November 2011
Visitation Trends
Economic Indicators
Market Performance Indicators
Forecasts
ORLANDO VISITATION
Visitor Snapshot
Visitor Volumes (millions)
2007
2008
2009
48.745
48.888
46.583
51.455
53.37
3.7%
45.907
45.515
43.319
47.780
49.56
3.7%
Leisure
35.334
35.282
33.992
38.263
39.68
3.7%
Business
10.574
10.233
9.326
9.517
10.26
3.8%
International
2.838
3.343
3.264
3.675
3.82
3.8%
.783
.910
.865
.960
1.00
5.3%
Overseas
2.055
2.433
2.399
2.715
2.80
3.3%
U.K.
.990
.959
.831
.839
0.83
-0.9%
Total
Domestic
Canada
2010 f 2011
11/10
Source: D.K. Shifflet & Associates; Office of Travel & Tourism Industries; Tourism Economics
millions
International
Domestic
50
2.6
40
3.7
2.4
2.7
2.7
2.8
3.3
2.3
3.7
3.3
3.1
30
20
39.8
37.7
2000
2001
40.6
42.7
45.2
2002
2003
2004
46.7
45.1
45.9
45.5
43.3
2005
2006
2007
2008
2009
47.8
10
0
2010
Sources: D.K. Shifflet & Associates, Office of Travel & Tourism Industries
Overnight Leisure
30.0
1.5
1.6
1.7
4.0
3.8
3.5
1.4
3.2
22.8
23.6
22.7
23.6
23.7
22.9
2004
2005
2006
2007
2008
2009
1.7
millions
25.0
20.0
1.6
4.1
1.4
3.6
1.5
1.6
3.5
3.5
1.7
3.6
3.8
1.4
3.2
15.0
10.0
19.0
18.6
20.1
2000
2001
2002
20.6
2003
25.8
5.0
0.0
2010
International Visitors
The United Kingdoms share of international visitors has declined from 35% in
2000 to 25% 2009.
4,000
Other
United Kingdom
Canada
3,500
thousands
3,000
1,761
1,474
2,500
1,394
897
2,000
984
956
1,020
830
1,312
1,000
500
889
1,568
1,065
1,500
1,073
1,876
938
990
959
831
839
1,054
1,060
973
657
693
783
910
865
960
2005
2006
2007
2008
2009
2010
657
595
505
531
631
2000
2001
2002
2003
2004
Sources: Visit Orlando , US Department of Commerce, Office of Travel & Tourism Industries
20%
Overseas Visitors
Share of US arrivals
3.0
15%
millions
2.5
2.0
1.5
11.6% 11.3%
9.8%
9.8%
9.6%
9.3%
9.2%
8.6%
10.3%
9.6% 10.1%
3.01
2.47
1.0
1.87
1.77
1.95
2.02
1.99
2.06
2.43
2.40
10%
2.72
5%
0.5
0.0
0%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Millions
The Office of Travel & Tourism Industries (US Department of Commerce) only
releases destination figures at year-end; monthly data is only available at the
U.S. level.
4
3
3
2
2
2011
2010
2009
2008
1
0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2009
2010
10/09
YTD
Aug 2011
Total Overseas
25,341,451
23,756,184
26,362,616
+11.0%
18,381,944
6.4%
United Kingdom
4,565,000
3,899,167
3,850,864
-1.2%
1,449,128
1.3%
Germany
1,782,000
1,686,825
1,726,193
+2.3%
1,182,967
5.9%
Brazil
769,000
892,611
1,197,866
+34.2%
939,617
27.2%
Colombia
419,000
424,526
494,739
+16.5%
311,234
1.4%
Argentina
318,000
356,428
436,192
+22.4%
341,591
17.0%
Ireland
531,000
411,203
360,492
-12.3%
221,834
-3.5%
11/10
* The Office of Travel & Tourism Industries (US Department of Commerce) only releases yearend destination figures; monthly data is only available at the U.S. level.
Source: US Department of Commerce, Office of Travel & Tourism Industries
ECONOMIC INDICATORS
Labor Market
4.7 million jobs lost in 2009; 8.36 million during 2008 & 2009
combined Approximately 2.6 million lost Jan 2001-June2003
Payroll Change
700
Natl. Unemployment
0.12
300
0.08
October
July
Apr
Jan-11
Oct
Jul
Apr
Jan-10
Oct
Jul
Apr
Jan-09
Oct
Jul
Apr
Jan-08
Oct
Jul
Apr
Jan-07
Oct
Jul
Apr
Jan-06
Oct
Jul
-100
Apr
100
0.06
Unemployment Rate
0.1
Jan-05
500
-300
0.04
-500
0.02
-700
-900
Recession
Mar-Nov 2001
9/11/01
Hurricane Katrina
August 29, 2005
60
40
20
Iraq Invasion
(Mar 03)
Recession
2008/2009
U.S. GDP
$14,000
GDP
Growth Rate
3%
$13,500
2%
$13,000
1%
$12,500
0%
$12,000
-1%
$11,500
-2%
$11,000
-3%
1,900,000
2010
1,700,000
2009
2,100,000
1,500,000
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
200,000
150,000
100,000
50,000
2011
2010
2009
0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Port Canaveral
Cruise Traffic
350,000
300,000
250,000
200,000
150,000
2011 2.4 million (+15.3%) Sep YTD
100,000
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
200,000
2011
2010
912,235 (+17.0%)
2009
779,740 (-21.7%)
Aug
Sep
150,000
100,000
50,000
0
Jan
Feb
Mar
Apr
May
Jun
Jul
Oct
Nov
Dec
Lodging Results
Encouraging growth in demand for hotel rooms through June, partially offset by
inventory growth. Local occupancy rate exceed state and national averages.
