Page 169 - GrapevineFY24 Adopted Budget
P. 169
FY 2023-24 APPROVED OPERATING BUDGET
CONVENTION AND LEISURE INCENTIVES FUND
215-225-001
2020-21 2021-22 2022-23 2022-23 2023-24
EXPENDITURES BY OBJECT Actual Actual Budget Estimate Approved
Supplies - 225 -
Services 3,630,020 4,511,643 4,503,133 4,088,043 4,980,602
Total 3,630,020 4,511,868 4,503,133 4,088,043 4,980,602
OBJECTIVES
-
To incentivize and promote group convention and leisure business focusing on city-wide conventions, need dates and holiday patterns.
- Utilize international representation companies to increase visitation to Grapevine from international markets.
- Educate meeting planners on the benefits of the 215 incentive program.
2020-21 2021-22 2022-23 2022-23 2023-24
PERFORMANCE INDICATORS Actual Actual Budget Estimate Approved
Number of bookings generated through financial incentives 878 125 115 126 130
Number of room nights booked through financial incentives 131,059 177,803 167,500 180,000 185,000
Economic impact of bookings with financial incentives $77M $140M $100M $124M $135M
Economic impact of social, military, educational, religious and $43M $59M $57M $56M $60M
fraternal meetings booked
Number of total impressions for incentive marketing from 109M 52.7M 80M 82M 115M
print/digital/TV/radio
Number of trade promotional events from international NA NA NA 5 10
representation companies *
* New in FY23
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