Compared with some of the multimillion-dollarevents that Albuquerque was bidding on last year, the 300-attendee, three-night meeting was simply ‘medium-sized’ — but Dale Lockett, president and CEO of the Albuquerque Convention & Visitors Bureau, couldn’t have been more excited. This was no ordinary business conference, it was Boyd
Group’s 16th Annual International Aviation Forecast Summit. Airline executives, industry leaders, and the press would be flying in from across the world to discuss the latest economic projections and market data. “It was a small group in terms of room nights and direct
spend,” Lockett said, “but for us as a destination that has been touted as ‘up-and-coming’ to have the leadership of our domestic airlines meet and experience the city firsthand
— I don’t know how you put a value to that. It’s absolutely priceless.” “Priceless” meetings are a difficult concept to communi-
cate during city budget reviews. It may not be possible to quantify the benefits of national press coverage and future business opportunities, but for Lockett, it was important to articulate the total impact of the aviation summit on the city. “That’s the ultimate quest for DMOs: How do we
value what we’re doing?” Lockett said. “It’s becom- ing more challenging and complicated.”
UNSEEN FORCES It’s especially challenging when you realize that while meetings and conventions are big busi- ness — worth more than $260 billion a year, according to the Convention Industry Council’s
46 PCMA CONVENE MAY 2012
Dale Lockett
Value is ‘the ultimate quest for DMOs.’
(CIC) landmark Economic Significance of Meetings to the U.S. Economy study released last year — the value they bring to a destination is more than just monetary. Yes, with the right metrics, a CVB or DMO can show city officials exactly how raising hotel taxes affects sales at the local convention center. Or how a high-profile trade show can generate the equivalent of millions of dollars in advertising for local hotels and attrac- tions with a relatively small direct spend. The possibilities for meeting professionals to activate, lobby, and educate stake- holders are endless, said Gregg Talley, CAE, chief strategy officer for CIC and president and CEO of Talley Management Group, as long as you have the right data. But many events — such as Albuquerque’s aviation sum- mit — have a value that goes beyond direct economic impact, with opportunities that can’t be quantified by any tool. They are, to use Lockett’s word, price- less. Pittsburgh, for example, had a chance to show off its transformation from blue-collar steel capital into a thriving, eco-friendly metropolis when the city hosted the G-20 Summit of world leaders in 2009. The media coverage alone was worth at least $100 million to the city, according to Craig Davis, president and CEO of VisitPittsburgh. “We were able to say, ‘If Pittsburgh is good enough for the leaders of the free world to meet in, then it’s certainly good enough for your meeting,’” Davis said. That strategy worked.