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HomeMy WebLinkAbout09/29/2025 - Special Agenda Packet - City CouncilOrff CITY OF COLLFGE STATION Horne of Texas A&M University® September 29, 2025 College Station, TX Meeting Agenda City Council - Special Meeting 1101 Texas Ave, College Station, TX 77840 Internet: www.microsoft.com/microsoft-teams/join-a-meeting Meeting ID: 287 987 474 175 I Passcode: gZw5cS Phone: 469-480-7460 I Phone Conference: 168 564 318# 3:00 PM City Hall Council Chambers Notice is hereby given that a quorum of the meeting body will be present in the physical location stated above where citizens may also attend in order to view a member(s) participating by videoconference call as allowed by 551.127, Texas Government Code. The City uses a third - party vendor to host the virtual portion of the meeting; if virtual access is unavailable, meeting access and participation will be in -person only. 1. Call to Order. 2. Special Agenda. 2.1. Presentation, discussion, and possible direction regarding a convention or event center study. Sponsors: Michael Ostrowski Attachments: 1. College Station Convention Center Study 2.2. Presentation and discussion regarding potential opportunities for a multi -event center. Sponsors: Bryan Woods Attachments: None 3. Adjourn. The City Council may adjourn into Executive Session to consider any item listed on the agenda if a matter is raised that is appropriate for Executive Session discussion. Executive Session is closed to the public and will be held in the 1938 Executive Conference Room. The City Council may according to the Texas Open Meetings Act adjourn the Open Meeting during the Consent, Workshop or Regular or Special Agendas and return into Executive Session to seek legal advice from the City Attorney regarding any item on the Workshop, Consent or Regular or Special Agendas under Chapter 551, Texas Government Code. I certify that the above Notice of Meeting was posted on the website and at College Station City Hall, 1101 Texas Avenue, College Station, Texas, on September 23, 2025 at 5:00 p.m. l 2-4_ City Secretary This building is wheelchair accessible. Persons with disabilities who plan to attend this meeting and who may need accommodations, auxiliary aids, or services such as interpreters, readers, or large print are asked to contact the City Secretary's Office at (979) 764-3541, TDD at 1-800-735-2989, or email adaassistance@cstx.gov at least two business days prior to the meeting so that appropriate arrangements can be made. If the City does not receive notification College Station, TX Page 1 Page 1 of 154 City Council - Special Meeting at least two business days prior to the meeting, the City will make a reasonable attempt to provide the necessary accommodations. Penal Code & 30.07. Trespass by License Holder with an Openly Carried Handgun. "Pursuant to Section 30.07, Penal Code (Trespass by License Holder with an Openly Carried Handgun) A Person Licensed under Subchapter H, Chapter 411, Government Code (Handgun Licensing Law), may not enter this Property with a Handgun that is Carried Openly." Codigo Penal & 30.07. Traspasar Portando Armas de Mano al Aire Libre con Licencia. "Conforme a la Seccion 30.07 del codigo penal (traspasar portando armas de mano al aire libre con licencia), personas con licencia bajo del Sub-Capitulo H, Capitulo 411, Codigo de Gobierno (Ley de licencias de arma de mano), no deben entrar a esta propiedad portando arma de mano al aire libre." Page 2 September 29, 2025 Page 2 of 154 September 29, 2025 Item No. 2.1. Next Steps for Convention/Event Center Study Sponsor: Michael Ostrowski, Chief Development Officer Reviewed By CBC: City Council Agenda Caption: Presentation, discussion, and possible direction regarding a convention or event center study. Relationship to Strategic Goals: Diverse & Growing Economy Recommendation(s): For the City Council to provide direction on potential next steps. Summary: In October 2024, the City Council approved a contract with Hunden Strategic Partners to conduct a convention center needs analysis. The study was structured in two phases: Phase I focused on assessing potential market demand for a facility, while Phase II addressed facility design and programming, site evaluation, feasibility, financing options, economic impact, and return on investment. On February 27, 2025, the Council received the Phase I findings and directed staff to proceed with Phase II. Hunden Strategic Partners presented the Phase II report to the City Council on July 24, 2025, and the final report was delivered to the City Council on August 22, 2025, with further discussion to take place at a future meeting. This item provides the City Council with an opportunity to further discuss the study and to offer direction to staff regarding potential next steps. Budget & Financial Summary: N/A Attachments: 1. College Station Convention Center Study Page 3 of 154 hunden partners College Station, Texas Convention Center & Hote Market Demand, Financial Feasibility & Impact Study August 20, 2025 xuauuauuwarIwnnunxwm fit II II I! !f f f 1 Il 11 1! ll If .111 II N. II II ll II fl 111IPH tl fI Il!'ff II 1111 rr flnlf fl lllllf fl i! n� lwn nnn , Who We Are We are the leading global advisor in place strategy —where tourism development, economic development, and real estate development intersect. With professionals in Chicago, New York, Dallas, and Minneapolis, Hunden provides a variety of services for all stages of destination development in: $20B in projects successfully developed and/or in progress 200+ youth sports complex, professional stadium & arena studies >1K studies & processes. Of these, over 80% are for public sector or DMO clients conference, convention, event center & hotel studies 9EL zEL ZLL 86 817 S8 17 stool 6uoueuid/ suo!Pafoad pedwi D!wouoJ] pue 'I PueuH 'pueWaQ (9 u o q.2 n I en] al.! S ›g sl.no/Cei (s seopead 1sa9 ) saipn1s esej (17 s!sAIeud e6e>ped alge'IIeM'8 plop' (E s!s/Cieud GA!1J adWoJ s!s/Cieud I.a 1-ieW luauau!e alu] pug s6U! GIAI 'uoquanuoJ s!siCIeud Ws!Jnol )g J!L1deJ6oweci 'J!WouoD] (Z (1, / J W ua ns anviJax] SWGIUOD Mil r 'iliiijiNiffiui iih Jaf, -1=•••• 1 Ill ¶1 1111H 1114 11111111111111 Executive Summary Page 7 of 154 Introduction hunder partners The City of College Station ("City") engaged Hunden Partners ("Hunden") to complete a market demand, feasibility, and economic impact study for a proposed convention center in College Station, Texas ("Study"). In collaboration with TVS Architecture and Design, the multidisciplinary team ("Team") will assess proposed sites, meeting space demand, and local competition. ASSUMPTIONS AND CONDITIONS: This report has been prepared under the following general assumptions and limiting conditions: The findings presented herein reflect analysis of primary and secondary sources of information assumed to be correct. Hunden utilized sources deemed to be reliable but cannot guarantee accuracy. • Hunden's analysis is based on publicly available information and industry. • No responsibility is taken for changes in market conditions after the date of this report and no obligation is assumed to revise this report to reflect events or conditions occurring thereafter. • Hunden has no control over construction costs or timing of construction and opening. • Macroeconomic events affecting events, travel, and the economy cannot be predicted and may impact the development and performance of the venues, real estate and overall organization. We have enjoyed serving you on this engagement and look forward to providing you with continuing service. Sincerely yours, Hunden Partners 1171WROF Ar 111' li . 1ii� iiiiii iii u! „ull.n i Fl11 I11111 !11 1 i11� Ii!l11 11� 1111111!llFli 1 iicp ;Iii!i 14 Tiiliiilliiill 1 it r_a ! GE la- ,11 tE L. AG p1VIET0 ELAN partners Hunden.com © 24 I! RdofS54 Contents of Study Hunden's scope of work is divided into two phases. Phase One focuses on market demand for a convention center, along with facility and program recommendations. Phase Two includes site evaluations, financing considerations, and detailed demand, financial projections, and economic impact analyses. Phase I Task I. Market Demand Analysis • Economic, Demographic and Tourism Analysis • Convention and Meetings Market Analysis • Hotel and Walkable Package Analysis • Case Studies and Best Practices Task II. Facility and Program Recommendations Phase II Task III. Site Evaluation Task IV. Feasibility Study (Demand and Financial Projections) Task V. Financing Options Task VI. Economic Impact Analysis Task VII. Return on Investment partners Hunden.com © Raa 0f 654 Why We Are Here • College Station loses business without a dedicated convention center • Texas A&M event space is hard to market to outside groups • Rising A&M enrollment limits available space for external events • Texas is in a competitive "space race" for convention facilities • Growing statewide associations seek new venues and rotate often — College Station misses out • Rapid growth justifies investment in economic development • College Station can outcompete Houston on cost and convenience • Local events are outgrowing available venues • A multipurpose facility would recapture lost business (sports, entertainment, conventions, meetings) Potential Opportunity: A multipurpose convention/event center designed to attract external business, including conventions, meetings, niche indoor sports, and live -ticketed entertainment. partners Hunden.com %t efilrUf154 Key Questions & Considerations ■ How does the local and regional supply of meeting facilities, including Texas A&M's, impact the need for a dedicated convention center? ■ What is the state of hotel supply and demand, and how does it affect development recommendations? ■ Is College Station positioned for a convention center? What is the market opportunity for conventions and conferences? ■ What are the key needs of user groups and meeting planners in the region? ■ How strong is the market opportunity for rotating state associations and other event types? ■ What is the demand for additional indoor events, such as sports tournaments and live entertainment? ■ Is additional hotel product needed to support a convention center, and if so, how large and of what scale? ■ Is a convention center supported in College Station? If so, what is the optimal program of the complex? ■ Would the need for a dedicated convention center in College Station change if Texas A&M facilities were readily available to non -university groups? ■ What are the best site options? ■ What are the potential funding sources, and how will the Project perform financially? ■ What economic and community impacts will the Project generate? J_I'. partners Hunden.com I-fL1icQ{il 4 Study Methodology & Project Overview Phase I Phase I Where are you now? How do you stack up? CMOoWhat are the opportunities? How do we get there? Phase II Current College Station & Surrounding Market Assessment Hunden analyzed College Station's current competitive positioning, impact of nearby hotels, walkable amenities, and demand drivers to benchmark the market's appeal as a meetings and events destination. Several user group and meeting planner interviews were conducted to help inform the Project. Market Opportunities Assessment & Future Recommendations Based on local and competitive market research, comparable case studies and stakeholder engagement, Hunden formed recommendations for an optimal development scenario, a convention center and hotel. Site Selection/ Financial & Impact Projections, Funding Analysis In Phase Two, TVS evaluated potential sites and developed layouts for the proposed project. Cost estimates were based on this program. Hunden assessed demand, financial projections, and the project's economic, fiscal, and employment impacts, including tax revenue. hunch partners Hunden.com Igec,1549 Strong Market Position College Station, part of the rapidly growing "Texas Triangle," has seen significant population growth from 2010 to 2024, driven largely by Texas A&M University's expanding enrollment. While growth is expected to slow, it will remain positive through 2029. College Station Population Growth Rates 34% 10% 2010 - 2024 2020 - 2029 Population Growth Population Growth Population Density by County Population per square mile • 1,964.4 to 3,039 • 776.5 to 1,964.3 • 310.8 to 776.4 111.6 to 310.7 0.1 to 111.5 partners Hunden.com CIDAWI4calte Meetings Industry Recovery and Growth Outlook • Demand Growth Accelerating: The meetings sector is expected to achieve a compound annual growth rate (CAGR) of nine percent by 2032 as the demand for in -person meetings accelerates. ■ Industry Confidence Is High: 82 percent of meetings professionals rate their optimism at 8 or above, with 38 percent giving a perfect 10 — mirroring the positive outlook of travel CEOs for the future of events. • Groups Implementing Cost Control Strategies: Companies are adjusting budgets by opting for more cost-effective solutions, such as choosing three -star hotels instead of four -star accommodations. $904 Global MICE Market Size, US$ Billion $971 Meeting Professionals Show Strong Optimism for 2024, With Nearly Two-thirds Rating Their Confidence 8 or Higher Meeting Professionals' Optimism for the Health of the MICE Industry in 2024, Share of Respondents 38% 0°% 2 Very Discouraged 1% 1% 3 4 3% 28% 9% 16% 4% 6 7 8 9 1D Neither Discouraged nor Optimistic Very Optimistic Source: Skift Research State of Travel Report 2024 *MICE: Meetings, Incentives, Conferences, and Exhibitions h .1 fir'. partners Hunden.com cRage c,1'$g