2013 Rental Participants Meeting - Kingsmill Resort · Group Recap . 2012 Year End Revenue Review...
Transcript of 2013 Rental Participants Meeting - Kingsmill Resort · Group Recap . 2012 Year End Revenue Review...
February 9th, 2013
2013 Rental Participants Meeting
Robin Carson
Welcome
2012 Rental Participants Meeting
Agenda
Rental Participant Meeting
• Welcome and Introductions Robin Carson
• 2012 Year End Revenue Review Michael Shannon
• 2013 Marketing Plan Rich Keurajian
• Update of Ten Year Plan Robin Carson
• Kingsmill Capital Improvements Kevin Kolda
• Kingsmill Real Estate Update Gary Raymond
• Status of Soft Goods Renovation Michael Shannon
• Status of 2015 Contract Michael Shannon
• Dominion Power Update Robin Carson
• Question and Answers Robin Carson
Michael Shannon
2012 Year End Revenue Review
2012 Year End Revenue Review
Top Concerns
Commissions, Commissions,
Commissions!
2012 Year End Revenue Review
Commissions 2012
• Resort Commission Expense grew by almost 60%
• 58.8% Increase over 2011
• Total Commissions, as a Percent of Sales
• Grew from 2.0% in 2011 to 2.8% in 2012
2012 Year End Revenue Review
Group Commissions
• Third Party Bookings
• Companies that Outsource Meeting Planning
• i.e. HelmsBriscoe and Maritz Travel
• These Commissions remain in the Traditional Range of 10%
to 15%
• Accounts roughly 15% of Group Bookings
2012 Year End Revenue Review
OTC, Online Travel Company • TravelClick, iHotelier
• Provides a Service as Opposed to Driving Business
• Links Directly to Our Home Page
• Provides the Functionality & Security Required to Book
Online
• Ensures We are Able to Keep Up with Ongoing Technology
Advances
• 2.5% Commission
2012 Year End Review
OTA, Online Travel Agency
• Expedia, Hotels.com, Orbitz, Priceline, and many, many
more
• Provide a Revenue Stream as Opposed to Providing an
Online Service
• Often Used as a Search Engine
• Many Customers “Shop and Hop”
• These Commissions are in the Range of 15% to 30%
2012 Year End Revenue Review
Searches by Destination
2012 Year End Revenue Review
Travel Websites
2012 Year End Revenue Review
Mobile Phone Travelers
• Tablet Users Travelers Average Booking Window
• 14 Days in Advance of Stay
• Mobile Phone Travelers Average Booking Window
• 1.7 days in Advance of Stay
2012 Year End Revenue Review
The Good News!
• Total Leisure Bookings Increased by 13.7%
• Expedia, alone, accounted for 3467 Room Nights
• Expedia Commissions Renegotiated
• From 30% in 2012 to 25% in 2013
• Total Commissions as a per cent of sales
• Remains Under 3%
2012 Year End Revenue Review
Group Recap
2012 Year End Revenue Review
Leisure Recap
2012 Year End Revenue Review
Total Room Recap
Rich Keurajian
VP Sales & Marketing
Sales & Marketing
Market Segments
STR Report
Revenue Management
Key Objectives & Updates
Media Budget
New Ad Agencies
Online Marketing
Website & Social Media
Booking Pace
Kingsmill Championship
Group Segments
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2010 2011 2012
3 Year History of Group Rooms by Segment
Corporate SMERF Association Government Weddings
Resort Best Practices
Annual Roundtable January 28, 2013
Marriott Marquis
Revenue Management
• "Hotel pricing in the U.S. market is "price inelastic" on an
industry wide basis for all hotel types. That means
lowering prices will not stimulate enough incremental
demand to make up for the rate reductions; there isn't
enough demand in most markets to compensate -
therefore, the net result of lower rates is lower revenue
levels.”
