Lisa Mailhot | February 13, 2024
Buyers
Newport Beach, renowned for its pristine beaches and luxurious accommodations, is significantly transforming its tourism marketing strategy. Nine prestigious resort hotels advocate for the dissolution of the Tourism Business Improvement District, signaling a pivotal shift in how the city promotes itself as a premier travel destination.
Established after the Great Recession in 2009, the Tourism Business Improvement District was instrumental in funding marketing campaigns to rejuvenate Newport Beach's appeal. Through a modest room rate assessment, resort operators contributed funds, primarily channeled to Visit Newport Beach for targeted promotional activities.
As the agreement governing the tourism district expired, the participating resorts have opted to forge a new path forward. Proposing a Marketing Assessment Partnership, they seek to take control of their marketing initiatives while collaborating with Visit Newport Beach, albeit without direct city involvement.
Gary Sherwin, the driving force behind Visit Newport Beach, highlights the resort's desire to emerge stronger from economic challenges than before. Their decision to reassess and redirect marketing efforts demonstrates a commitment to innovation and adaptability in an ever-evolving tourism landscape.
Under this new arrangement, Newport Beach aims to tailor marketing strategies to cater to the evolving preferences of travelers, particularly those seeking luxury experiences and event spaces. By reallocating resources and increasing the room rate assessment to 5%, the city aims to ensure sustained growth and visibility in the competitive tourism market.
As Newport Beach embarks on this journey of reinvention, the community remains at the heart of its endeavors. The city aims to showcase its unique charm and hospitality to visitors worldwide through collaborative partnerships and strategic investments. If you're considering a move to or within Orange County, let's connect to explore the vibrant lifestyle and real estate opportunities Newport Beach has to offer.
Reference:
New tariffs on Chinese imports are already causing sharp increases in tiny home and ADU prices. In high-cost regions like Orange County, this could significantly impac… Read more
Buyer love letters might tug at heartstrings, but they can also tread dangerous legal ground. Learn the top three ways these letters could violate Fair Housing laws — … Read more
Renters have more power than they think when it comes to repair issues in California. This blog breaks down your rights as a tenant, including when and how you can leg… Read more
The Midwest is on fire—and we’re not talking weather. Home prices in cities like Milwaukee and Detroit are soaring due to tight inventory and high demand. This blog di… Read more
The income gap between renting and owning a home has surged to over $52,000 in 2025. While rent increases have slowed, home prices and mortgage rates remain high, maki… Read more
Inflation cooled in March thanks to falling gas prices, providing a temporary sigh of relief for mortgage markets. While rates aren't dropping just yet, lower pressure… Read more
A new Redfin survey reveals that 1 in 5 homebuyers plan to sell stocks to fund their down payment. As market volatility shakes confidence, homeowners and renters alike… Read more
Despite a strong March jobs report, new tariffs and rising economic uncertainty are casting a shadow over the housing market. Here’s how these national trends could pl… Read more
The National Association of Realtors® just introduced a new companion to its Clear Cooperation Policy: Multiple Listing Options for Sellers. This update offers sellers… Read more
Let's find a time that suits you best to chat about your goals, show you how we work, and figure out how we can help you the most