Stakeholder Feedback Summary Stakeholder Meetings Associations, Event Planners, User Groups Regional Convention Centers Associations, Event Planners, User Groups ■ Texas Society of Association Executives (TSAE) ■ Meeting Planners International (MPI) ■ Texas Association of School Administrators (TASA) ■ Texas Energy Managers Association (TEMA) ■ Texas Municipal League (TML) ■ Texas Association of Counties (TAC) ■ Texas Agricultural Aviation Association (TAAA) ■ PRA Event Management ■ Freeman Company ■ Various Sports User Groups Local & Regional Stakeholders ■ Visit College Station ■ Hilton College Station ■ Texas A&M ■ Texas A&M Conference Center Hotel ■ Greater Brazos Partnership ■ ASM Global ■ Live Nation ■ Waco Convention Center ■ Plano Convention Center partners Hunden.com 1 v sAlft Stakeholder Feedback Themes The following themes capture the key focus areas from stakeholder discussions and support the formulation of recommendations and study conclusions. Rotating state associations would consider College Station if a new convention center is built. These groups prioritize ample ballroom and breakout space Divisible ballroom space of 25,000 to 55,000 square feet with seating for at least 500 guests is crucial for larger gatherings. Ballroom space is often underserved in regional facilities The facility should be multipurpose, with the ability to accommodate live entertainment and various sports groups An optimal development would include approximately 100,000 to 200,000 square feet of sellable function space and at least 250 hotel rooms Walkable hotels are preferred; however, a connected hotel is most ideal Walkable amenities such as restaurants, bars, and attractions are highly desirable A new facility should feature a 50,000- to 75,000-square-foot exhibit hall for trade shows and conferences. Exhibit space is oftentimes overdone; prioritize ballroom and meeting space Limited airlift poses challenges for corporate events, but College Station's central location and drive-in accessibility appeal to state associations Texas A&M's event facilities prioritize athletics and student groups, which can lead to scheduling challenges and limited reliability for corporate and association events partners Hunden.com 1 CP2agedA1' t Market Findings Headlines Implications Economic, Demographic & Tourism Analysis "Texas Triangle" Location The Texas Triangle is among the fastest -growing economic regions in the United States, encompassing the state's five largest cities and home to 66 percent of Texas's population. By 2030, the area is projected to evolve into a single, giant metropolis. Strong Highway Accessibility & Corporate Presence Located within a three-hour drive of multiple major markets, Brazos County provides access to 53 of Texas's 54 Fortune 500 companies. This proximity to corporate headquarters, combined with key local employers, generates demand for conferences, trainings, and career fairs. Innovation & Economic Growth The presence of Texas A&M University and several key state research and extension agencies establishes Brazos County as a hub for innovation. The university's resources support the growth of new businesses, serving as a pipeline for the local events and meetings business. fli111.1i111 partners Hunden.com 1vI-18sAl't College Station Meetings Market College Station -Bryan offers eight relevant meeting and event spaces with more than 5,000 square feet of function space. The Brazos County Expo is the only facility with exhibit space, while the Hilton Hotel & Conference Center and Texas A&M Hotel & Conference Center are the only meeting venue that features sufficient function space along with a walkable hotel package. Texas A&M meetings facilities are not considered part of the competitive landscape due to their prioritization of university -affiliated events. Facility Legends Event Center Brazos County Expo Center Hilton College Station & Conference Center The Brazos Center Texas A&M Hotel and Conference Center Embassy Suites by Hilton College Station Cavalry Court The George Average Location Bryan, TX Bryan, TX College Station, TX Bryan, TX College Station, TX College Station, TX College Station, TX College Station, TX Facility Type Sports Facility Event Center Conf. Center / Hotel Event Center Conf. Center / Hotel Hotel Hotel Hotel Total Function Space (SF) 70,500 41,600 25,919 20,468 20,365 7,296 6,270 5,236 24,707 TEXAS A&M FACILITIES Kyle Field Memorial Student Center Reed Arena Annenberg Presidential Conference Center College Station, TX College Station, TX College Station, TX College Station, TX Football Stadium Student Center Basketball Arena Conference Center 110,078 38,527 31,552 11,100 Local Meetings Market College Station -Bryan, TX Brazos Expo County Complex 9Legends J j7,@3x47 TEXAS A&M UNIVERSITY Annenberg Conf Conf A&M Reed Brazos Hilton Court( Tke v College Conf Hotel Arena Presidential Center Easterwood Airport Memorial Station Embassy a 'Student Olsen Blue Field Field Olsen Field at Blue Bell Park College Station, TX Ball Park 5,478 Page 19 of 154 Implications Convention Center, Meetings & Entertainment Market Analysis State Association Demand Rotating state associations have shown interest in College Station and would consider the city as a host destination if a new convention center were developed. However, College Station has not fully leveraged this demand, as only 37 association events were reported in the market between 2022 and 2024. Limited Supply College Station lacks high -quality meeting space necessary to attract regional events. Inadequate hotel and meeting space was the most common reason for lost business between 2022 and 2024. Texas A&M University's facilities prioritize university -affiliated organizations and are generally not considered accessible by meeting planners. Flexible Space A new convention center should prioritize ballroom space and breakout rooms to attract local and regional meetings. However, incorporating a versatile exhibit hall would allow the venue to host sports tournaments and entertainment events, further expanding its market reach. L.4. Tr mho :.. fli111.1i111 partners Hunden.com gel- iQcAit/ Competitive Hotel Market Overview Hunden's key takeaways from the competitive hotel set are as follows: • The competitive set has experienced steady growth in both demand and supply since the pandemic, with occupancy and Average Daily Rate (ADR) surpassing 2019 levels • The market has more than doubled in supply since 2016, primarily due to the addition of five properties in 2017 and 2018, though demand has yet to fully absorb this increased inventory • Over the past two years, 229 rooms have been added to the market, including the 160-room upscale Drury Plaza Hotel, which opened in February 2025 h!1_fi 2024 Key Market Indicators (Competitive Set) Development Pipeline (10-Mile Radius) partners Occupancy z)4.1 Current Supply 6,268 Rooms Year 2016 2017 2018 2019 2020 2021 2022 2023 2024 Historical Supply, Demand, Occupancy, ADR, and RevPar for Competitive Hotels College Station. TX I Competitive Set Annual Avg. Available Rooms 939 1,327 1,840 1,985 1,804 1,818 2,062 2,084 2,055 Change 41.2% 38.7% 7.9% -9.1 % 0.8% 13.4% 1.1% -1.4% Room Nights Sold 231,745 285,777 375,102 412,924 230,423 381,109 451,461 458,225 480,768 I CAGR (2016-2024) 14.9% 13.4% Source: Smith Travel Research, Hunden Partners ADR $177.95 Delivered Past 2 Yrs 229 Rooms Change 23.3% 31.3% 10.1% -44.2% 65.4% 18.5% 1.5% 4.9% Occupancy 67.6 59.0 55.9 57.0 35.0 57.4 60.0 60.2 64.1 Change -12.7% -5.4% 2.0% -38.6% 64.1% 4.4% 0.4% 6.4% ADR Change $134.06 - $131.64 -1.8% $134.58 2.2% $130.24 -3.2% $108.79 -16.5% $135.91 24.9% $153.10 12.6% $163.38 6.7% $177.95 8.9% -0.6% 4.1% YOYADR Growth 8.9% Delivered Next 2 Yrs 0 Rooms RevPar Change $90.61 - $77.69 -14.3% $75.17 -3.2% $74.23 -1.3% $38.08 -48.7% $78.07 105.0% $91.84 17.6% $98.41 7.2% $114.04 15.9% 3.2% RevPAR $114.04 Proposed Next 2 Yrs 272 Rooms Hunden.com I cP2agozco,ifil Implications Hotel Market Analysis Supply Growth & Demand Lag The College Station competitive hotel market has expanded significantly over the past decade, with available supply doubling since 2016. As a result, the market has not yet fully absorbed the additional rooms, and occupancy levels remain below 2016 levels. Seasonality Trends As the home of one of the largest universities in the country, College Station's hospitality performance is heavily influenced by Texas A&M University's academic and athletic calendar. Both occupancy and rates peak on weekends during the NCAA football season and the university's graduation ceremonies. Limited Group Business College Station's hotel market offers limited meeting space to attract group business. As a result, occupancy and rates are weakest on weekdays, creating a missed opportunity for the city to capture additional overnight stays and event -driven spending. t� R � .��_3.+.� •'OFF ��;, :.. flillF11111 partners Hunden.com gel-22c144. Implications Case Studies & Best Practices Analysis HQ Hotels Boost Competitiveness Developing an HQ hotel has significantly improved convention centers' ability to attract regional and national events, expanding their market reach beyond local business. Walkability & Activation Drives Success A lack of walkable hotels is a key competitive disadvantage. Adjacent retail, dining, and entertainment enhance destination appeal for meetings and events. Private Management Ensures Smooth Operations While not all successful convention centers are privately operated, leading private firms drive revenue, align with municipal goals, and maximize economic impact. 11411e- -... ..., ___ ..z• _ -. . Trite ... �..� partners Hunden.com gel-213c14126 Recommendations, Layouts and Budgets Project Conclusions Multipurpose Flexibility Is Essential: College Station lacks high -quality, adaptable space for various events. A versatile venue would ensure year-round activity by attracting conventions, conferences, sports, and entertainment events. Strong Hotel Package Drives Convention Demand: A successful convention facility needs a connected, walkable hotel package to attract events that require overnight stays. Suburban Venue Offers Cost -Effective Alternative: A suburban facility provides a more affordable option than large, full -service hotels and offers appropriately sized space for small to mid -sized events. Differentiation Through Walkability and Amenities: The development must stand out from established venues in the region by emphasizing walkability and integrating nearby dining, shopping, and entertainment options. Leveraging Texas A&M Facilities to Boost Demand: Stronger integration with Texas A&M's event facilities could attract association and group business, reducing the need for a fully dedicated convention center. partners Hunden.com 1 gel- 5c1412,2 Recommendations Project Component Quantity Convention Center Exhibit Hall Ballroom (Multipurpose/Exhibit) Junior Ballroom Meeting Rooms Connected Hotel (Upper Upscale) Meeting Space Ballroom Junior Ballroom Meeting Rooms Parking Surface Parking Structured Parking 101,000 SF* 35,000 SF** 30,000 SF 12,000 SF 24,000 SF 400 Keys 30,000 SF 15,000 SF 8,000 SF 7,000 SF 1,000 Spaces 600 Spaces 400 Spaces *Total Convention Center area including both front -of -house and back -of -house space. 212,000 SF I **Ballroom designed for contiguous configuration with exhibit hall, allowing combined exhibit space of up to 65,000 SF when both areas are utilized partners Hunden.com go-adA1� A Comprehensive, Market -Responsive Area Evaluation Hunden and TVS evaluated potential areas for the proposed convention center and hotel using a structured framework. Areas assessed included (ranked in order of scoring*): 1. University Dr. & Texas Ave. 2. University Dr. & College Ave. 3. University Dr. & Tarrow St. 4. Former Macy's building 5. Midtown City Center Each location was analyzed using defined evaluation criteria: 1. Site Configuration ■ Area Score (available land) 2. Neighborhood Characteristics ■ Proximity to existing hotels, Texas A&M, and major airport ■ Walkability and surrounding land uses ■ Access to restaurants, retail, entertainment, and recreation ■ Connectivity to transportation and major roadways *Detailed scoring matrix included in the support material (chapter 5) 3. Site Analysis • Site readiness, constraints, topography, ambiance, and parking • Noise impact and integration potential with the surrounding area 4. Other Factors • Land ownership complexities • City or municipal control of land Key Considerations Market Timed, Not Permanent Hunden's evaluations reflect current market conditions and surrounding development. As the built environment and private development plans evolve, so too can area rankings. The preferred area today may shift in the future. Downtown Advantage - Today Areas adjacent to Texas A&M and active commercial districts are currently best positioned to generate immediate economic impact and induced visitor spending. More rural or undeveloped sites may lack this synergy in the short term. Future Development Potential An area not selected today may rise in priority as infrastructure, private development, and master plans materialize. Hunden's methodology allows for adaptability to these changing dynamics over time. f J !.1 1 1'. Li partners Hunden.com DWI- 17c(4124 Concept Plan - Convention Center & Hotel Concept plans are site agnostic and intended to demonstrate size, layout, and program needs — not specific site selection. Final location to be determined through further analysis and partner coordination. This