In a recent blog post, we shared the advantages of conducting compression studies in a planning environment where a room block may not accurately reflect the total lodging demand for an event. With attendees increasingly turning to accommodations outside of the traditional block of hotel rooms, many DMOs like San Francisco Travel Association can estimate and account for these room nights and associated spend, that previously would have been left on the table.
The meetings and events sector specifically represents about 11.7% of the San Francisco’s tourism economy, with the DMO booking a record 1,150 meetings in 2013, which accounted for about 2 million room nights. That year, the organization also explored the opportunity to further inform their understanding of exactly how meetings and events contributed to different sectors of the local economy and government.
As subscribers to DMAI's Event Impact Calculator, the DMO cited three significant beneifts, as Nicole Halmer, Senior Director of Market Strategy and Research at San Francisco Travel Association explains.
“We wanted to demonstrate the direct and total economic impact of an event and be able to break down spend by category, like lodging, transportation, food and beverage, attractions, retail, et cetera,” said Halmer. “We use the calculator as one of many key parameters to make a decision – mostly to demonstrate the value of events to stakeholders ... but also in cases where the registration list analysis shows higher numbers of overnight attendees, it demonstrates the compression the event generated above the contracted room block.”
Download the full case study to see how San Francisco Travel Association estimates event impacts by using the Event Impact Calculator, and the steps the staff takes to pull the most accurate data to drive those calculations.
Monthly demonstrations of the Event Impact Calculator are available. Get the full schedule.