SportsEvents Magazine

MAR 2017

SportsEvents is edited for those who plan tournaments or other sports events.

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March 2017 36 t SPECIAL Feature with occupancy rates at an all-time high. The demand growth for hotel rooms is outpacing the supply growth, which is likely to create even more tur- bulence for sports event planners. For those reserving room blocks well into the future, get ready for more dynamic hotel pricing contract propos- als. With dynamic pricing, the hotel reserves the right to adjust the quoted rate to be in line with the rates in place at the time of the event. Participation & Events The average economic impact per event was $261,704 in our study, a 4.4 percent increase over 2015. This growth was driven by the increase in spending per athlete and also because there was a 1.2 percent growth in the overall average number of athletes per event. Obviously, some events generate millions in spending and others tens of thousands of dollars. Our calculation is the "average" and not the "mean" economic impact. The "mean" is sig- nificantly lower because of the skew caused by the multitude of lower-im- pact, single-day competitions. Cautious Projections In last year's survey, nearly 58 percent of event planners projected an increase in the economic impact of their events while 38 percent were expecting things to stay about the same. The positive expectations have grown increasingly cautious over the past couple of years. In this year's survey, only 48 percent of planners projected a growth in spending at their events while 44 per- cent think spending will remain fairly steady. The other respondents expect a decline in revenues for various reasons such as declining participation and, in some cases, because their largest events are not annual events. Of those who expect growth, 63 percent suggest that it will come from running more events and only 27 percent forecast the growth to come primarily from greater participation at the events they currently produce. These numbers are also some- what lower than the year before. ► BE CHEERING FOR! FOR AN EVENT THEY'LL BEAST OF THE EAST CHEERLEADING For their annual event, the Beast of The East Cheerleading Competition jumps at the chance at having it at The Wildwoods Convention Center every April. Can you blame them? With 260,000 square feet of flexible space, convenient access to five beautiful miles of free beaches, a variety of nearby accommodations and an iconic boardwalk, youth events here are anything but routine. Choose the Wildwoods Convention Center and your young guests will be giving it an 'A' for Awesome! SCHEDULE YOUR NEXT EVENT WITH US! 800-992-9732 Modern amenities | State-of-the-art communication services | Catering/concession services | Adjacent to Wildwoods world-famous boardwalk and 5 miles of FREE beaches | Over 8,000 hotel rooms nearby | Convenient on-site parking for over 700 vehicles Age Population % (in millions) 0-18 78,182 25% 19-25 30,475 10% 26-34 38,960 12% 35-54 82,570 26% 55-64 41,135 13% 65+ 47,546 15% 318,868 U.S. Population By Age Group* *NOTE: U.S. Population has increased by almost 10 million people since 2010) Source: U.S. Census Bureau Data

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