configuration requires a site of approximately 18 acres. Site acreage can be reduced by converting surface parking to structured parking. GROUND LEVEL - -1 Li V Li J E i 8 8 8 8 0 8 : = 1 0 8 a - 0 n 0 8 e 8 . , 0 —. . • 0 n ,. IDCPANSION o_ o_ o_c, o o amazes HALL A LOADING AREA PA14K11.0 DF-N 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 HOTEL MI LOADING AT" 6011 MEAL 4--4MT LOLinr 00000 000000C LEGEND Ade, in - Elea of HODS. Elea of HoueeCirculatiOn P-1 ertieSZ Hall MI Bait Stair Seneca Eternitor Food Beverage / !Guest Roam meant Club / Loading Dock alenhandal Mewing RooMS I. ; Open to Below 1-7 Planters / Grass - Roche 1 Pooi - Public °Welkin I • Public Circutatlan !Lobby r Pubic ReititiOrti - Pubic Vertizal CanulaClon - Retail Read Padong - Surrounding euldmEis r 1-retrace Pavement - Trees 0' 50100' 200' 500' UPPER LEVEL T VS LEGEND Admin =I Beek Or NOUN = Beck of Flou.se Caeulatart I I Eirhltitt Hall ▪ EXE $tol'I Berme Elevator I I Food Beverage I-1 Goes! Roan Hearin Club r I Lbalmg Gook I= *chancel I Ing Rooms I Open to Below ▪ Plants/ Wan Pad* I I ,MI I I PO01 E St. : 1-1 I I Pottle CirieJlatial IP— BA11011 a I I PatiltarCUletlOn i Lobby — . ---- ET Put,le Reitman I 11 ''''ULI195, E , . Publa Vertical Circulatlen MI Retail 1 1Read Pariong I IF-1*m' ITF = Surrourtarg Be I I Terrace ? Penenleill eFIEFOICTCH = Tram *Alternate viewpoint shown in support material (chapter 5) partners Hunden.com CP2age1-12AcIA Estimated Construction Costs T VS Project Component Quantity Hard Soft Total Convention Center Hotel Parking Contingencies & Escalation Reserves Total 212,000 SF* 400 Keys 30,000 SF Meeting 1,000 Spaces** $212M $144.8M $16.4M $29.9M $403M *Includes sellable space as well as front -of -house and back -of -house spaces I **Parking program includes 400 structured spaces and 600 surface spaces $31.4M $35M $2.7M $33.4M $102.6M $243.4M $179.9M $19.1M $63.3M $505.6M partners Hunden.com 1 gel-219c14126 Demand, Financial and Economic Impact Projections/Financing Tools Financial + Economic Snapshot Operating Deficits Are Offset by Broad Economic Impact Tax Revenues and Visitor Spending = a Net Public Benefit Debt service is typically a City obligation with actual bond amounts offset by funding mechanisms Year 1 Year 5 Year 10 Year 20 Year 30 Revenue Expense NOI (Deficit)** % Margin $5.2m $7m ($1.8m) $8.8m $10.4m ($1.6m) $12m $14.6m ($2.6m) $15.1m $18.6m ($3.5m) -35% -18% -19% -21% -23% Net New Spending* $33.8m $77.7m $84.6m $103.3m $127.9m Nominal dollars - future increases attributed to inflation (3% assumed) * Includes direct, indirect, and induced spending from visitor activity, convention center operations, hotel demand, and broader economic ripple effects **net operating income does not include debt service payments Detailed pro formas for both the convention center development and connected hotel are included in the support material (chapter 6) _fi Lill partners Hunden.com cP2a2Pi- ,l,ca1a'g Economic Impact Summary Hunden Partners estimates net new economic impact by focusing on spending generated by new and returning visitors because of the Project, excluding any replaced or cannibalized local spending. This reflects only the net gain to the City of College Station. $2.8B 30-YEAR ECONOMIC IMPACT SUMMARY TO COLLEGE STATION wi $431 .3M 261 $83.6M Net New Spending Net New Earnings Net New Supported Jobs Net New Tax Revenue Detailed economic impact projections are included in the support matenal (chapter 6) partners Hunden.com 1 CPAPHUSA,1241 30-Year Economic Impact $1.6B Net New Direct Spending $693.5M Net New Indirect Spending $506.1 M Net New Induced Spending $400 M $350 M $300 M $250 M $200 M $150 M $100 M $50 M $O M 1 1 1 30-Year Net New Spending to City of College Station 1 1 2028 2030 2032 2034 2036 2038 2040 2042 2044 2046 2048 2050 2052 2054 2056 ■ Direct Spending Indirect Spending Induced Spending partners Hunden.com cRageH 3skt13e 30-Year Tax Revenue Impact $24.5M City Sales Tax Generation $49.5M City Hotel Tax Generation $9.6M City Property Tax Generation $5M $4M $4M $3M $3M $2M $2M $I M $IM $0M 30-Year Net New Tax Revenues to City of College Station • iiiiiiiiiiiiiiilllllllil 2028 203O 2032 2034 2036 2038 2040 2042 2044 2046 2048 2050 2052 2054 2056 ■ City Sales Tax City Hotel Tax Property Tax partners Hunden.com cP2ageH ,R,131 Texas Financing Tools Municipal Mgmt. Districts (MMD) ...are political subdivisions of the state created to promote, develop, encourage, and maintain employment, commerce, transportation, housing, tourism, recreation, arts, entertainment, economic development, safety, and the public welfare within a defined area. Project Financing Zone (PFZ) PFZs, currently only enabled in Fort Worth, Dallas, and Houston, allow for the capture of incremental State hotel, sales, and mixed - beverage taxes generated in hotels within a 3-mile radius of a major convention or sports/entertainment event center. The incremental state taxes can then be used to fund a project. 380 Agreements ...authorize municipalities to offer incentives to promote economic development such as commercial and retail projects. Specifically, it provides loans and grants for city funds or services at little or no cost to promote state and local economic development. Examples include rebating certain incremental local or other taxes back to a project to incentivize it. College Station is not currently qualified for HB 4347, but discussions about implementation are ongoing: allows recapture of three state taxes within 1,000-foot radius of a qualifying convention center and/or hotel project over ten years. These taxes include State sales, hotel, and mixed -beverage taxes. Can also be used for ancillary/support developments that cater to visitors, such as bars, spaces, retail and restaurants. TIRZ/TIF Districts ... special zones created by City Council to attract new investment in certain areas of a City to stimulate redevelopment. Property taxes attributable to new improvements (incremental taxes) are set aside to finance public improvements within the zone boundaries. HB 2445 HB 2445 mandates that a municipality use revenue from the municipal hotel occupancy tax for the promotion of tourism and the convention and hotel industry. This may apply to the construction and improvement of a convention center facility, as well as tourism advertising dollars. Funding examples are shown in the support material (chapter 6) partners Hunden.com (05,10 re Project Conclusion & Next Steps PROJECT CONCLUSIONS • Bright future for College Station - growth and opportunity for additional development • Strong market demand and economic case established through Phases I & II • Identified opportunity to capture lost business and unlock new economic impact • Potential partnership opportunities with Texas A&M, City of Bryan, Brazos County, and others NEXT STEPS Possible next steps could include initiating a structured planning advisory process, which involves: 1. Determine Potential Partnership Opportunities 2. Identifying a Development Site 3. Design, Budget, Financing, and Governance Establish a comprehensive plan that addresses: Conceptual and architectural design Project budgeting and financial modeling Funding sources and financing strategies 4. Project Development Team Solicitation and Selection partners Hunden.com 1 gel-USk1at Materia WE L G 0 [vi E AGGjEL. gal iu11!!19 11!!?9111111 fUIIi 171 II pj 111111 1: .waremet 1 I-1 1 : 1-1 Ans41014101* iliiijiNiffiui iih Jaf, -1=•••• 1 III ¶1 ItliFutliNVI II H !J!!lliHHUIl Economic, Demographic & Tourism Analysis Page 38 of 154 Population College Station is located in the "Texas Triangle," one of the most economically vibrant and fastest -growing regions in the nation. During the period between 2010 to 2024, this region experienced significant population increases at the city, county, and state levels. The significant growth in College Station is primarily attributed to large increases in student enrollment at Texas A&M University in recent years. While population growth at the city level is projected to slow, it is expected to remain positive through 2029. United States Texas College Station -Bryan, TX MSA Brazos County I College Station Bryan Kurten Wixon Valley Source: U.S. Census Bureau Population and Growth Rates Population 2010 2020 2024 308,745,538 331,449,281 338,440,954 25,145,558 29,145,505 30,857,478 228,660 268,248 283,518 194,851 233,849 247,878 94,228 120,511 126,637 76,410 84,006 89,157 398 395 436 254 228 257 2029 Projected 344,873,411 32,581,174 298,151 261,606 132,359 94,481 476 273 Percent Change 2010-2024 9.6% 22.7% 24.0% 27.2% 34.4% 16.7% 9.5% 1.2% Population Density by County Population per square mile OJ f' Corpus Christi • 1,964.4 • 776.5 • 310.8 111.6 0.1 to 3,039 to 1,964.3 to 776.4 to 310.7 to 111.5 IJ partners Hunden.com cRageHl9cRt1�(tj Population Growth Trend The adjacent map details the projected annual growth rate in Brazos County and the surrounding region from 2024 to 2029, based on block group data. Key takeaways include: • Growth corridors are fairly spread across the county, with the highest projected growth in College Station's Steeplechase neighborhood at 6.6 percent. • Additional areas with notable growth include the western and southern regions of Brazos County. However, the overall projected growth for the county remains minimal. • Texas A&M University reported a record enrollment of 72,560 for fall 2024, a two -percent increase over the previous year. However, the university's 2024 Capacity Study Report recommended pausing undergraduate enrollment growth for five years to address infrastructure and service gaps, shown by the negative projected population growth around the campus. Brazos County; Texas Population Growth Rate by Block Groups 2024-2029 Source: ESRI College Station • 3,92% to 6.59% • 2.09% to 3.91 % • 1.1% to 2_08% 0.19% to 1:09% -1.26% to 0.18% partners Hunden.com CP2ageHlOcikia, Median Household Income The adjacent map shows the median household income throughout Brazos County and the regional area in 2024 by block groups. The following are key takeaways: • Brazos County has an average median household income of $62,900, lower than the State of Texas's average of $77,169. • Downtown College Station reports some of the lowest median household income levels in the county, primarily due to the large undergraduate student population at Texas A&M University. • The most affluent area in the county are the southeast neighborhoods of College Station, with a median household income of up to $200,000. This is likely a result of the presence of highly educated faculty, researchers, and retired alumni returning to the area. Brazos County, Toes Median Household Income (2024) Source: ESRI * College Station ▪ $138,205 ▪ $97,889 ▪ $70,436 $43, 507 $0 to $200,001 to $138,204 to 597,888 to $70,435 to $43,506 partners Hunden.com cP2a2ml ,l,sk,138 Population Density & Median Household Income Map The adjacent map is both a population density and median household income dot map throughout Brazos County and the regional area in 2024. The following are key takeaways: • Texas A&M University's main campus, located in College Station, likely explains the area's high population density and comparatively lower household incomes. • Although the populations in South College Station are not as dense as downtown, residents of these neighborhoods boast high household incomes of more than $100,000. This area often houses affluent individuals, including university employees, researchers, and retired alumni. • The county's population density gets noticeably lower while household income levels increase as it moves further away from Downtown College Station and Bryan. This pattern suggests a higher prevalence of families with children and single-family homes in these areas. Brazos County, Texas Population Density & Median Household Income Source: ESRI 1 Dot = 20 r $138,204 - $200,4 `1 partners Hunden.com 1 2WH42dk 11. Income and Housing The following table provides data on local, regional, and national housing and income characteristics. Compared to the County and State, College Station has lower median household income, homeownership rate, average household size, and median age —characteristics commonly associated with an undergraduate student population. The City has a higher median household value than that of the county and state, which is primarily due to limited land availability and increasing material costs. Income and Housing Data (2024) Category United States Texas Brazos County College Station Median Household Income $79,068 $77,169 $62,900 $54,347 Homeownership Rate 57.9% 56.5% 39.0% 28.9% Median Home Value $355,577 $297,822 $293,429 $318,122 Average Household Size 2.53 2.70 2.48 2.41 Median Age 39.3 36.3 27.0 23.8 Persons Below Poverty Level (2022) 11.1% 13.7% 22.2% 28.6% Employee Population 166,125,745 15,048,852 116,174 57,589 Source: ESRI, U.S. Census Bureau partners Hunden.com 1geHicikt14e Accessibility Highway Access The Project's central position within the "Texas Triangle" offers convenient access to one of the nation's highest concentrations of corporate headquarters, adding to the Project's potential user base. It is accessible via TX-6 and Route 190, which connects to TX-249 as well as Interstates 10, 35, and 45, providing transportation links to Texas's largest metropolitan areas. Air Access The Project is served by Easterwood Regional Airport in College Station, which offers nonstop flights to Dallas/Fort Worth (DFW) through American Airlines. The closest international airports are George Bush