2012 Distribution Analysis – STR Special Report – Executive Summary
Rate Considerations
Supply and demand
Competitors pricing
Booking pace
Lead time
Booking window
Forecast occupancy
Historical data
Managing Rates
Monitor pace and RMS recommendations on a
daily basis
Factor in current conditions and market
intelligence
Adjust available rates upward whenever possible
Increase deployment of “value added” packages
with perceived high value inclusions
Reduce deployment of “flash sales”
Adjust rates by season and room type
Updates & Initiatives
New Sales & Marketing leadership at Xanterra: Ms. Betsy O’Rourke, Vice President Sales & Marketing
Mr. Michael Gunstanson, Director, Digital Marketing
Mr. Daniel Borovsky, Director of Revenue Management
Ms. Karen Lukanic, Director of Sales
Kingsmill created a Washington DC based Sales Manager position
Kingsmill has outsourced a full time Social Media position
Kingsmill has hired three new agencies Dana Communications – ‘Branding and Offline advertising’
VERB Interactive – ‘Digital Marketing, Website and Social Media’
Weber Shandwick – Public Relations
Dana Communications
Brand Strategy and Development
Core Creative
Research Management
Marketing Digital/Mobile
Traditional
Social Media
Events and Promotions
SEM
Media Planning and Placement
Tracking, Analysis and Reporting
Dana’s Clients
Dana’s Alliances
Dana’s Brand Objectives
Conduct Branding Session with Kingsmill Team
Tone & Manner
New Creative to reflect the fun, playful side of Kingsmill
Promote Kingsmill as a destination within a destination
Brand & Service Icons
Develop Kingsmill brand promise and translate to customer
through brand and service icons
Strategic Partnerships
Packaging
Lead Generation
Preferred Hotels
IMEX
VERB Interactive
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VERB Interactive is 100% focused on digital marketing for the travel and hospitality industry providing solutions for resorts/hotels, destinations, major cruise lines, golf
courses and festival/event marketing.
Integrated Travel Planning
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Online Marketing Approach
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Online Consumers
Website Visitors
Shoppers
Conversions
Conversion Funnel Analytics Focus
Track Online Consumer Behavior, by Segment
From Ad Impression thru to Conversion
Focus on Key Metrics
Cost-per-conversion, -click, -lead, etc. Visitors --> Shoppers --> Conversions
Detailed Reporting and Analytics
Ongoing Key Metric Analysis & Trending
Optimization and Scalability
Test Improve Repeat
Digital marketing is more than Internet advertising. Kingsmill will partner with VERB for strategic set up, marketing, ongoing analysis and optimization.
Continually improve performance over time leads to lower cost per conversion.
Offline
Online
Online Marketing Strategy
Develop campaigns that leverage targeted media opportunities and drive measurable, cost-effective, conversion results.
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All media drives to the website for measure against conversions including:
1. Visitors –users coming to the site 2. Shoppers – % of visitors accommodations, packages, etc. 3. Conversions – % of visitors taking a desired action
• Reservations • Newsletter, etc
•Virginia
•Regional Drive Market
•Top US Mkts ~DC, Maryland, New Jersey, North Carolina, Pennsylvania, etc.
Geographic
Origin Markets
•Golf Resorts
•Spa Resorts
•Resorts, Suites, etc.
Product Segments
•Seasonal – Spring, Summer, etc.
•Family, Beach Vacations
•Events
Interest Segments
Online Marketing Channels
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Search Engine Marketing Reaches the right customer at the right time
Global, targeted, measurable
Additional reach with Content, Image Search, etc.
Utilize all search engines Google, Yahoo, Bing, etc.
Most efficient and effective advertising
Display Advertising Reaches qualified users and provides supplemental reach
Utilize content, keyword and placement specific targeting
Re-targeting enables Kingsmill.com visitors to remain top of mind
Mobile Search Rapidly growing Mobile and Tablet usage
Separate campaigns to optimize conversion
Video Engage consumers on YouTube with cost effective video advertising
:30 spots targeting specific markets and consumer interests
Leverage multiple online channels to maximize reach, measurability, efficiency and effectiveness of online marketing efforts.
Search Engine Marketing
SEM is the most efficient and effective online media option and will form the foundation of the Kingsmill Resort online media plan for 2013
Timing: SEM campaigns launched in January and run for the full year ~ trending would follow consumer research and booking trends peaking in summer
Campaigns: multiple individual campaigns are being developed to specifically target individual groups of consumers (geo, interest, etc.). Campaigns will expand and grow based on performance.
