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Room Demand. Cabarrus County continues to set room demand occupancy records. In calendar 2016 <br />hotel Occupancy was 69.0%. <br />Average Daily Rate. Cabanas County continues to set Average Daily Rate records. In calendar 2016 <br />Average Daily Rate was $104.33. <br />Visitor mix. The strength of Cabarrus County's room demand lies in its ability to have a diverse visitor <br />mix of leisure travelers, corporate travel, and group travel. Each segment represents about 1/3 of the total <br />visitation. Cabarrus County is conveniently located along I-85 and its access to Charlotte makes it <br />attractive to corporate travel. <br />Budget Highlights for the Fiscal Year Ending June 30, 2018 <br />Occupancy Taxes are expected to increase to $5,652,014. This increase is due to an analysis of hotel Occupancy <br />and Average Daily Rates. Room Demand is expected to increase by 3% as 2 new hotel properties, Homewood <br />Suites and Uptown Suites, recently opened. Over the last 2 calendar years 2015-2016 hotel revenue has increased <br />by 7.6% and 10.0% respectively. <br />The Bureau is entering its second year with marketing agency EMA, Eric Mower and Associates. Marketing has <br />budgeted $1,200,000 to work with this new agency to increase overall awareness and expansion of the brand. The <br />Bureau will also be hosting Travel Media Showcase in August 2017. This event will showcase Cabarus County <br />to travel writers and travel influencers from around the country. These journalists will be writing about Cabanas <br />Comity as a travel destination to their audiences over the next fiscal year. <br />Capital Outlay expenses are not budgeted and any fixed assets to be purchased will be voted on and approved by <br />the fill Board to be appropriated through Tourism Capital Reserves. <br />Requests for Information <br />This report is designed to provide an overview of the Bureau's finances for those with an interest in this area. <br />Questions concerning any of the information found in this report or requests for additional information should be <br />directed to the Finance Director, Cabarrus County Convention and Visitors Bureau, 10099 Weddington Rd Ste <br />102, Concord, NC 28027. <br />Page 10 <br />Attachment number 1 In <br />1-2 Page 195 <br />