Intercontinental Airport (IAH), located 88 miles away, and Austin -Bergstrom International Airport (AUS), 101 miles away. The lack of major airports near the Project may deter some meeting planners and poses a challenge for attracting larger conventions. partners Hunden.com 1 CP2ageH44cal41 Drive -Time Statistics More than 20.3 million people live within three hours of College Station, which captures large metropolitan areas such as Dallas -Fort Worth, Houston, Austin, and San Antonio. Known as the "Texas Triangle," this region encompasses 66 percent of Texas's population and generates 77 percent of its GDP. Over the next 40 years, the area is projected to grow by more than 65 percent. This robust drive-in market creates substantial demand to support the development of a strategically positioned convention center in College Station. Estimated Drive -Time Statistics from College Station (2024) 1-Hour 3-Hour 5-Hour Population 561,352 20,323,158 28,768,138 Households 203,088 7,457,025 10,613,037 Median Household Income $69,790 $78,405 $77,882 Median Home Value $300,992 $317,942 $307,697 Median Age 33.4 36.2 36.7 Source: ESRI Oklahoma F',e?t="'ll`, COLLEa E STATION, TEXAS --D'e-rFilmes and Population Souuce: ESRI Wichitafalla Lubbock FIVE -HOUR DRIVE Mltlla S nAr Coahuila de Zaragoza r.1 Ciudad A `95 Penton FORT1WORDTH ALLAS THREE-HOUR DRIVE AUSTIN SAN:ANTONIO Wnsvilie Oua kiln Natonal Forest STATION Buffalo National River Arkansas Little Pock 0 • E13 Lake [lanes t 0 Monroe�I ,e.rndna Homochll National Fo Loiuv :tic LEGEND THREE-HOUR DRIVE 2024 POP. - 20,323,158 FIVE -HOUR DRIVE 2024 POP. - 28,768,138 partners Hunden.comWH114t Corporate Presence Growing Corporate Presence = More Events • Educational services form the largest industry in the county, employing nearly 17,000 people, with Texas A&M University serving as the city's largest employer, contributing more thaan 5,000 jobs • According to a Lightcast Economy Overview report, jobs in Brazos County grew by 13.8 percent from 2017 to 2022, outpacing the national growth rate by 10 percent • The university provides a steady influx of highly educated workers, supporting business growth and the meetings market • The "Texas Triangle" region is home to 53 of the state's 54 Fortune 500 companies, adding to the potential users of the proposed Project • The county's position in the heart of the "Texas Triangle," combined with its highway accessibility and skilled workforce, continues to attract businesses to the area A�M Brazos County Area Major Employers TEXAS A&M ` BRYAN ISD UNIVERSITY COLLEGE STATION INDEPENDENT SCHOOL DISTRICT (1111 * 1 CITY OF COLLEGE STATION Home of Texas A&Af University' The Good Life, Texas Style.- 11 CITY OF BRYAN CHILDREN FIRST. ALWAYS. Sanderson Farms "1I St. Joseph Health A member of CommonSpirit 11) Reynolds t &ReynoLds.. partners Hunden.com CP2ageHt6c1A14t Colleges & Universities The table below provides data on colleges and universities within 50 miles of the Project ZIP code, based on the latest data from the National Center for Education Statistics. Universities can generate significant economic impact for local municipalities, driving strong visitor impact through events such as graduations and athletic games, and providing a foundation for attracting and retaining young workforce talent upon graduation. Furthermore, this segment often provides inelastic demand for housing. Texas A&M University, the largest and closest institution in the area, is by far the dominant academic and economic driver, offering the highest degree level. Regional Colleges & Universities Institution Texas A&M University Blinn College District Prairie View A&M University Sam Houston State University Total Source: National Center for Education Statistics Distance from Location Site College Station 2.4 miles Brenham 30.9 miles Prairie View 41.0 miles Huntsville 46.1 miles Highest Degree Offered Doctoral Associate's Doctoral Doctoral Enrollment 74,014 17,909 9,056 21,480 122,459 partners Hunden.com 1 cP2aereHt7skt 144 Texas A&M University - College Station College Station is home to Texas A&M University's main campus, which boasts the second-largest student body in the nation. • The Brazos Valley is a global leader in engineering, agriculture, and biomedical innovations due to the presence of the Texas A&M System, Texas A&M University, and several key state research and extension agencies • More than 20 percent of the university's enrollment consists of graduate students • By 2025, the university aims to enroll 25,000 students in its College of Engineering • This area has the highest per capita concentration of material scientists and engineers among all 409 metropolitan statistical areas in the United States • The 2,300-acre RELLIS campus, located in Bryan, Texas, serves as a state-of-the-art hub for research, technology, and workforce development, fostering collaboration between the technology industry, educators, and students 593K+ Texas A& Alumni 72.6K $1.3B #23rd v University Fall 2024 vain Campus Enrollment Generated R&D Expenditures in 2023 Rank in \ational Science Foundation's 2023 Survey partners Hunden.com 12WH%8cal4t Tourism Assets Hunden utilized Placer.ai to assess visitation trends in 2023 for several of College Station's regional attractions. The Texas A&M Aggies are one of the most recognized college football teams in the nation. Both Kyle Field and Reed Arena draw hundreds of thousands of long-distance visitors to College Station each year. The George H. W. Bush Presidential Library and Museum, which also serves as the burial site of the 41 st president of the United States, attracts the highest proportion of long-distance visitors. The archives hold more than 43 million pages of official records and personal papers documenting the president's life and career. Visitation to Regional Attractions January 1, 2023 - December 31, 2023 George H. W. Bush uisen Field at Blue Bell Presidential Library & Museum of the Visitor Origins by Distance from Site Kyle Field Aggie Park Reed Arena Park Museum Bonfire Memorial American GI Locals -Within 25 miles 512,700 385,100 249,900 175,200 33,000 8,400 886 of Total Visits 43% 38% 46% 31% 46% Regional - Over 25 miles & Less Than 100 miles 298,500 245,200 158,200 85,100 28,900 2,500 1,600 of Total Visits 25% 24% 29% 25% 27% 14% 40% Long Distance - Over 100 miles 387,100 375,900 138,500 86,800 45,400 7,400 1,500 of Total Visits 32% 37% 25% 25% 42% 40% 38% Total Visits 1,198,300 1,006,200 546,600 347,100 107,300 18,300 3,986 Source: Placer.ai partners Hunden.com cRefoHt9skt146 Implications Economic, Demographic & Tourism Analysis "Texas Triangle" Location The Texas Triangle is among the fastest -growing economic regions in the United States, encompassing the state's five largest cities and home to 66 percent of Texas's population. By 2030, the area is projected to evolve into a single, giant metropolis. Strong Highway Accessibility & Corporate Presence Located within a three-hour drive of multiple major markets, Brazos County provides access to 53 of Texas's 54 Fortune 500 companies. This proximity to corporate headquarters, combined with key local employers, generates demand for conferences, trainings, and career fairs. Innovation & Economic Growth The presence of Texas A&M University and several key state research and extension agencies establishes Brazos County as a hub for innovation. The university's resources support the growth of new businesses, serving as a pipeline for the local events and meetings business. fli111.1i111 partners Hunden.com 1 tp- 0ca 14, 171 Jgg@ilial II pj 111111 1: .waremet 1! I-1 1 : 1-1 FBI II Ans41014101* iliiijiNiffiui 111 Jaf, -1=•••• 1 III ¶1 ItliFutliNVI II H !J!!lliHHUIl Convention & Meetings Market Analysis Page 51 of 154 Convention Center & Event Venue Industry Trends Meetings Industry Overview The meetings industry has evolved significantly since the pandemic. Meeting planners and user groups are now seeking innovative spaces that offer more flexibility and engagement options. • Traditional large exhibit halls are no longer a necessity. • Ballrooms and breakout rooms are in higher demand than ever. • Outdoor and hybrid spaces have become popular for fostering engagement and comfort. partners Hunden.com fp- da1s'1e Convention Centers Key Takeaways & Lessons Learned Convention centers are vital community assets. While often operating at a loss, they play a crucial role in enhancing quality of life, attracting visitors, and spurring local development. Successful developments require strategic planning, innovative funding, and experienced management. Below are key takeaways and lessons learned for the Project through industry feedback and case study analysis: • Walkable/Connected Hotels: Proximity to walkable or connected hotel accommodations is a critical factor in event and meeting venue selection. • Optimal Programming: A well-balanced mix of meeting space sizes and types, paired with up-to-date AV and tech, maximizes the venue's appeal to diverse groups. • Professional Management: Expert management with experience in multipurpose venues ensures operational efficiency, revenue growth, and alignment with community goals. • Creative Event Programming: Diversify revenue streams by hosting a variety of events, from sporting activities to local community gatherings, beyond typical conferences. • Event Experience & Amenities: Event organizers seek unique, interactive environments with natural light, open spaces, and engaging features. Accessible food & beverage options and entertainment are key to enhancing guests' experience. • Facility Upgrades: Implement a capital improvement plan to support ongoing upgrades and ensure long-term viability. • Economic Catalyst: Convention centers can drive surrounding development and serve as activity hubs, stimulating local economies. partners Hunden.com 12pskt Convention & Meetings Industry Trends Major trends in the ever -changing convention and meetings industry include the increasing need for seamless service, rising costs, demand for flexible meeting spaces, and locations with walkable amenities and headquarters hotels. Convenience and affordability for meeting planners are of critical importance. SEAMLESS EVENT COST TECHNOLOGY SERVICE Events are better facilitated when Rising transportation, catering, and Demand for venues that can the event planning experience is services costs are driving venue accommodate various seamless. selection. technological needs is rising. FLEXIBLE WALKABLE HEADQUARTERS SPACE AMENITIES HOTELS Meeting planners are interested in venues that offer high -quality flexible spaces. Restaurants and attractions nearby make a destination more desirable. Convention centers with headquarters hotels are more attractive to meeting planners. partners Hunden.com 1I-55da1S'12 What it Means Trends in the meetings and events industry indicate important factors in the decision -making process of choosing a meeting or event site. Consideration of these factors will help any proposed conference center development's competitiveness among other local and regional facilities. EVENT EVENT COST SUSTAINABILITY INVESTMENT 7,0/7 Rising transportation, catering, and services costs are driving venue selection. FLEXIBLE SPACE Meeting planners are interested in venues that offer high -quality flexible spaces. CVBs and DMOs can provide financing incentives for convention centers to ensure both parties optimize ROI. EVENT DESIGN Venues should leverage modular design that accommodates engaging, multi -use spaces. To maximize operational efficiency, venues will need to incorporate with sustainable features in mind that reduce long-term expenses. INFRASTRUCTURE INVESTMENT Increased space utilization allows venues to be more flexible and profitable. Vertical expansion is becoming a popular solution. partners Hunden.com cPSWITAc ,1St What it Means cont'd Trends in the meetings and events industry indicate important factors in the decision -making process of choosing a meeting or event site. Consideration of these factors will help any proposed conference center development's competitiveness among other local and regional facilities. SEAMLESS SERVICE Events are better facilitated when the event planning experience is seamless. TECHNOLOGY Demand for venues that can accommodate various technological needs is rising. CONSOLIDATION INCENTIVES Convention centers and DMOs will need to work in conjunction to have fewer points of contact for event planners. DMOs and CVBs should help convention centers offer financial incentives to attract more events. BANDWIDTH ENGAGEMENT Venues should prioritize increasing their bandwidth capabilities to allow for increased connectivity. Venues will need to incorporate collaborative spaces that can accommodate immersive experiences within building design. partners Hunden.com 2MI-57da1Sit What it Means cont'd Trends in the meetings and events industry indicate important factors in the decision -making process of choosing a meeting or event site. Consideration of these factors will help any proposed conference center development's competitiveness among other local and regional facilities. HEADQUARTERS HOTELS Ar dir A PARTNERSHIPS EXPANSION OPPORTUNITIES Convention centers with Convention centers should form Cities should explore opportunities headquarters hotels are more lasting relationships with local to connect existing hotels to attractive to meeting planners. hotels. convention centers or develop a headquarters hotel, if necessary. WALKABLE AMENITIES Air/FA_ Restaurants and attractions