Economic Impact

FROM THE VICE CHAIR | JULIANA LAI | BEST WESTERN HERITAGE INN

Hello, my name is Juliana Lai, General Manager at the Best Western Heritage Inn in Concord, also your Vice Chair for Visit Concord. I want to take this opportunity to welcome everyone. As many of the businesses in our community and parks and recreation slowly reopen, Visit Concord has been instrumental, putting together many of the programs such as the Taco Trail, Concord Beer Trail, as well as different restaurant choices and dining options to create a 5-star adventure for all of us. We appreciate your support to our community. In the meantime, please continue to stay safe, follow the federal, state and local guidance in protecting ourselves and our families from COVID-19.

Juliana Lai
Best Western Heritage Inn

ASSESSED BUSINESSES

9 Properties
1,308 Guest Rooms
75,000 sq. ft. of Combined Flexible Meeting Space

CONCORD TRAVEL IMPACTS 2020/2021 (Dean Runyan Associates)

During 2020, the COVID-19 pandemic caused global economic hardship. The travel industry has been especially hard hit, even more so than during the Great Recession. U.S. travel spending declined an estimated 36% in 2020. The California travel industry was even more affected, experiencing an estimated decline of 55% in travel spending.

Travel spending in Concord declined 55.8% from $184 million in 2019 to $81.3 million in 2020.
Direct travel-generated employment experienced a loss of approximately 770 jobs, a 37.6% decline in travel-generated employment.
Direct travel-generated earnings experienced a loss of $29.7 million, a 33.8% decline.
Tax receipts generated by travel spending are down 54.6% compared to 2019.

Concord Travel Impacts 2020	2020	Prior Year Comparison
Hotel Sales Room Revenue	$ 25.6 M	-43.2%
Hotel Room Nights	243,052	-33.8%
Travel Related Spending	$ 81.3 M	-55.8%
Tourism Related Jobs	1,272	-37.6% (loss of 770 jobs)
State & Local Tax Revenue	$ 6.0 M ($3.1M local/$2.8M state)	-55.8%

AVERAGE EXPENDITURES* FOR OVERNIGHT VISITORS, 2020P

	Day (Person)	Trip (Person)	Day (Party)	Trip (Party)	Party Size	Length of Stay (Nights)
Hotel, Motel, STR	$155	$435	$377	$1,058	2.4	2.8
Private Home	$36	$123	$78	$265	2.2	3.4
Other Overnight	$91	$242	$195	$522	2.2	2.7
All Overnight	$97	$296	$222	$680	2.3	3.1

CONTRA COSTA COUNTY TRAVEL IMPACTS 2020 (Dean Runyan Associates)

Contra Costa County Travel Impacts 2020	2020	Prior Year Comparison
Total Direct Spending	$ 672 M	-66.5%
Tourism-Supported Jobs	12,650	-30.6%
State Tax Receipts	$ 43 M ($ 30 M visitors/$ 13 M business or employee)	-61.8%
Local Tax Receipts	$ 31 M ($ 15 M visitor/$ 16 M business or employee)	-53.7%

HOTEL KPI'S - STR REPORT 2020 (JAN-DEC)

STR Reporting (2021 Jan-June)

	Jan - June 2021	Jan - June Prior Year Comparison
Rooms	122,671	0% (booked 122,652 rooms in same time period)
Revenue	$12,464,859	-6.4%

TOT REVENUE

*TOT information provided by City of Concord