HomeMy WebLinkAboutSS4 - TBID - PowerPoint - StaffAgenda Item #SS4
November 26, 2013
Tourism - Related Proposals
City Council Study Session - November 26, 2013
Two Items to Consider
Newport Beach Tourism Business Improvement
District (NBTBID)
z. City —Visit Newport Beach Transient Occupancy
Tax Agreement (TOT Agreement)
Both administered byVisit Newport Beach, Inc.
NBTBID Proposal
Current
5 -year term (expires
4/24/14)
Seven members
2% assessment
Proposed
0 -year term (expiring
2024)
Eight members
3% assessment
NBTBID Members
► Fairmont Newport Beach
Hyatt Regency Newport Beach
Newport Dunes Waterfront Resort and Marina
Newport Beach Marriott Bayview
Newport Beach Marriott Hotel & Spa
Radisson Newport Beach
Balboa Bay Club and Resort
The Island Hotel - Proposed
TOT Agreement Proposal
Current
Term expires 6/30/16
18% of TOT to Visit
Newport Beach
Proposed
� Term expires 2024
18% of TOT to Visit
Newport Beach
Two Proposals to Consider
NBTBID
Renew & extend the term
10 years
► Add eighth member -The
Island Hotel
Increase assessment from
2%to3%
TOT Agreement
► Extend the term so that it
expires in 2024