nearby make a destination more desirable. CAMPUS STRATEGIC STYLES PLANNING New conference centers should be designed with a campus style in mind to maximize economic impact. Cities can create strategic layouts in collaboration with local retailers to ensure amenities synergize with the conference center. partners Hunden.com cPAMlTAQf 15S Function Space Types The following outlines the three main function space types for convention and event facilities along with their design elements that are often required by event groups. An optimal development in College Station would include a diverse mix of these spaces. Exhibit Hall Exhibit hall space tends to accommodate the largest group sizes and typically hosts conventions, trade shows, and sporting events. These spaces often emphasize simplicity, consisting of concrete flat floors, high ceiling heights, and large open areas that can allow for a variety of event types and setups. Ballroom Space Ballrooms are typically larger than meeting rooms and primarily host banquets, conferences, and smaller conventions. Flexibility of these spaces is a crucial element. Quality ballrooms must offer column -free spaces and moveable walls, patterned carpeting, chandeliers, and an overall sleek and swanky design. Meeting Space Meeting rooms and boardrooms tend to accommodate smaller audiences and are typically used for business meetings or breakout space during conferences. These spaces are often occupied by table setups. Although design standards for meeting spaces are not as high compared to ballrooms, quality is still a valuable component for many groups. partners Hunden.com fp- 9ca1S'1fij Industry Trends: Meeting & Event Planner Survey Implications Pre -Pandemic Level Recovery The tables below highlight the expected recovery timeline for the meetings and events industry and the main reasons that attendee numbers have not yet returned to pre -pandemic levels. Expectations on Return to Pre -Pandemic Attendee Factors Impacting Pre -Pandemic Level Recovery Levels Expectation Percentage Attendee numbers already recovered 35% In 2024 42% Within 2 years 15% Within 3-5 years 5% Not expected to retum to 2019 levels 3% Source: 2024 Global Meetings & Events Forecast • Factor Percentage Attendee health concems 44% Cost 42% Attendee safety concerns 41% Hosting fewer events for people to attend 29% Other 5% Source: 2024 Global Meetings & Events Forecast partners Hunden.com 1 cRev-alsA l5458 Site Selection & Meeting Format The 2024 Global Meetings & Events Forecast was developed through meeting and event data sources, interviews with industry leaders, and proprietary surveys of meeting professionals. Selection of meeting location and planned meeting formats are summarized in the adjacent tables. Location and size are the most influential factors for event planners. Planned Meeting Format Format 2021 2024 In -person only 31% 63% Hybrid 31% 19% Virtual Only 38% 18% Source: 2024 Global Meetings & Events Forecast Site Selection Influencing Factors Factor Percentage Ease of travel to location for attendees 35% Specific location type need (near airport, customer, etc.) 28% Size of meeting space 25% Past experience with site 17% Ability to host hybrid meetings 16% Preferred supplier programs 16% Safety concems 13% Safety and health protocols 12% Sustainability 11% Repeat destination 8% Resort destination 8% Food & beverage service 8% Online reviews 6% Source: 2024 Global Meetings & Events Forecast partners Hunden.com 1ca15459 HOTELS - COST - LOCATION - FACILITIES: What Groups Demand Hotels - rates Overall cost of holding meeting in destination Geographic location Meeting facilities Safety Good past experience with destination Popularity of destination with attendees Destination amenities Airport facilities and lift Food & Beverage Offerings Walkability Client preference Weather Availability of 4 and/or 5 star hotels Incentives Street scene/vibe Service provided by CVB/DMO Relaxing ambiance Ease of working with unions Popularity of destination with exhibitors Contains a convention center Sports venues/sporting event facilities 91.6% 91.2% 91.0% 90.8% 86.6% 80.5% 79.5% 76.3% 73.2% 73.0% I11.9% 68.1% 65.6% 57.0% 54.5% �44.9% 42.8% 42.6% 39.8% 35.4% 16.1% 10.9% O% 20% 40% 60% 80% 100% TOP TWO BOX SCORE Hotels - quality Hotels - rates Overall cost of holding meeting in destination Geographic location Meeting facilities Safety Good past experience with destination Popularity of destination with attendees Destination amenities (restaurants, entertainment, etc.) Airport facilities and lift Food & Beverage Offerings Walkability Client preference Weathe r Availability of 4 and/or 5 star hotels Incentives Street scene/vibe Service provided by CVB?DMO Relaxing ambiance Ease of working with unions Popularity of destination with exhibitors Contains a convention center Sports venues/sporting event facilities Source: Destination Analysts - The CVB and the Future of the Meetings Industry CORP. 3RD PARTY ASSOC. SMERF 95.3% 96.5% 93.0% 93.0% 91.3% 95.1% 95.2% 91.1% 89.7°% 95.1% 95.6% 93.0% 92.1% 95.1°% 91.1% 89.7% 91.7% 95.1°% 91.9% 91.1% 86.6% 89.5% 89.6% 87.8% 82.6% 88.1% 82.2% 81.7% 81.0% 88.1% 83.3% 78.9% 80.6% 83.9% 79.3% 75.1% 77.1% 79.0% 74.4% 70.4% 78.7% 76.2% 74.8% 73.2% 68.0% 69.2% 75.2% 69.0% 78.7% 95.1% 71.9% 75.6% 71.5% 67.1% 67.4% 63.8% 69.2% 69.9% 57.8% 54.5% 59.7% 69.9% 56.7°% 58.2% 46.2% 45.5% 46.3°% 43.2% 40.3% 55.2% 49.3% 50.7% 46.6% 44.8% 43.7% 47.4% 44.3% 53.1% 44.1% 36.6% 39.9% 49.0% 40.4% 39.4% 14.2% 13.3% 17.8% 12.2% 16.6% 12.6% 8.5% 11.7% partners Hunden.com go c fi1546O What Causes Groups to Go Elsewhere Expensive hotel rates Overall cost of hording meeting in destination Availability of meeting facilities Limited airport facilities and lift Distance/geographic location Low popularity of destination with attendees Quality of meeting facilities Client preference Quality of hotels Destination brand perception issues Limited walkability in the destination Poor customer service from hotel sales staff Limited destination amenities Safety Weather Poor past experience with destination Challenges of working with unions Ambiance of the destination Limited availability of 4 and/or 5 star hotels The destination's CVB did not offer incentives Poor customer service from CVB Low popularity cif destination with exhibitors Street scene/vibe Lack of a convention center Limited services provided by CVB NONE OF THE ABOVE 42.1% 40.5% 38. 0% 32.4% 30.7% 29.0% 28.4% 25.5% 24.3% 23.2% 21.8% 20.1% 19.7% 19.7% 15.4% 15.1% 13.3% llllllil 8.5% i• 8.1% 7.7% 7.3% 4.4% ■ 3.9% ■ 2.1% ■ 61.4% 56.6% 0% 20% 40% 60% 80% Expensive hotel rates Overall cost of holding meeting in destination Availability of meeting facilities Limited airport facilities and lift Distance/geographic location Low popularity of destination with attendees Quality of meeting facilities Client preference Quality of hotels Destination brand perception issues Limited waikability in the destination Poor customer service from hotel sales staff Limited destination amenities (restaurants, entertainment, etc.) Safety Poor past experience with destination Weather Challenges of working with unions 4mbiance of the destination did not fit the meeting Limited availability of 4 and/or 5 star hotels The destination's CVB did not offer incentives Poor customer service from Convention & Visitors Bureau Low popularity of destination with exhibitors Street scene/vibe Lack of a convention center Limited services provided by Convention & Visitors Bureau CORP. 3RD PARTY ASSOC. SMERF 54.796 64.3% 68.496 66.296 51.696 58.096 62.9% 58.3% 37.996 39.2% 42.3% 40.7% 42.696 43.4% 40.8% 40.3% 34.496 35.7% 39.396 35.296 33.296 42.0% 37.1% 37.5% 29.396 31.5% 33.1% 37.096 36.796 53.1% 31.3% 34.796 33.696 32.9% 28.7% 29.6% 26.296 37.1% 30.9% 27.8% 18.096 21.0% 27.696 27.396 25.496 27.3% 27.2% 29.296 21.196 21.0% 22.4% 24.196 20.796 21.7% 23.296 20.896 22.796 26.6% 22.8% 25.9% 23.0% 27.3% 23.2% 21.896 18.096 18.9% 15.4% 12.096 16.496 16.196 16.5% 13.496 18.096 17.5% 14.0% 13.096 7.0% 12.6% 11.4% 11.196 7.8% 7.796 8.5% 8.8% 7.4% 9.1% 10.3% 7.9% 6.696 4.996 9.6% 4.6% 2.7% 3.5% 5.196 3.2% 4.396 4.2% 5.596 5.1% lpartners Source: Destination Analysts - The CVB and the Future of the Meetings Industry Hunden.com Igol,c#,15461 Complementary District Offerings Many of the top districts create a density of retail, restaurant, entertainment, multifamily, office, and hotel offerings adjacent to major demand inducing assets such as arenas, stadiums or event centers in order to create a critical mass of people 24/7. The top entertainment districts across the country infuse a variety of elements that synergize together to draw in both locals and visitors. This is executed in many ways. Many times, a "hero and halo" effect occurs, where there is a central demand driver such as a convention or event center and then surrounding supportive uses that facilitate 24/7 activity. The best districts implement the following: • Recreational biking and fitness trails running near the development and connect a loop path to it, linking the ample lushly landscaped public green spaces, nooks, playground, and festival plazas • Vehicular through -streets that allow cars to drive through the development for better visibility and access, just as a village "main street" is a commuting crossroads • Street grid extends outward to other community uses, particularly residential neighborhoods and existing street network for a seamless walkable and urban transition • All -year programmed events catering to all age groups create a true community civic space, often in a central green space and inside food hall buildings during colder seasons • Wide shady sidewalks and various levels of pedestrian platforms and bridges create unique restaurant seating areas, allowing for vertical visual variety and scenic vistas It will be important to position complementary development adjacent or walkable to the Project site to maximize the destination appeal to groups and meeting planners. partners Hunden.com II-Oda154fi2 Industry Trends: Headquarters (HQ) Hotel Tiered Convention Markets Meeting planners often refer to the meetings market as a tier one, two, or three destination. Tiers are often descriptions rather than designations, which are subject to perception. Although meetings destinations do not have a concrete rating system such as hotels have, each tier has distinct attributes and advantages. Tiers do not denote quality or size. The following descriptions were sourced from the MINT database. First Tier Destination First -tier destinations may be the easiest to define and are typically the biggest convention cities in the country such as Las Vegas, Orlando, Chicago, etc. Key characteristics that these destinations have in common include an airport with ample nonstop and international access, hotel inventory with a minimum of 10,000 committable sleeping rooms, convention centers with a minimum of 500,000 gross square feet of exhibit space, distinctive leisure -travel appeal, and abundant dining, entertainment, and attraction options for attendees. These places are typically major metropolitan hubs with strong travel infrastructure. Second Tier Destination A destination is often categorized as a second -tier destination simply because of its size and affordability perception. Second -tier cities include Austin, Baltimore, Tampa, Charlotte, Columbus, etc. Key attributes include convention facilities with less than 500,000 gross square feet, airlift with nonstop domestic options, attractizn of a regional drive market, adjacent or connected hotel rooms, variety of entertainment options, and sufficient dining establishments. K��e �iSrmA 4m a ,i Third Tier Destination The key is to not consider a third -tier destination as being third-class, because this tier is really based on the size of the city and its convention offerings, not quality or even cost. Examples of third -tier cities include Atlantic City, Reno, Milwaukee, Portland, Cleveland, Louisville, Raleigh, etc. Measurable attributes include a regional airport with less nonstop or direct airlift, function space less than 350,000 gross square feet, and distinctive leisure travel appeal. Often, third -tier destinations are the choice for incentive travel and find themselves competing for the business along with first- and second -tier destinations. hunden Hunden.com G 2025 Hunden b4 HQ Hotel Trends In the past, in order to service a convention, meeting planners were typically expected to contract with multiple hotels, pay for their own transportation, and seek additional event and meeting locations. In recent years, however, cities have begun to offer room packages within a few large hotels adjacent to convention centers. This improvement in packaging the convention product led to expectations by the market and competitive pressure for all convention facilities to offer a convenient package of hotels attached, adjacent or within immediate walking distance of the convention facility. This eliminates the need for shuttle service in most cases and often the hotels provide enough meeting and event spaces for the planners' additional needs. HQ hotels that do not offer such a package suffer considerably when competing for meetings, conferences, conventions, and other events. HQ hotels that offer the best packages, such as those in Indianapolis, San Diego, Charlotte, and San Antonio, have shown excellent convention center performance. partners Hunden.com 1 cP2avcaA$ Why HQ Hotels Are Needed Headquarters hotels, located near major convention centers, have