Tracking: all campaigns are tracked against key performance indicators Spend > Clicks > Shoppers > Conversions (bookings / revenue)
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Re-Targeting
Users visit an average of 22 sites over 9 sessions before booking (Google & Compete.com 2010 study)
Tag site visitors and text ads will display throughout the Google Content Network (89% of US Internet users)
Cost per click pricing – only pay for visitors who respond to the advertising
Relatively high conversion rate and low cost per conversion
Re marketing enables Kingsmill Resort to cost effectively remain top-of-mind during the research process
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Mobile Search
Smartphone and tablet usage represent one of the most rapidly developing opportunities
Google estimates that by 2013, more than 50% of all searches will be from a mobile device
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Opportunity to develop specific, dedicated Mobile focused campaigns
Better performance through granular control over bids, budget and keywords
Create dedicated, mobile optimized ad units, targeting, landing pages and conversion goals
New Opportunities - Video
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Online video ad option enables Kingsmill to cost-effectively engage users with video
YouTube is the 2nd largest search engine
Multiple targeting options including:
Consumer geography
Video content
Consumer Interest Segment
Campaigns:
TrueView Video Ad campaign: pay per completed view of promo videos – only pay when the viewer has watched at least :30 seconds of the ad (or to completion if less than :30)
Current costs average $0.10 - $0.20 per completed 30 second view
Tracking: all campaigns will be tracked against key performance indicators
Spend > Consumer Engagement (videos watched) > downstream impact/metrics
Website – Social Media
The Website will serve as a hub for all social activities, as the social strategy is focused
on measurement and conversion.
Engage with current and prospective customers via Social Networks
Focus will be placed on Facebook, Twitter, Pinterest, YouTube and niche blogs/golf communities.
Monthly approved content calendars will be prepared to tell the story of Kingsmill
Content units consisting of in-market advertising, golf, photo/video engagement, all while addressing
“What’s In It For Me?” for the prospective guest.
Primary Outreach to top-tier golf blogs and forums will be a priority.
Secondary outreach to lower-tier golf blogs and more general lifestyle/golf blogs will receive different
messaging/priority
Social Media Monitoring and analysis via Google Analytics will play a key role in the
ongoing success, moderation and enhancements to the social media strategy.
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Website – Social Media
It is expected that the Website will empower guests at Kingsmill to:
Upload photos, stories and video to be share with Kingsmill’s audience.
Approve content to be syndicated on a social media focused micro-site.
Approve content to be re-purposed on future initiatives or social channels such as Facebook and
YouTube, or the parent Website.
Syndicate (e.g. “Like”, Pin, Tweet) content from the Website to one’s own Facebook profile, Twitter
account, etc. We want people to share in the Kingsmill experience.
Website will be positioned with consumer driven content and brand supplied content
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Consumer Driven Content
Develop a Social Media Hub – one touch point for all social and consumer driven
content (e.g. Legends of Kingsmill).
• The site acts as the hub for all information and can publish tales to custom Facebook applications and
social feeds which talk back and forth to each other
Users submit content on Facebook, it lives on both Facebook and the website and
vice versa.
• Facebook Apps pull content from Website database
• Users authorize content published on Website to be published on Facebook, etc.
• All publishing is 100% moderated.
Inbound links from various social platforms helps to increase the overall visibility of
Kingsmill.com thus improving SEO.
The social media hub becomes the launch pad for all social activities, and supports
overall SEO growth.
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Key Metrics
Traffic to Kingsmill.com:
• Direct
• Organic Search
• Search Marketing
• Display Advertising
• Other Sources
Visitors Shoppers Conversions
Visits to key pre-conversion engagement pages:
• Accommodations
• Packages
Completion of target action:
• Reservations
• Newsletter Signups
Key metrics are tracked and trended on a weekly basis and used to continually optimize marketing campaigns over time.
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2013 Group Booking Pace (contracted rooms as of 2/8/2013)
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Q1 Q2 Q3 Q4 Total
2012
2013
2013 Group Prospects (rooms as of 2/8/2013)
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2012
2013
Kingsmill Championship
• 62,000 Spectators
• Extended coverage on Golf Channel – 14 hours
• Jiyai Shin, 2012 Champion
• April 29 - May 5, 2013
Robin Carson
Update of Ten Year Plan
Kevin Kolda
Resort and Condo Projects
2012 Capital – The Big Stuff
• Sports Club Pool Renovation – Spring 2012
2012 Capital – The Big Stuff
• James Landing Grille – opened in July
2012 Capital – The Big Stuff
• New Marina Store – opened in June
2012 Capital – The Big Stuff
• New Resort Pool Complex (pool, lazy river and bar)