2011 Sep YTD
Demand (% change)
Occupancy*
Orange County
Metro Orlando
Florida
National
7.5%
7.8%
7.0%
5.3%
72.6%
6.6%
68.6%
7.1%
64.4%
6.8%
61.6%
4.6%
$100.82
5.2%
$94.37
4.5%
$109.25
4.1%
$101.45
3.6%
RevPAR*
$73.23
12.1%
$64.74
11.9%
$70.36
11.2%
$62.54
8.3%
*Occupancy, ADR & RevPAR from Smith Travel Research does not include Disney-owned hotels
or alternative forms of accommodations such as vacation homes, timeshares, or campgrounds.
Source: Smith Travel Research; Visit Orlando Market Research & Insights
Rooms Sold
2011
%Change
2011
% Change
Miami, FL
Orlando, FL
Los Angeles, CA
New York, NY
Las Vegas, NV *
Anaheim-Santa Ana, CA
Philadelphia, PA
Atlanta, GA
San Diego, CA
Chicago, IL
Boston, MA
Norfolk-Virginia Beach, VA
Washington, DC
Top 25 Markets
9.4%
7.8%
6.9%
6.2%
5.9%
5.2%
4.3%
4.2%
4.2%
3.7%
3.4%
2.3%
1.1%
5.8%
75.9%
68.6%
73.4%
80.4%
85.2%
72.6%
67.3%
61.0%
71.4%
65.0%
72.4%
57.5%
69.2%
67.9%
7.8%
7.1%
6.7%
-0.6%
4.1%
5.0%
3.9%
4.5%
3.9%
3.8%
3.4%
2.8%
-0.2%
4.8%
$151.82
$94.37
$124.09
$231.49
$104.52
$114.22
$113.68
$82.84
$127.64
$115.59
$146.48
$87.71
$144.91
$122.16
4.8%
4.5%
6.2%
6.6%
10.7%
4.7%
5.4%
0.1%
3.4%
4.9%
4.6%
-0.5%
1.2%
4.6%
5.1%
58.8%
4.4%
$90.51
2.8%
Source: Smith Travel Research; Visit Orlando Market Research & Insights
* Las Vegas Convention & Visitors Authority website June YTD
FORECASTS
Economic Forecasts
The fear of a double-dip recession has eased since the previous (2010 Q3)
survey, but the anticipated rate of growth for the US economy has slowed.
Forecasters predict GDP will grow 2.7% in 2010, down slightly from the 2.9% forecasted
in the Q3 survey. Growth rates for 2011 and 2012 were also lowered.
Slower anticipated growth translated into lower expectations for payroll growth, slower
improvement in the unemployment rate, and slightly lower inflation expectations.
2010 Q4 Survey of Professional Forecasters
2007
2008
2009
2010 f
2011 f
2012 f
2.1%
0.4%
-2.4%
2.7%
2.5%
2.9%
Unemployment
4.6%
5.8%
9.3%
9.7%
9.3%
8.7%
Inflation (headline)
2.8%
3.8%
-0.4%
1.0%
1.6%
1.9%
2.3%
2.3%
1.7%
0.8%
1.3%
1.7%
2010 Q4
2011 Q1
Q2
Q3
Q4
11.0%
12.9%
13.6%
13.2%
13.8%
16.8%
16.5%
15.0%
14.9%
n/a
2010
2011
11 vs 10
2012
12 vs 11
Total
51.46
53.37
3.7%
54.34
1.8%
47.78
49.56
3.7%
50.36
1.6%
38.26
39.68
3.7%
40.10
1.1%
Business
9.52
9.88
3.8%
10.26
3.8%
International
3.68
3.82
3.8%
3.98
4.2%
Canada
0.96
1.01
5.3%
1.03
2.3%
Overseas
2.72
2.80
3.3%
2.94
4.9%
.84
.83
-.9%
.85
2.8%
Domestic
Leisure
United Kingdom
Source: D.K. Shifflet & Associates; Office of Travel & Tourism Industries; Tourism Economics
45
40
36.9
38.4
39.7
39.7
41.1
41
29.1
29
42
42.3
40.6
40.6
40.9
27.5
27.6
26.9
26.3
25.4
24.6
Room Night Supply
2008
2009
40.8
35
30
25
26.7
20
24.5
24.9
25.5
2001
2002
2003
2004
2005
70.9%
70.8%
2006
2007
67.7%
67.9%
2010p
2011p
75%
70%
72.6%
65%
63.7%
60%
62.6%
65.8%
62.7%
60.7%
60.6%
62.1%
55%
Metro Orlando Occupancy
50%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010p
2011p
Source: Visit Orlando Market Research & Insights; Smith Travel Research; IHS Global Insight