become essential for successful convention and meeting destinations. Key reasons they are critical include: CONVENIENCE Planners and attendees prefer connected hotels for easy access between meetings and hotel rooms. Destinations lacking this lose business to those with it. partners LARGE ROOM BLOCKS High room counts ensure enough space for attendees, preventing the loss of large events to cities with larger hotels. EVENT FLEXIBILITY HQ hotels offer additional function space for group events or simultaneous activities. FULL -SERVICE AMENITIES To generate business outside of convention days, these hotels typically offer ballrooms, meeting rooms, dining, and leisure amenities like spas and fitness centers. Hunden.com PI-a9ca166 Overall Market Lift of HQ Hotel Development • Hunden assessed over 12 convention markets for the impact of surrounding hotels when a new headquarters convention hotel was built • Data shows that a HQ hotel benefits both Primary and Secondary hotels, with even stronger gains for Secondary properties due to market compression Conclusion: A connected or adjacent convention hotel is essential to maximizing the venue's success and citywide economic impact. Performance of Primary & Secondary Hotel Sets 10 Years Before & After Introduction of Convention HQ Hotel ADR - Average Annual Growth Rate Primary Set Secondary Set Performance Performance Before HQ Hotel After HQ Hotel 1.3% 1.3% 3.5% 4.6% 10 Yea r Cumulative Diff 22.4% 32.9% • ccupancy - Average Annual Growth Rate Primary Set Secondary Set Performance Performance Before HQ Hotel After HQ Hotel 0.6% 0.2% 1.4% 1.6% 10 Yea r Cumulative Diff 8.0% 14.1% RevPar - Average Annual Growth Rate Primary Set Secondary Set Performance Performance Before HQ Hotel After HQ Hotel 1 .9% 1 .5% 5.1% 6.5% 10 Yea r Cumulative Diff 31.8% 49.9% Total Revenue - Average Annual Growth Rate Primary Set Secondary Set Performance Before HQ Hotel 5.1 % 7.0% Performance After HQ Hotel 9.0% 9.7% 10 Yea r Cumulative Diff 39.0% 27.5% partners Source: Smith Travel Research, Hunden Partners Hunden.com 1 fohN g-16, P3 Hotel Trends The following table details some of the major public -private partnership (P3) headquarters hotel developments that have occurred across the country in primarily tier one and tier two cities. The following key headlines were determined: • Over the past decade, headquarters hotel development has increased across the country and become more costly. • On average, over the past decade, the public sector has covered approximately 41 percent of the total development cost of headquarters hotel development. • On a per room basis, total development cost over the past decade was approximately $416,000. With recent accelerated inflation, costs per key have surpassed $500,000 and in many markets are more than $600,000 per key. • Average development cost over the past decade was $305 million. • Municipalities utilize creative financing tools to mitigate the high development cost. Public•Private Hotel Developments Public-.ector* Total Hotel Investment Costs Cost/Room (millions) City State Brand Opening Rooms (millions) (000s) Minneapolis MN Hilton 1992 816 $145 $177 $892 Norfolk VA Marriott 1992 405 $60 $148 $23 0 Philadelphia PA Mamott 1995 1,408 $237 $168 $36.5 Atlantic City NJ Sheraton 1997 502 $85 $169 $382 Philadelphia PA Loews 1998 350 $54 $154 $18 0 Denver CO Adam's Mark 1998 1,230 $135 $110 $25.0 Tampa FL Mamott 1998 716 $105 $146 $27 0 Wichita KS Hyatt 1998 303 $42 $140 $20 1 Miami Beach FL Loews 1998 800 $110 $138 $29.0 Franklin TN Marriott 1999 300 $30 $100 $12 0 Madison WI Hilton 2000 222 $29 $131 $10.0 Baltimore MD Mamott 2001 750 $133 $177 $10.0 Chattanooga TN Chattanoogan 2001 202 $43 $213 $20 0 Indianapolis IN Mamott 2001 615 $100 $163 $23.0 Charlotte NC Westin 2003 700 $143 $204 $16.0 Louisville KY Marriott 2005 617 $111 $180 $575 Boston MA Westin 2007 793 $200 $252 $15.0 San Antonio TX Hyatt 2008 1,003 $280 $279 $208.0 Lancaster PA Marriott 2009 294 $45 $153 $20 0 Fort Worth TX Omni 2009 600 $160 $267 $89.0 Fort Wayne IN Courtyard by Mamott 2010 250 $47 $188 $12 0 Indianapolis IN JW Mamott, Courtyard, Springhill Suites 2011 1,568 $354 $226 $48 5 Nashville TN Omni 2013 800 $272 $340 $128.0 Washington DC Mamott 2013 1,167 $639 $548 $3080 Austin TX JW Marriott 2015 1,012 $303 $299 $3 0 Evansville IN Doubletree 2015 253 $44 $174 $20.0 Louisville KY Omni 2016 612 $289 $472 $1390 Houston TX Marriott 2016 1,000 $335 $335 N/A Austin TX Fairmont 2018 1,048 $370 $353 TBD living TX Mamott 2018 350 $113 $323 $550 Portland OR Hyatt 2019 600 $224 $373 $74 0 Austin TX Mamott 2020 613 $275 $449 TBD Kansas City MO Loews 2020 800 $325 $406 $265 0 0klahoma City OK Omni 2021 605 $241 $398 $85 4 Salt Lake City UT Hyatt Regency 2022 700 $377 $539 N/A Fort Worth TX Omni (Expansion) 2026 400 $217 $543 $53 0 Indianapolis IN Hilton Signia 2026 800 $550 $688 N/A Average - - 2008 681 $195 $274 $61.8 Average, Last 10 Years 2019 717 $305 $416 $119.7 Total - - - 25,204 $7,221 - $1,924.4 * Public participation may be upfront capital only, or could include value of abatements and other incentives over time Source Hunden Strategic Partners Percentage of Total Cost 61 6% 383% 15.4% 44 9°% 333% 18.5% 25 8"% 473% 26.4% 40 0°% 34.5% 7.5% 46 5% 23.0% 11.2% 51 8% 7.5% 74.3% 44 4% 55.6% 25 5% 137% 47.1% 482% 1 0% 45.5% 481 % N/A TBD 487% 330% TBD 81 5% 35 4% N/A 24 4% N/A 31.7% 41.3% Private Sector Investment (millions) $55 6 $37 0 $200.0 $46 8 $36 0 $110.0 $77 5 $22 3 $81.0 $18 0 $19.0 $123.0 $23 0 $77.0 $127.0 $53 5 $185.0 $72.0 $25 0 $71.0 $35 0 $305 5 $144.0 $331 0 $300 0 $24.0 $150 0 N/A TBD $58 0 $150 0 TBD $60 0 $155 6 N/A $164 0 N/A $104.3 $153.7 $3,336.8 Percentage of Total Cost 384% 61 7% 84.6% 551 "% 66 7% 81.5% 74 2% 52 7% 73.6% 60 0% 65.5% 92.5% 53 5% 77.0% 88.8% 48 2% 92.5% 25.7% 556% 44.4% 74 5% 86 3% 52.9% 51 8% 99 0% 54.5% 51 9% N/A TBD 51 3% 67 0% TBD 18 5% 64 6% N/A 75 6"% N/A 68.3% 58.7% partners Hunden.com cRageHTlic ,1a't Publicly -Funded Hotels The adjacent table shows tax-exempt bond financing of headquarters hotels across the country, some of which were entirely financed and thereby owned by the public sector. The following key headlines were identified: • In many situations the public sector owns the headquarters hotel entirely and finances the project completely with tax-exempt bonds. • This has been demonstrated in Houston with the Hilton Hotel, as well as in Dallas with the Omni, a hotel that was developed in 2012. Tax -Exempt Financing with Bonds Supported by Project Revenues Public Bond Issue Cost/Room City State Brand Opening Rooms (millions) (000s) Indianapolis IN Signia 2026 800 $625.0 $781 Atlanta GA Signia 2024 976 $450.0 $461 Columbus OH Hilton (468-key Expansion) 2022 1,000 $210.0 $449 Chicago IL Marriott 2016 1,200 $400.0 $333 Cleveland OH Hilton 2016 600 $272.0 $453 Chicago IL Hyatt Expansion 2013 451 $180.0 $399 Columbus OH Hilton 2012 532 $178.0 $335 Dallas TX Omni 2012 1,001 $479.2 $479 Fort Lauderdale FL Hilton 2011 1,000 $415.0 $415 Omaha NE Hilton (Expansion) 2011 150 $37.0 $247 Baltimore MD Hilton 2008 757 $305.0 $403 Ede PA Sheraton 2008 200 $45.4 $227 Phoenix AZ Sheraton 2008 1,000 $346.1 $346 Columbia SC Hilton 2006 300 $67.0 $223 Coralville IA Marriott 2006 286 $33.0 $115 Denver CO Hyatt 2005 1,100 $394.8 $359 Providence* RI Hilton 2005 392 $78.4 $200 Vancouver WA Hilton 2005 226 $47.5 $210 Austin TX Hilton 2004 800 $280.1 $350 Bay City MI Doubletree 2004 150 $32.9 $219 Houston TX Hilton 2004 1,200 $326.2 $272 Omaha NE Hilton 2004 450 $112.0 $249 St. Louis MO Renaissance Suites 2003 1,081 $276.6 $256 Chesapeake NY Hyatt 2002 400 $193.0 $483 Overland Park KS Sheraton 2002 412 $105.7 $257 Trenton NJ Marriott 2002 197 $58.0 $294 Myrtle Beach SC Radisson 2001 404 $76.5 $189 Sacramento CA Sheraton 2000 503 $104.9 $209 Chicago IL Hyatt 1998 800 $108.0 $135 Providence* RI Westin 1995 364 $70.0 $192 Average - 2008 624 $210 $318 * Estimated Cost Source: Hunden Partners h fir partners Hunden.com cP2agel-12cR,164 Proposed HQ Hotels In order to remain competitive in this market, the following markets in different parts of the country have proposed to either add or expand their respective convention center headquarters hotel based on market realities: • Tulsa, Oklahoma - Cox Business Convention Center • Cincinnati, Ohio - Duke Energy Convention Center • Corpus Christi, Texas - American Bank Center partners Hunden.com 1 geHT3cfgit'e College Station Meetings Market Summary Lost Business The figure to the right outlines the reasons College Station lost business from 2022 to 2024. • Of the 131 total lost events, 62 were due to facility gaps, unavailable dates, and other space -related reasons • Lost events ranged from large conventions to youth sports tournaments • Room night and economic impact calculations shown are based solely on the 62 events lost due to space constraints Room Nights 62 Lost 124.8K Events Lost $13.2M Economic Impact 2022-2024 Lost Business Report - Reasons Location 12% Meeting Cancelled 12% Rates 6% Other** 24% Inadequate Space 16% Unavailable Dates 12% **other: Reasons include date changes, health concerns, and alternative locations due to external circumstances **N/A: reasons include board/committee/member vote partners Source: Visit College Station Hunden.com 1 CP2agequ5c1417,2 Booked Business - Events & Event Days The tables to the right outline the number of events and event days sourced by Visit College Station at various local facilities from 2022 to 2024. On average, Visit College Station sourced 146 events annually during this period, with stagnant growth across the studied time period. Sports accounted for the highest share of booked events (32 percent), followed by conventions (30 percent). Event days increased at an average annual rate of 24 percent. Conventions generated the largest share of event days (31 percent), followed by sports (28 percent). College Station Booked Events College Station Booked Events Days Event Type 2022 2023 2024 Event Type 2022 2023 2024 Banquet 0 2 4 Banquet 0 4 5 City Wide 3 5 3 City Wide 10 19 10 Convention 40 39 51 Convention 150 150 186 Event/Festival 1 1 1 Event/Festival 2 2 2 Meeting 11 25 35 Meeting 44 86 136 Other 4 3 3 Other 15 10 10 Reunion 0 3 2 Reunion 0 8 9 Seminar 8 15 18 Seminar 24 40 95 Sport 56 49 34 Sport 169 173 104 Student 2 7 12 Student 9 30 68 Trade Show 0 1 0 Trade Show 0 3 0 Total 125 150 163 Total 423 525 625 Source: Visit College Station Source: Visit College Station partners Hunden.com CPAN ca1lt Booked Business - Attendance The tables below summarize attendance metrics based on the previously presented event data. In 2024, College Station hosted approximately 122,166 attendees, reflecting a 20-percent decrease from 2022 and a 6-percent year -over -year decline. Sports accounted for the largest share of total attendees (68 percent), while festivals events had the highest attendance per event, underscoring their potential impact on market visitation if bookings increased. Sports and conventions generated the highest estimated visitation based on event days, contributing 67 percent and 11 percent of the total, respectively. College Station Total Attendance Per Event College Station Average Attendance Per Event College Station Estimated Visitation (Based on Event Days) Event Type 2022 2023 2024 Event Type 2022 2023 2024 Event Type 2022 2023 2024 Banquet - 450 570 Banquet - 225 143 Banquet - 900 713 City Wide 12,900 12,700 8,600 City Wide 4,300 2,540 2,867 City Wide 43,000 48,260 28,667 Convention 12,715 12,779 14,406 Convention 318 328 282 Convention 47,681 49,150 52,540 Event/Festival 6,700 6,700 6,700 Event/Festival 6,700 6,700 6,700 Event/Festival 13,400 13,400 13,400 Meeting 2,076 12,463 13,216 Meeting 189 499 378 Meeting 8,304 42,873 51,354 Other 402 126 1,410 Other 101 42 470 Other 1,508 420 4,700 Reunion - 180 550 Reunion - 60 275 Reunion - 480 2,475 Seminar 965 1,311 1,097 Seminar 121 87 61 Seminar 2,895 3,496 5,790 Sport 115,904 82,674 75,316 Sport 2,070 1,687 2,215 Sport 349,782 291,890 230,378 Student 100 340 301 Student 50 49 25 Student 450 1,457 1,706 Trade Show - 35 - Trade Show - 35 - Trade Show - 105 - Total 151,762 129,758 122,166 Average 1,214 865 749 Total 467,019 452,431 391,721 "-" denotes unavailable data "-" denotes unavailable data "-" denotes unavailable data Source: Visit College Station Source: Visit College Station Source: Visit College Station _l l r partners Hunden.com CPANHUca1l4 Booked Business - Room Nights The table to the right summarizes room night generation for events hosted in the College Station market. The Hilton College Station & Conference Center and the Texas A&M Hotel and Conference Center contracted the highest number of room nights, contributing 26 percent and 24 percent of the total, respectively. The remaining events used other properties, likely due to the insufficient room block at these two properties. Sports accounted for the largest share of total room nights (49 percent), followed by conventions (27 percent). In 2024, total room nights reached 46,184, reflecting a decrease from the past two years. College Station Room Nights Contracted Event Type 2022 2023 2024 Banquet — 100 180 City Wide 4,657 4,877 3,125 Convention 13,554 13,220 15,676 Event/Festival 400 240 20 Meeting 2,644 3,447 6,131 Other 399 199 360 Reunion — 60 447 Seminar 1,540 1,901 3,816 Sport 37,044 22,953 15,171 Student 140 873 1,258 Trade Show — 20 — Total 60,378 47,890 46,184 "—" denotes unavailable data Source: Visit College Station partners Hunden.com 1 CP2agequ8c14VS Meetings College Station