of which were cities with TIDs and 71 cities without TIDs. According to the results of this study, on average, TIDs produce a 2.1% lift on hotel room demand and a 4.5% lift in hotel room revenue year-over-year. To put this in perspective, lift on hotel room demand and revenue represented an increase in 150,000 room nights and $51M, respectively, for the average destination in 2019.
Adam’s presentation set the stage for the rest of the day, with each subsequent panel of industry leaders building upon the revelations made in his groundbreaking study. In Preparing & Managing Your TID Wishes, attendees heard from CVB veterans who have all implemented TIDs in their destinations: Susie Santo, President and CEO of Visit Wichita; Adam Burke, President and CEO of Los Angeles Tourism and Convention Board; and Jenniffer Johnson, Vice President of Operations at Monterey County Convention & Visitors Bureau. Next, hoteliers Javier Cano, Area General Manager of Marriott Hotels Los Angeles; Mark Dorr, President of NYS Hospitality and Tourism Association, Victor Dollar, Senior Vice President of Sales for Brighton Management; and Sandi Fredrickson, General Manager for Dimension Development, shared their insight in What Hotel Ownership Really Wants to See From a TID. Two breakout sessions – Exploring a TID? Start Your Journey Here! – and – You Have a TID, So Let’s Talk Sustainability – provided attendees with opportunities to drill down on the next steps for their destinations. Finally, a fireside chat with Caroline Beteta, President and CEO of Visit California, provided an overview of the first and only statewide TID.
Armed with Adam’s compelling data and the shared insights of industry leaders, Summit attendees are poised to lead economic recovery efforts for their destinations. If you didn’t get a chance to attend the Summit, never fear – Adam’s presentation, as well as all of our other panels, are available. Visit the National TID Summit page to learn how to gain access or reach out to our team.