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File #: 1352-2018    Version: 1 Name:
Type: Afternoon Administrative Report Status: Agenda Ready
File created: 4/3/2018 In control: CITY COUNCIL OF THE CITY OF NAPA
On agenda: 5/15/2018 Final action:
Title: 2018 Lodging Market Study and Related Economic Impact Analyses
Attachments: 1. ATCH 1 - Lodging Mkt Study Product Categories, 2. ATCH 2 - Draft Lodging Market Study 2018, 3. ATCH 3 - R2008 76 Lodging Policy
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To: Honorable Mayor and Members of City Council

From: Dr. Peter Pirnejad - Assistant City Manager - Development Services

Prepared By: Robin Schabes, Economic Development Manager

TITLE:
Title
2018 Lodging Market Study and Related Economic Impact Analyses

LABEL
RECOMMENDED ACTION:
Recommendation

Receive report and provide direction to staff regarding potential updates to the City's lodging policies to be brought back to a future City Council meeting.

Body
DISCUSSION:
In late 2017, the City of Napa retained Cushman & Wakefield (Cushman) and BAE Urban Economics (BAE) to update the 2007 lodging market study and related economic analyses, respectively. The new study examines changes from the previous study, but primarily provides information on current market trends and projections of demand, supply and economic-oriented effects.

Similar to the 2007 study, Cushman prepared an inventory of existing and proposed facilities; developed definitions of lodging product types; analyzed demand generators; forecasted occupancy, average rates and potential capacity by lodging type; reviewed available meeting and banquet facilities; and identified potential issues and constraints to growth in the hospitality sector. Also, the study includes Cushman's suggested recommendations. BAE was retained to prepare the related projections of economic and fiscal effects as well as to assess labor availability.

This staff report provides a general overview of the study findings. The forecasts reflected in the market study are projected for the next ten years, based on the known pipeline of new rooms (as of December 2017) for years one through six, and the sustainable occupancy for years seven through ten. These projections have been used by BAE in the preparation of estimates regarding economic impacts, fiscal impacts, and labor accessibility.

General Market Trends
* As of January 2018, global lodging industry leaders generally do not express concern about a downtur...

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