Meetings Market College Station -Bryan offers eight relevant meeting and event spaces with more than 5,000 square feet of function space. The Brazos County Expo is the only facility with exhibit space, while the Hilton Hotel & Conference Center and Texas A&M Hotel and Conference Center are the only meeting venue that features sufficient function space along with a walkable hotel package. Texas A&M meeting facilities are not considered part of the competitive landscape due to their prioritization of university -affiliated events. Facility Legends Event Center Brazos County Expo Complex* Hilton College Station & Conference Center The Brazos Center Texas A&M Hotel and Conference Center Embassy Suites by Hilton College Station Cavalry Court The George Averag e TEXAS A&M FACILITIES Local Environment - Meetings and Conference Spaces (sorted by total function space) Location Bryan, TX Bryan, TX College Station, TX Bryan, TX College Station, TX College Station, TX College Station, TX College Station, TX Facility Type Sports Facility Event Center Conf. Center / Hotel Event Center Conf. Center / Hotel Hotel Hotel Hotel Total Function Space 70,500 41,600 25,919 20,468 20,365 7,296 6,270 5,236 24,707 Exhibit Ballroom Largest Meeting Space Space Ballroom Space - 65,000 65,000 5,500 28,000 13,600 13,600 - - 18,935 11,360 6,984 - 12,320 7,920 8,148 - 8,205 8,205 12,160 2,964 2,964 4,332 - - - 6,270 - - - 5,236 28,000 20,171 18,175 6,947 Meeting Rooms 5 7 6 17 5 4 2 7 Walkable Hotels Largest Walkable Hotel 4 301 1 112 1 247 6 176 2 162 2 162 3 193 Total Walkable Hotel Rooms 624 112 247 631 303 303 370 Average Rooms per Walkable Hotel 156 112 247 105 152 152 154 Kyle Field Memorial Student Center Reed Arena* Annenberg Presidential Conference Center Olsen Field at Blue Bell Park College Station, TX College Station, TX College Station, TX College Station, TX College Station, TX Football Stadium Student Center Basketball Arena Conference Center Ball Park 87,913 38,527 30,600 11,100 5,478 17,507 20,144 12,700 17,507 15,824 6,500 70,406 8 18,383 27 17,900 7 11,100 4 5,478 1 1 247 247 247 1 247 247 247 * Total function space does not include arena Source: Various Facilities, Smith Travel Research 1Jl.J1J partners Hunden.com cP2a2re dda17/ Competitive Regional Texas Meetings Market (50K- 200K SF) The State of Texas offers a wide range of convention and conference facilities and ranks third in the nation for prime exhibit space. The following list outlines mid -sized meeting facilities with 50,000 to 200,000 square feet of function space in suburban - urban markets. These facilities primarily target local corporate business and rotating state associations. Facility Loews Arlington Hotel & Convention Center Lone Star Convention Center & Expo Center American Bank Center Convention Center Richard M. Borchard Regional Fairgrounds El Paso / Judson F. Williams Convention Center Moody Gardens Hotel, Spa and Convention Center McAllen Convention Center Irving Convention Center at Las Colinas Amarillo Civic Center Waco Convention Center Galveston Island Convention Center at The San Luis Resort Kalahari Resorts & Conventions -Austin Lubbock Memorial Civic Center Marriott Dallas Allen Hotel & Convention Center The Woodlands Waterway Marriott Hotel & Convention Center Hampton Inn & Suites Dallas -Mesquite Wichita Falls Multi -Purpose Events Center Ford Arena Embassy Suites Frisco Hotel & Convention Center Hilton DFW Lakes Executive Conference Center The Woodlands Resort & Conference Center Average Source Various Facilities, Smith Travel Research Location Arlington Conroe Corpus Christi Robstown El Paso Galveston McAllen Irving Amarillo Waco Galveston Round Rock, TX Lubbock Allen The Woodlands Mesquite Wichita Falls Beaumont Frisco Grapevine The Woodlands Regional Competitive Environment - Convention Centers (sorted by total function space) Facility Type Conv. Center/ Hotel Convention Center Conv. Center Fairgrounds Convention Center Conv. Center/ Hotel Convention Center Convention Center Civic Center Convention Center Convention Center Resort Civic Center Conv. Center/ Hotel Conv. Center/ Hotel Conv. Center/ Hotel Event Center Arena Conf. Center/ Hotel Conf. Center/ Hotel Conf. Center/ Resort Total Function Space 191,504 141,700 135,588 102,651 94,900 92,945 87,272 85,459 82,178 80,309 69,800 71,796 67,334 66,600 66,532 57,738 57,270 56,332 60,338 53,558 52,679 84,499 Exhibit Ballroom Largest Meeting Space Space Ballroom Space 43,269 98,887 51,224 49,348 111,000 22,300 22,300 8,400 76,500 43,790 25,366 15,298 80,000 20,000 20,000 2,651 80,000 - - 14,900 52,780 15,180 15,180 24,985 61,482 10,659 10,659 15,131 48,576 26,104 19,264 10,779 61,333 20,845 20,845 47,976 13,818 13,818 18,515 43,100 15,000 15,000 11,700 - 61,936 40,040 9,860 40,000 14,105 14,105 13,229 40,000 12,000 12,000 14,600 37,180 22,050 18,000 7,302 35,250 18,000 18,000 4,488 38,088 - - 19,182 48,600 - - 7,732 - 42,154 42,154 18,184 - 23,780 14,400 29,778 - 26,690 13,430 25,989 52,507 24,157 18,371 15,336 Number of Adjacent/ Meeting Connected Rooms Hotels 44 2 7 14 4 5 22 1 12 12 13 1 11 6 1 14 15 1 14 1 9 1 10 8 27 1 31 1 23 1 14 1 Adjacent/ Connected Walkable Hotel Rooms Hotels 1,188 4 433 - 5 - 3 1 195 4 4 975 - - 3 300 1 348 1 160 2 1 330 7 397 5 402 - 473 3 Largest Total Walkable Walkable Hotel Hotel Rooms 351 832 150 628 350 629 226 226 153 518 242 725 293 571 150 150 302 302 96 169 200 200 303 1,072 329 803 242 Average Rooms per Walkable Hotel 208 126 210 226 130 181 190 150 302 85 200 153 161 525 179 Hotel Rooms/ 1,000 SF of Exhibit Space 27.5 8.2 14.9 11.3 17.5 9.3 14.8 �1 partners Hunden.com cP2a2reFfg0,178 Texas A&M University Meeting Facilities Texas A&M University offers several of Brazos County's largest and highest -quality meeting facilities with extensive amenities. However, these venues are not considered part of the local competitive meeting supply due to their prioritization of student organizations. Meeting planners have reported challenges in working with the university, citing last-minute scheduling changes to accommodate university needs. Texas A&M University's facilities include the following: • Kyle Field • Memorial Student Center • Reed Arena • Annenberg Presidential Conference Center • Olsen Field at Blue Bell Park • Texas A&M Hotel and Conference Center ■ Unlike other university -affiliated facilities, the Texas A&M Hotel and Conference Center operates as a for -profit commercial venture and is included in the competitive supply i i! 1. 1 1 1 1 1• 1 1! . .. --- �' ' '11 1 1 1 1 • 1• 1 1 1 !II 1 I - III_s n 1.,TI Uhl it partners Hunden.com CP2a2M42ca1 l Texas A&M University Meeting Facilities cont. In 2013, a 30-year Preferred Access Agreement was signed between Brazos County, Texas A&M University, College Station's CVB, and the City of College Station to secure preferred access to Texas A&M University facilities for promoting tourism and supporting the convention and hotel industry in Brazos County. • As part of this, the CVB would receive preferred rates to facilitate group programming at university facilities. • $36 million in hotel tax funding was allocated to Texas A&M University for facility access, with $22 million contributed by Brazos County and an estimated $14 million from the City of College Station. All parties acknowledged that these funds would support the renovation of Kyle Field. • Despite this agreement, third -party users remain a low priority for many of the university's facilities. Stakeholders have reaffirmed this, citing challenges in securing event space due to scheduling conflicts with university organizations. H L1I if] partners Annenberg Presidential Conference Center's Order of Priority (example): 1. George Bush Presidential Library Foundation 2. Bush School of Government and Public Service (including Institutes) 3. George H.W. Bush Presidential Library and Museum and Education Department 4. Texas A&M University -recognized academic departments as predetermined by the Office of the Provost 5. Recognized student organizations of Texas A&M 6. Agencies within the Texas A&M University System 7. Affiliated Texas A&M organizations (e.g., the Association of Former Students, Texas A&M Development Foundation, and Texas A&M Research Foundation). 8. Non -university affiliates (approved by the director) This order of priority is provided solely for illustrative purposes and may not reflect the actual hierarchy outlined in specific agreements or booking guidelines of other facilities. Hunden.com go-Wcave Texas A&M Meeting Facilities Cont. Kyle Field Total Function Space: 87,913 SF Home to the Texas A&M Aggies, Kyle Field is one of the largest college football stadiums in the nation. In addition to accommodating more than 100,000 fans, the facility can host events ranging from a 10-person business meeting to a 1,000- person gala. Its largest space, the Ford Hall of Champions, offers more than 32,000 square feet of function space. The stadium features eight distinct meeting spaces, not including multiple reception areas. Memorial Student Center Total Function Space: 38,527 SF The Memorial Student Center (MSC) serves as both a gathering place for students and a memorial honoring Aggies who lost their lives in the World Wars. Additionally, the MSC offers a variety of rentable event spaces for small meetings, large conferences, and celebratory events. These include the 15,800-square-foot Bethancourt Grand Ballroom, which can accommodate up to 1,700 guests, as well as 27 other meeting rooms. Reed Arena 1i u ram • .4(11- Total Function Space: 30,600 SF Reed Arena serves as the home court for Texas A&M's men's and women's basketball teams. The 12,989-seat arena offers 30,600 square feet of function space, excluding its flexible 24,800-square-foot arena floor where graduations are held. The venue includes two newly renovated ballrooms and seven meeting rooms. Hunden.com C 2% ge 84 of 154 Texas A&M Meeting Facilities Cont. Texas A&M Hotel and Conference Center Total Function Space: 20,453 SF The Texas A&M Hotel and Conference Center provides accommodations for current and former students, their parents, wedding celebrations, meetings and conferences, and visitors conducting business with the university. The conference center features an 8,200- square-foot ballroom, along with 21 boardrooms and meeting rooms. The facility offers state-of-the-art technology and in-house catering. Annenberg Presidential Conference Center Total Function Space: 11,100 SF The Annenberg Presidential Conference Center is part of the George Bush Presidential Library Complex, which houses the George H.W. Bush Presidential Library and Museum. The conference center features more than 11,000 square feet of banquet space, along with two large auditoriums used for distinguished lectures, panels, performances, graduations, and award ceremonies. Olsen Field at Blue Bell Park To al Function Space: 5,478 SF Olsen Field at Blue Bell Park is home to the Texas A&M baseball program. The facility features the premier Cox Diamond Club, a 5,478-square-foot event space with a full - service bar and diverse catering options. On non -game days, this space can be rented for wedding receptions, corporate events, banquets, luncheons, seminars, and other special occasions. Hunden.com C 2% ge85o Texas A&M Hotel and Conference Center Location: College Station, TX Opened: 2018 Cost: $134 million Hotel Rooms: 247 Function Space: 20,453 SF Operator: Benchmark Pyramid The Texas A&M Hotel and Conference Center is located in the heart of Texas A&M's historic campus, across from Kyle Field and the Memorial Student Center (MSC). Developed through a public -private partnership (P3), the property is the only luxury hospitality offering in the market. The 250,000-square-foot hotel features nearly 250 rooms and more than 20,000 square feet of function space. It provides accommodations for current and former students, their families, wedding celebrations, meetings and conferences, and visitors conducting business with the university. Olsen Field at Blue,Bell Park partners Hunden.comFda1� Texas A&M Hotel and Conference Center - Visitation (2024) Key Takeaways • Most of the venue's long-distance visitors are within driving distance, likely due to limited national air access • Long-distance visitors primarily attend the venue on weekends, reflecting strong demand for transient travel, likely driven by the university's home football games ■ The majority of visits to the hotel and conference center originate within 25 miles, suggesting high usage of the meeting space by university -affiliated groups 2024 Visitation by Household Origin Texas A&M Hotel & Conference Center (College Station, TX) - Total Visitation January 1, 2024 - December 31, 2024 Total Visits Total Unique Customers Visitor Origins by Distance from Site Est. Number Percent of Est. Number Percent of Avg. Visits (Colors correspond to charts & maps) of Visits Total Visits of Customers Total Customers per Customer Locals - Within 25 miles 358,627 40.9% 85,675 28.3% 4.19 Regional & Long Distance - Over 25 miles and Less Than 100 miles 194,816 22.2% 88,699 29.3% 2.20 Long Distance only -Over 100 miles 324,068 36.9% 128,554 42.4% 2.52 Total Visits 877,511 100.0% 302,928 100.0% 2.90 Source: Placer.ai 100K 80K 60K 40K 2K 0 Visitation by Day of Week I� 111 Li 111 Monday Tuesday Wednesday Thursday Friday Saturday Sunday hunden partners Hunden.com cPagreFuda1a4 Hilton College Station & Conference Center - Visitation (2024) Key Takeaways: • Most of the venue's long-distance visitors are within driving distance, likely due to limited national air access • Long-distance visitors primarily visit the hotel on weekends, reflecting strong demand for transient travel, likely driven by the Texas A&M football schedule and regional tournaments • The majority of visits to the Hotel and Conference Center arrive from the Texas A&M campus, reflecting the significant usage by both students and employees of the university �V AI11II14 H�e.a karroi . 