Masterplans Sample Business Plan: Wild Sage Resort

CONFIDENTIAL – Do Not Distribute Without Permission 2 ž MARKET ANALYSIS SUMMARY Few places in the U.S. can be defined as a paradise. With powdery sand beaches that stretch for miles, clear gulf waters lapping its shores, and days filled with endless sun (361 average days of sunshine per year), Clearwater Beach, Florida is continuously on the top of that shortlist. After sorting and tallying millions of reviews on its website, TripAdvisor— theMassachusetts-based travel booking site—ranked Clearwater Beach the top beach in the U.S. on its 2016 list of the 25 best beaches in the U.S. 1 The state of Florida has attracted visitors and tourists for decades, and its appeal is steadily growing. 2018 saw the sixth consecutive record year for tourism in Florida, with visitor rates topping the previous high of 98.5 million (2014) by 6.6%. That surge in statewide annual visitors directly relates to the healthy tourism market in Clearwater Beach and neighboring Clearwater. In 2017, Clearwater/St. Petersburg’s overnight visitor rates increased 2.5% from 6.2 million in 2015 to 6.3 million in 2016. The hotel, motel, and resort industry has capitalized on the surge of overnight visitors to the area. ADR (average daily rate) increased 4.3% and RevPAR (revenue per available room) increased 4.5% from 2016 to 2017, while occupancy increased to 76.4%. 2 Domestic overnight visitors topped 4 million in 2016. Also, in 2016, international visitors traveling from Europe to St. Petersburg/Clearwater surpassed 1.1 million visitors, and 200,000 visited from Latin America. 3 Collective and collaborative initiatives by the visitor and transportation bureaus of Clearwater Beach, St. Petersburg, and Clearwater has contributed to the rise in national and international visitors. Growth in airport passenger traffic and an e x pansion of more direct flights to Tampa International Airport and Hillsborough County Aviation Authority have helped increase national and international overnight visitors to the area. TIA reported the airport recorded a 19% increase in international passengers from 2014 to 2015. Strategic regional marketing campaigns in U.S. cities such as Dallas, Boston, 1 McMorris, Frances. Tampa Bay Business Journal. How Clearwater Beach Helped Break State Tourism Records. February 2016. Source: 2 July 2017 Visitor Profile St. Petersburg Clearwater, Research Data+ Market Research. September 2017. Source: 3 St. Petersburg/Clearwater Area Convention & Visitors Bureau. 2018 Visitors Profile. Source: