Robert Kitching’s Post

I’m speaking in this panel. If you work in development (or FCDO) and are interested in coaching - let me know what I should be saying!

Here are the highlights the economic impact on Las Vegas for hosting the 2023 Formula 1 race. • The total economic impact has been measured at $1.5 billion, including visitor spending of $884 million. • The race generated $77 million in tax revenue — more than any other event in Las Vegas history. • F1 spent $88 million on public infrastructure improvements (not including land acquisition, etc.). • Race visitors spent 3.6x more than the typical Las Vegas traveller, staying 4.1 nights and spending over $4,100 on average. • Local workers earned $52 million in wages • The event created 7,300 jobs, including 2,200 for race-related construction projects and 5,100 for event operations. • The Las Vegas Airport was the second busiest airport in the country the day after the race, with 2,200 operations. Clark County says it was the largest sporting event, with the largest global audience, in Las Vegas history. Safe to say F1 will be back in Las Vegas for the foreseeable future!

For any Travel marketers out there! Would love you to get involved in TraMP. Message and I will send you an invite to the group. (Please make sure you click on the link in the copy below)

Your premier MINI dealership!!

Here's our new executive summary: WestRing is poised to revolutionize the Bay Area's automotive and family entertainment landscape by introducing a unique, accessible, and family-friendly destination for car enthusiasts and their families. Drawing inspiration from European models and the Nurburgring's consumer approach, WestRing offers an unparalleled experience that combines the thrill of automotive competition with the comfort and amenities of a top-tier family destination. Unique Value Proposition WestRing addresses a significant gap in the current automotive recreation market by providing a safe, legal, and family-oriented venue for car enthusiasts to enjoy their vehicles. Unlike traditional raceways with high barriers to entry, WestRing requires no special equipment or race licensing, making it accessible to a broad audience. Its design caters to both the casual driver looking to experience their car's capabilities and the serious competitor seeking a challenging course. Market Opportunity The Bay Area's vibrant car culture and lack of accessible, family-friendly automotive venues present a significant market opportunity for WestRing. The region's car enthusiasts currently lack a permanent venue to enjoy their passion, relying instead on public roads or distant, expensive race tracks. WestRing's introduction will fulfill this unmet need, attracting a diverse clientele ranging from local families to automotive clubs and event organizers. WestRing's development plan consists of three phases to ensure a scalable growth strategy: 1. **Phase 1:** Construction of a 2-mile single-lane course with state-of-the-art safety features. 2. **Phase 2:** Addition of family-friendly amenities including an events field, cafe, shop, lodge, and restrooms with an upscale aesthetic. 3. **Phase 3:** Expansion to include a covered paddock, garages, and optional fuel and workshop facilities. Revenue Streams WestRing's diverse revenue model includes course lap fees, driving education programs, food and beverage sales, garage facilities, sponsorships, memberships, and reciprocal club memberships. This multi-faceted approach ensures multiple income sources to support operational costs and future expansions. Location and Accessibility Strategically located within one hour of the Bay Area, WestRing offers easy public access while providing a secluded and immersive driving experience. The selection of a 200-acre land parcel ensures ample space for development and future growth. Advisory Board and Local Government Synergy An advisory board comprising experts in auto competition, event management, and construction, along with local government representatives, will guide WestRing's development. This collaborative approach ensures alignment with community interests and leverages local expertise. www.westring.org

Exec summary complete:

Essential guide for anyone wanting to get off the beaten path and explore

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