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Hospitality and the SRQ Marketplace

Key demographic and local trends affecting hotels, vacation rentals, restaurants and golf courses in the Suncoast and SRQ marketplace

Florida continues to experience growth across both the general population and the inflow of travelers. Enterprise Florida reported a growth in the state population of around 2.0% in recent years. VisitFlorida reports that travelers into Florida from all global destinations increased 2.5% for 1Q17 compared to the same period the previous year, reaching 31.1 million visitors.

Manatee, Sarasota, and Charlotte counties are no exception to this. ESRI’s analysis showed these counties experiencing a total population growth rate of 7.3%, 6.0%, and 5.0%, respectively, from 2010 to 2016. Further to this point, Metrostudy reports that Sarasota County experienced 23.4% growth in housing starts when comparing 1Q17 to 4Q16. Manatee county experienced a decrease of 0.2% in the same metric.

Other cities within this area also reported meaningful population growth. The Herald-Tribune recently reported that the city of Sarasota experienced 2.5% growth from 2015 to 2016 based upon Census Bureau data, while Bradenton was at 2.3% and North Port at 3.3%. Each of these areas has a different demographic makeup and understanding the local hospitality industry supply, population and demographic data at the county level shows metrics that should be of interest when planning for future marketing activities.

Local Hospitality Industry Supply Levels

County

Hotels Full Service Restaurants Limited Service Restaurants

Golf Clubs

Manatee

130

552 332

43

Sarasota

192

836 479

51

Charlotte

48

290 209

20

Source: Enterprise Florida

However, most of us understand that these numbers are changing and sometimes rapidly. Hotel room inventory in the city of Sarasota will be changing significantly during the next 12 to 18 months. It may also be worth mentioning that while these numbers are close and directional, they are not perfect due to how business types are categorized within the data.

Reviewing the population of the area allows us to compare it to inventory levels for each hospitality segment.

Local Consumer Demographics

County

Population Median Age Households Households 50k +

% Households 50k +

Manatee

346,511

47.0 144,760 70,802

48.9%

Sarasota

402,055

55.1 185,183 93,276

50.4%

Charlotte

167,940

58.0 77,379 34,679

44.8%

Source: Enterprise Florida

Ratios: Population Per Supply

County

Population/ Hotel Population/ Restaurant

Population/
Golf Club

Manatee

2,665

392

8,058

Sarasota

2,094

306

7,883

Charlotte

3,499

337

8,397

While the above table has a reasonable amount of consistency across each county, the data at the city level is much more disparate with significant variations in the ratios from city to city. These calculations lead owners to ask if they are getting a fair share of the population and its extended sphere of influence to visit a specific location. Completing this analysis properly, requires the addition of inbound fly and drive travel activity to be included. Combining these data sources creates a baseline of volume that should be achievable for a given location and promotes a better understanding of the ebbs and flows from which marketing programs may influence revenues.

Wondering how to create a marketing technology platform as unique as your business? Start by sharing some basic information with Accubase about what you want to achieve or simply explore a new area that you feel may be a possibility.

Click to Explore Marketing Technologies

Accubase Simplifies Marketing and Technology Solutions with Acculists

Nokomis FL – Accubase, a marketing technology research and services company, is now introducing Acculists. These customized marketing technology lists offer solution buyers the opportunity to understand the solution provider ecosystem available to them as they consider and build marketing and technology capabilities. Acculists present a well formulated selection of solutions that are specifically relevant to a company’s marketing and technology plans based on thousands of solutions identified within Accubase’s research.

Acculists are designed to inform a potential solution buyer in a value-added, relevancy-driven form. These lists provide a free or paid springboard for any marketing campaign, project or marketing plan whether it’s for your company, a prospect or a client. Acculists may be requested online at http://www.accubase.net/solution-list/. Solutions Providers are able to submit information about their products and services to Accubase for free to ensure inclusion in Accubase’s research database at http://www.accubase.net/add-our-solution/.