- opened in August
2012 Capital – The Big Stuff
• (2) New Event Lawns
2012 Capital – The Big Stuff
• Eagles Bar and Restaurant Renovation
2012 Resort Capital – By Dept.
• F&B Capital Improvements - $62,000
• Eagles bar/restaurant renovation
• Eagles steamer refurbishment
• Eagles cold line refurbishment
• JLG carpet and paint
• Bray Links Tent fence addition
2012 Resort Capital – By Dept.
• Sports and Spa Capital Improvements -
$175,000
• Nail salon upgrades
• Sports club pool furniture replacements
• Locker room improvements
• Spa massage table replacements
• Additional towel bins
• ADA pool lift additions
• Marina SandPro replacement
2012 Resort Capital – By Dept.
• Golf Capital Improvements – $283,000
• Rough mower replacement
• Greens fans replacements
• Golf course pond repairs
• Golf course tunnel painting
• Golf greens roller replacement
• Woods Golf Course erosion repairs
2012 Resort Capital – By Dept.
• IT Capital Improvements - $500,000
• System virtualization
• Anti virus software updates
• PC and printer replacements
• Marina communications wiring upgrades
• Ipads for Sales and Marketing
• Cabling to Cottages on the James
• Wiring closet upgrades
2012 Resort Capital – By Dept.
• Infrastructure Capital Improvements - $830,000
• Sports Club roof replacement
• Interior lighting conversions property wide (energy)
• Awning replacements (Sports Club, Tennis & BP)
• Various HVAC system replacements (sports, golf shop)
• Parking lot paving and seal coating (finish in 2013)
• Security camera upgrades and additions
• Wareham’s Pond dam repair (finishing now)
• Exterior lighting additions for safety (still underway)
• Various plumbing repairs and upgrades
• Laundry equipment refurbishments
• Planned Projects
• Entrance Portico Refurbishment - replace glass, replace rotten wood, new fans, paint, freshen up guest arrival experience
• Eagles Sewer System Improvements - underground sewer work to replace aged system
• Spa and Ladies Locker Room Improvements – (closed 2/24 – 3/4) new carpet in spa, hair salon renovation (new furniture, cabinet changes, mirrors, ceiling, lighting), locker room planned maintenance work
• Men’s Locker Room Improvements – (closed 3/4 -3/11) new carpet and planned maintenance
• James Landing Grille Enhancements – (closed 2/26 – 3/7) carpet downstairs, booths up and down, trellis expansion, exterior ambiance lighting on dock and sea wall, fire pit enhancements, walk in cooler
• Handrail Painting – converting all handrails around resort to white
• Marina Water Sports Equipment– jet skis and pontoon boat for rental
2013 Resort Projects
2013 Resort Projects
• Planned Projects - continued
• Sports Club Pool Work – kiddie pool removal, landscaping, pool equipment enhancements (complete before spring opening)
• River Pool Enhancements – check-in area cabinets, pump room work and ramp, bar awning and bar security doors, pool vac, additional concrete, etc. (complete before May opening)
• New Outdoor Meeting Space Furniture – new, cast aluminum tables and chairs for meeting space patios
• Eagles Awnings Replacement – new awnings in green and white standard (before LPGA)
• Conf. Space Renovation – add air wall between Yeardley and Wareham for more flexible meeting space
• Banquet Dance Floor Replacement – new dance floor for conference use
2013 Resort Projects
• Planned Projects continued
• Banquet Kitchen Equipment – new combi oven, plate racks, heated cabinets, utility carts, etc.
• Tennis Projects – clay court lifts and new rental bikes (before summer)
• Golf Enhancements – new tee signs, new water boxes, new bag drop racks
• Interior Conf. Space Furniture – new soft goods for lobby and pre-function areas, etc.
