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Luxury Niche Markets Attract Dollars and Growth Potential
Mar 29, 2007 FOR IMMEDIATE RELEASE Upscale and luxury niche markets attract dollars, offer growth potential for The Beaches of Fort Myers & Sanibel and Florida As Visit Florida, the state's tourism promotion organization, seeks to increase public funding for tourism to $59 million during the 2007 legislative session, the additional $34.3 million in public funding will enable Visit Florida to enhance its marketing program with stronger promotion of the niche markets that are unique to Florida. Promotion of these markets will attract more dollars from visitors looking for a unique experience in the areas of nature, spas, water sports, luxury inns and resorts, culture and performing arts. In the upscale/luxury niche market, more than 278,200 million visitors brought more than $326,483,289 in direct economic impact to Florida in 2006. This represented 31 percent in growth over 2005. Awilda Rivera, general manager of Casa Ybel Resort on Sanibel Island says these niche markets are extremely important to future business. "As we begin to see the trends shift so dramatically, we can no longer count on the ´vacationer' and need to explore different venues. We have to reach out to new markets such as executive board retreats, incentives, family reunions, destination weddings and honeymoons." Managing a property that is already popular with destination weddings, Rivera would like to see growth in small groups such as executive committee or board of director meetings. This would help to fill in weekday gaps and perhaps the family could join for the weekend. Casa Ybel's marketing efforts include involvement with the Sanibel-Captiva Chamber of Commerce and the Lee County Visitor & Convention Bureau. A marketing firm assists with direction and new creative has been developed for the resort's ads. The resort participates in co-op opportunities that are seen as vital to promoting Sanibel Island as a destination. Hopefully, Visit Florida's increase in budget, if approved, will allow for more affordable advertising opportunities. Rivera says that year-round advertising is needed because vacations are now booked 30 days out. At Lovers Key Resort on Fort Myers Beach, the niche markets are extremely important. Aside from the high traffic winter season (January thru April), the resort looks to the niche markets as a way of filling rooms and creating additional exposure for the resort. They are a great source of repeat business. Once people come for a special event, they come back and refer friends. The typical experience with niche markets indicates that visitors are looking for the value in the experience; not necessarily a discount rate. This market segment allows the property to showcase its services. Competition is high in this segment as properties in the islands of the Caribbean, Las Vegas, New York, Hawaii, as well as the cruise industry, have larger budgets and are attracting the same clientele. Lovers Key has stayed away from print advertising mainly due to cost. If a budget increase allows Visit Florida more affordable opportunities for partnering, the resort hopes to consider this venue. ´Tween Waters Inn on Captiva Island hosts 200 weddings annually and this segment represents almost 20 percent of the resort's total rooms and food and beverage sales. Jeff Shuff, general manager of ´Tween Waters, says the property markets to this niche mainly through its Web site, Internet advertising and some magazine ads. "Our competition is any venue for destination weddings in the states as well as the Caribbean and Mexico. The destination wedding and reunion business is very important to 'Tween Waters Inn and the local market, especially in the off season. Any increase In summary, upscale and luxury niche marketing is vitally important to The Beaches of Fort Myers & Sanibel and additional marketing funding would allow for increased exposure and growth in a market that is good for all of Florida. Nature, spas, sailing and other water activities, quaint inns and upscale resorts are all part of the luxury experience. By the nature of the travel, these visitors bring in more dollars during their visit. This market represents great potential.
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