Understanding the marketing technology solutions that could support a company’s objectives is a standard facet of launching a marketing initiative. The Acculist service enables companies to quickly find the solutions most relevant within the context of reaching their business and marketing goals. And it goes beyond software to encompass what’s possible given today’s software products, technology solutions, custom development possibilities and services provided by marketing agencies and consulting resources.

As a result of requesting an Acculist, a client will receive a jumpstart to their marketing technology project. “Acculists are the perfect introduction to Accubase’s services as they show the power and depth of the company’s research as displayed in a precisely relevant list,” said Tim Henthorn, CEO of Accubase. Accubase’s services cover the gamut of software, technology, data, agencies and consultants that complement internal teams and bring marketing plans to life.

Acculists are designed to initiate the exploratory efforts at the beginning of a project and create awareness of the solutions that may be able to play a role in the marketing technology infrastructure of a company. Standard uses of Acculists include:

  • For Solution Buyers: Marketers, Agencies and Consultants
    • Understand the range of what’s possible with today’s marketing technologies
    • Review potential solutions in the marketplace for a specific need
    • Identify potential solutions for a group of business requirements
    • Research various components while planning a Marketing Technology roadmap
    • Explore solution combinations while formulating an annual marketing plan
  • For Solution Providers: Software & Technology Suppliers, Agencies and Consultants
    • Recognize prospective strategic partnerships
    • Identify intellectual property licensing opportunities
    • Discern potential M&A possibilities
    • Find participants within a competitive landscape

Accubase covers numerous solution categories that play a role in both marketing programs and technology solutions. Requests to learn more about a category and the relevant solutions within it may be submitted at http://www.accubase.net/solution-list/.

Accubase Introduces Core Services for the Hospitality Industry

Nokomis, FL – May 15, 2017 – Accubase, a marketing technology research and services company, announces the availability of its research, planning and implementation coordination services specifically designed for the hospitality industry. Accubase recently customized its offerings to meet the needs of the hotel, restaurant and golf club management segments of the industry to provide each subscriber a cost effective resource for creating the technology aspects of their marketing initiatives. The compiled research covers thousands of solutions and services to assist teams responsible for both marketing and architecting the necessary marketing technology infrastructure. Accubase’s planning services enable clients to identify marketing and technology solutions to architect a capability plan for a campaign, initiative or as an essential element of a complete marketing plan. Its implementation coordination services guide a business from marketing concept to results.

Accubase understands the roles and value provided by the corporate group, brand, region and individual location and provides services designed to complement each. Understanding the scope and breadth of marketing solutions allows Accubase to formulate Marketing Technology capability roadmaps that provide insights into what’s possible with the resources of the buyer and the innovations from today’s Solution Providers, such as software companies, technology vendors, marketing agencies and consultants.

Today’s solution providers and their products enable time-constrained marketing and IT teams to do more with less and at a faster rate. These solutions number in the thousands, creating a sea of unknowns when embarking upon a new marketing initiative. “When partnering with Accubase, companies are able to generate competitive advantage by architecting the future of their marketing capabilities and then making tactical investments as they navigate their planned roadmap,” said Tim Henthorn, CEO of Accubase. Essentially, Accubase facilitates a company’s ability to identify, design and implement either individual marketing initiatives or comprehensive marketing programs for multiple hospitality industry segments, including:

  • Hotels: Chains, Brands, Ownership Groups, Management Companies, Hotels and Vacation Rentals
  • Restaurants: Restaurant Groups, Management Companies and Restaurants
  • Golf Courses and Clubs: Golf Management Companies, Private Clubs, Semi-Private Clubs and Public Golf Courses

More specifically, Accubase strives to increase marketing capacity and positively influence both the probability and level of success of marketing plans. Accubase is positioned to allow a client, along with its marketing and technology resources, to quickly adapt to the market by regularly invigorating its business with the necessary marketing capabilities required to achieve its planned objectives.