• Various IT projects – Opera conversions and associated programs (planned for fall 2013)
• Digital Signage – digital signage for lobby and conf. spaces fro guest communications
• Lighting Upgrades – finish interior lighting conversions, continue exterior lighting additions
2013 Resort Projects
• Planned Projects continued
• Resort Infrastructure Projects – various HVAC replacements, 402 guest home windows, JRGB HVAC work
• Golf Infrastructure – replace River Course irrigation pumping system and transfer pumps
• Environmental Projects – erosion repairs at Woods Course, complete Wareham’s pond dam repairs
• River Walk Project – design river walk and boardwalk from River Pool, River Cottages and 18th hole cart path to marina
2012 Condo Projects
• 2012 Condo Improvements by Resort
• Upgrade of Condo TV Service – converted TV service from analog signal to digital signal with HD service and added channels including Golf Channel and others
• Upgraded Internet Service in Condos – installed fiber optic backbone to 17 buildings, upgraded wireless hardware in rooms to commercial grade, switched support service to Global Gossip from Ethostream (doubled bandwidth and significant speed increase)
• Onity Key System Upgrade – hardware and software upgrade of room key system (underway now)
2013 Condo Projects
• 2013 Condo Improvement Plans
• Proposed Condo Exterior Lighting Conversions – convert stairwell and entrance door lights to LED, proposal submitted to Associations for approval (LED drastically reduces flying insects around lights for guest quality improvement, energy savings for Associations)
• Condo Window Replacements – resume window replacements in condos, owners to be notified for approvals
• Continue Wireless Internet Upgrades – continue installation of wireless access points and Global Gossip conversion from Ethostream in remaining buildings
• Onity Security Upgrade – electronic board replacements in all room door locks, cost is $12.50/door (charged to owners)
• Soft Goods Renovation – planned for early March
2012 and 2013 Condo PMs
• Complete 2012 Fall/Winter PMs – 24 buildings are
complete, 11 remaining to be completed by Spring Break
• Includes bi-annual HVAC service
• Lighting retrofits (one time)
• 2013 Fall/Winter PMs – PMs start in October 2013
• Includes bi-annual dryer vent cleaning
• Includes bi-annual chimney cleaning
Prevailing rate in 2013 for maintenance work will remain at $40/hr. for general
maintenance and $50/hr. for skilled (electrical and HVAC) maintenance
Gary Raymond
Winding Road Development
Kingsmill Real Estate Update
Cottages on the James
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70 Site Plan
Cottages on the James
Pools with Model Cottage in Background 71
Model -
Cottages on the James
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Burwell’s Bluff Homes
Location Plan
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Burwell’s Bluff Site Plan
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Burwell’s Bluff Cardinal
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Three Bedroom – 2,262 Square Feet
Burwell’s Bluff Cardinal
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Three Bedroom – 2,262 Square Feet
Cardinal - Floor Plan
Three Bedrooms 2,262 Square Feet
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Burwell’s Bluff Eagle
Three Bedroom – 2,582 Square Feet 80
Burwell’s Bluff Eagle
Three Bedroom – 2,582 Square Feet 81
Eagle - Floor Plans
Three Bedrooms – 2,582 Square Feet 82
Burwell’s Bluff Heron
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Four Bedrooms – 2,782 Square Feet
Burwell’s Bluff Heron
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Four Bedrooms – 2,782 Square Feet
Heron - Floor Plans
Four Bedroom – 2,782 Square Feet 85
Burwell’s Bluff Osprey
Four Bedroom – 3,290 Square Feet
Front Elevation
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Burwell’s Bluff Heron
Four Bedrooms – 3,290 Square Feet
Rear Elevation
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Osprey - Floor Plans
88 Four Bedrooms – 3,290 Square Feet
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Cottages on the James
Open House
Today
From 12:00 to 6:00 PM
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Or drop by the sales center in the Resort
Center open 9:00 AM to 5:00 PM daily
Leanna Williams
Kingsmill Resort
Development
Lisa Gero
Kingsmill
Realty
Michael Shannon
Soft Goods Upgrade
Status of 2015 Contract
Status of Soft Goods Renovation
• The Original Target Start Date was Monday, February
25th, 2013
• Delay with Fabric from one Vendor has pushed back
Schedule Three Weeks
• Units will not be taken out of Inventory over Spring Break
• Be sure to contact Anicio Holmes-Brown Regarding your
Options for Furniture Removal
Status of 2015 Contract
• Current Contract Expires November 30th, 2014
• New Contract Will be Presented at Next Years Rental
Participants Meeting
• Nine Months Before the Existing Contract Expires
Robin Carson
Dominion Power Update
Questions and Answers