CVB revenue down 3 percent in 2008

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Despite increasing its marketing budget to more than $1 million for the first time, the Colorado Springs Convention and Visitors Bureau saw a 3 percent drop in lodging taxes for 2008 but still drew millions of dollars to the city, according to the CVB’s annual report released today.

And, if it weren’t for several major events in the city last year, such as the Democratic state caucus, the U.S. Senior Open and the State Games of America, the lodging-tax shortfall would have been even greater, said Experience Colorado Springs at Pikes Peak CEO Terry Sullivan.

The city’s promotion of travel and tourism last year resulted in an estimated direct economic impact of $350 million. The industry generated more than $1.1 billion in travel revenue and more than $19 million in local tax receipts.

“Studies have shown that people generally do not forego vacations in down economies, they take more economical ones,” the report said. “Even with a budget reduced by nearly 20 percent, our marketing and sales activities…continue to generate sales tax revenue for the city, the county and the state.”

Number of visits to the city’s major attractions last year:

Garden of the Gods: 2 million
U.S. Air Force Academy: 630,000
Cheyenne Mountain Zoo: 513,363
North Cheyenne Canon Park: 470,035
Pikes Peak: 254,419
Focus on the Family: 233,982

To view the report, click here

One Response to CVB revenue down 3 percent in 2008

  1. Way to spin it Terry. Basically you pissed away a million dollars with NO RETURN on INVESTMENT! Just HOW MUCH additional Lodging Tax money did your $150K plus given to the Senior Open generate? Lets do mid-July thru mid August for the numbers.

    April 22, 2009 at 5:12 pm