2024 Visitation by Household Origin • 1415515ln.• ^.1. talilPo N+ra Aria 1. Dll1 S]A NA x, Hilton College Station & Conference Center (College Station, TX) - Total Visitation January 1, 2024 - December 31, 2024 Total Visits Total Unique Customers Visitor Origins by Distance from Site Est. Number Percent of Est. Number Percent of Avg. Visits (Colors correspond to charts & maps) of Visits Total Visits of Customers Total Customers per Customer Locals - Within 25 miles 72,997 22.0% 30,878 25.5% 2.36 Regional Distance -Over 25 miles and Less Than 100miles 75,006 22.7% 30,505 25.2% 2.46 Long Distance only -Over 100+ miles 183,081 55.3% 59,563 49.2% 3.07 Total Visits 331,084 100.0% 120,946 100.0% 2.74 Source. Placer.ai 50K 40K 20K 5 20K 10K 0 ■■ Monday Visitation by Day of Week 1.1 1 1 III �I .II Tuesday Wednesday Fnday Saturday Sunday fir partners Hunden.com cRaizre480,las Regional Development Pipeline The Board of Directors of the East Montgomery County Improvement District (EMCID) has announced plans for a proposed 210,000-square-foot convention center in the Valley Ranch Town Center's Entertainment District in New Caney. New Caney is located approximately 90 miles southeast of College Station in the Houston metropolitan area. The facility will feature a 55,000-square-foot exhibit/banquet hall, close to 20,000 square feet of breakout meeting space, pre -function areas, and back -of -house facilities, along with an 813-space parking structure. The site is designed to enhance the area's retail, dining, and entertainment offerings, catering to both residents and the business community. Due to its proximity to downtown Houston, the project aims to position itself as a premier destination for corporate events, trade shows, local and regional youth sporting events, consumer shows, galas, wedding receptions, graduations, proms, and other private events. partners Hunden.com cP2a fpF-,9ca15486 Meeting Planner Takeaways Hunden interviewed more than 20 meeting planners, state associations, convention center general managers, and other relevant stakeholders to gain insights into programming best practices and successful business strategies for mid -size convention center developments. The following key implications were drawn: ■ Event Space Requirements: Event organizers increasingly require a minimum 500-seat ballroom for larger gatherings, along with multiple breakout rooms for educational and association -focused events. Trade shows and conferences typically need 50,000 to 75,000 square feet of exhibit space and 25,000 to 55,000 square feet of ballroom space. All meeting types have a high demand for fast, complimentary Wi-Fi (minimum 10GB) and on -site AV/tech support. ■ Hotel and Lodging Needs: Meeting planners prefer one to two main hotels to consolidate attendees, with peak room night demand typically ranging from 250 to 450 rooms. While connected hotels are preferred for convenience, walkable hotels are acceptable for some events. Many respondents emphasized the importance of hotel -based meeting spaces with additional capacity for sessions and breakout rooms. Additionally, many events require tiered room options, ranging from executive suites to more budget -friendly accommodations. ■ Location Considerations: While not a deal -breaker, walkable amenities such as restaurants, bars, and attractions are highly desirable, as attendees often seek opportunities to explore the destination during downtime. Accessibility needs vary by group, with some attendees willing to drive, while others require strong airlift infrastructure to justify the location. ■ College Station's Future: Many stakeholders view College Station as a promising market, but its existing infrastructure — particularly convention space and hotel capacity — requires expansion. A new, larger convention center and with a connected hotel would significantly enhance the city's attractiveness as a meetings and events destination. ■ Texas A&M Meetings Facilities: While College Station offers several upscale meeting and event venues through Texas A&M University, these facilities are largely unavailable for third -party use. In the case of corporate or association utilization, last- minute scheduling changes have sometimes occurred, and working directly with university facility planners has posed various challenges. Texas A&M prioritizes athletics in its group scheduling, making it difficult for outside organizations to plan events, especially when requiring long-term advance bookings. partners Hunden.com I WI-W1 ,15487 Meeting Planner Takeaways Cont. State Associations • Associations tend to be more flexible with hotel requirements and may have attendees share rooms. • Association -focused events typically require four to six breakout rooms per session. • College Station's central location in Texas and easy drive-in access make it an attractive option for mid- sized events and regional associations. • Cost-effectiveness and flexibility are key priorities for associations, favoring mid -sized venues with strong on -site AV support and ample breakout room options. • Exhibit space is considered an add -on to users; exhibit space is often overdone, and meeting rooms and ballrooms tend to be underserved. Corporate Business • Corporate meeting planners prefer 80- to 100-percent single -occupancy rooms, with tiered options ranging from executive suites to budget -friendly accommodations. • A persistent challenge for corporate groups is College Station's limited airlift. The lack of direct flights and convenient airport access remains a significant barrier to attracting corporate events. • Corporate events — particularly in the pharmaceutical, medical, tech, and financial industries — require larger, tech -equipped venues with extensive meeting spaces. partners Hunden.com 1 cP2agPM,ca15488 Additional Uses: Entertainment/Sports Market Analysis Live Entertainment Industry Trends $17B Music Events' projected revenue in 2024 9.4% Increase in ticket pricing since 2023 14.9% Decrease in average tickets sold since 2023 8.7% Increase in total gross revenue for top 100 global tours Progress Slowing Post -pandemic progress is slowing down. Major industry names are taking risks by inflating ticket prices and testing fans' spending limits. Reports show empty seats and lower turnouts, and music festivals that once sold out in minutes are now struggling to do so this season. Social media andstreaming have Social media streaming have made it easier to discover artists, boosting demand for live music. Platforms like TikTok, Facebook Watch, and IGTV allow entertainers to connect with audiences and offer fans new ways to experience live events. Social Media Marketing 110 New Technology Immersive experiences are becoming more common, with the Las Vegas Sphere setting a new standard to differentiate live events from at-home entertainment. Concerts are using advanced technology to create enhanced visual experiences for audiences. Exclusive Events While large-scale festivals remain popular, demand is increasing for smaller concerts that offer a personal, immersive experience, allowing attendees to connect with artists on a deeper level. Artists recognize the value of these performances and are incorporating them into tour schedules. Source: Statista, Live Nation, Variety partners Hunden.com I F-wcal5490 Regional Entertainment Market Overview Pol!star compiled data between January 2022 and December 2022 to publish their Concert Market Rankings report. College Station is uniquely located between major concert markets. While difficult to attract headlining shows, College Station can serve as a midway point between the major markets and host mid -sized acts within a new event facility. • The Dallas -Fort Worth market ranked 8th overall in 2022 with a reported $206.8 million in ticket sales (2.25 million tickets sold). • The Houston market ranked 15th overall in reported gross dollars of ticket sales. Over the period, there was a reported $138.2 million in ticket sales (1.37 million tickets sold). • The Austin market ranked 22nd overall in 2022 with a reported $91.5 million in ticket sales (785,333 tickets sold) A conversation with Live Nation highlighted College Station's potential role in the regional routing landscape, particularly from Houston. A multipurpose facility with a 2,000- to 5,000- capacity could attract college -targeted acts. The region's entertainment and concert market is expanding rapidly. partners Hunden.com2MIica14q College Station Entertainment Venues: Local Market Overview Hunden identified relevant and competitive entertainment venues with the potential to host ticketed events. College Station -Bryan has a limited supply of high -quality entertainment venues capable of hosting large events or concerts outside of Texas A&M University's facilities. Historically, Kyle Field and Reed Arena have attracted major acts. From Elvis to George Strait, these venues serve as a tour stop for artists performing in other major Texas markets. Notably, Rudder Auditorium, a smaller entertainment facility, does not currently route regular entertainment acts that could drive interest from Texas A&M students. A gap exists in the entertainment market for a well -programmed, mid -sized facility that can drive acts targeting students. Venue Kyle Field Reed Arena Wolf Pen Creek Amphitheater Rudder Auditorium Central Baptist Church Stage 12 The Tap Grand Stafford Theater Palace Theater Average Concert Capacity 110,905 13,000 7,500 2,500 1,400 600 600 400 400 15,256 Local Music & Entertainment Venue Supply Venue Type Stadium Arena Auditorium/Theater Auditorium/Theater Auditorium/Theater Live Music Venue Club Auditorium/Theater Auditorium/Theater Source: Pollstar Some venues do not report all events. True event data may be skewed or underestimated. Location College Station, TX College Station, TX College Station, TX College Station, TX College Station, TX College Station, TX College Station, TX Bryan, TX Bryan, TX Estimated 2024 Events 1 0 1 2 0 3 0 1 Average Average Average Ticket Attendance Occupancy % Price 110,905 4,161 738 1,758 1,697 498 281 100% $231.65 63% $30.79 82% $29.46 68% $40.11 61% $25.98 84% $16.78 75% $12.68 17,148 76% $55.35 partners Hunden.com CP2a2E045ca1gt George Strait Concert Texas A&M University's Kyle Field On June 15, 2024, George Strait and Texas A&M University made American music history by breaking the record for the largest U.S. ticketed show. The event drew 110,905 fans to Kyle Field, attracting visitors from across the state and country, with nearly 45 percent traveling more than 100 miles. According to a June 2024 economic impact report, gross ticket sales for the concert totaled $27.8 million, while net revenue exceeded $33 million. Additionally, in June alone, College Station recorded $221.7 million in taxable sales, $1 1 million in mixed beverage sales, and $6.7 million in hotel revenues. 2024 Visitation by Household Origin .&vitro George Strait Concert (College Station, TX) - Total Visitation Saturday, June 15, 2024 Total Visits Total Unique Visitors Visitor Origins by Distance from Stadium Est. Number Percent of Est. Number Percent of Avg. Visits (Colors correspond to charts & maps) of Visits Total Visits of Visitors Total Visitors per Customer Locals -Within 25 miles 24,838 15.0% 25,217 15.3% 0.98 Regional Distance • Over 25 miles & Less Than 100 miles 66,485 40.2% 65,988 39.9% 1.01 Long Distance-Over100+miles 73,984 44.8% 74,061 44.8% 1.00 Total Visits 165,307 100.0% 165,266 100.0% 1.00 Source: Placer.ai hif l r partners Hunden.com2PI-Nda14t Legends Event Center Location: Bryan, TX Owner/Operator: City of Bryan/Sports Facilities Companies Opened/Cost: 2022/$41 million Sports Features: • Eight basketball courts/16 indoor volleyball courts/four outdoor sand volleyball courts • Turf field for special programming and training Notes: Legends Event Center is a 122,000-square-foot facility. It includes eight basketball courts, which can be converted into 16 volleyball courts, four outdoor sand volleyball courts, a 5,500-square-foot banquet room, concessions, a kitchen for catering companies, and a turf area for special events. Additionally, there is a gaming arena and an e-sports lounge. The complex hosts a variety of local and regional sports tournaments, leagues, camps, clinics, practices, trade shows, markets, and other special events. Legends Event Center has become an anchor for Bryan, drawing visitors from all over the U.S. who generate local sales tax as they stay, eat, and shop in local stores. The center is a part of a larger master plan to improve Bryan's economic vitality, serving the community not only through local sports availability, but also through significant economic impact. Hunden interviewed management and discovered that Texas A&M utilizes the facility often for special events such as banquets and galas, which contributed approximately 15 percent of their overall business. J1l f partners Legends Event Center - Visitation (2024) Key Takeaways • Most of the venue's long-distance visitors are within driving distance, likely due to limited national air access • Long-distance visitors primarily attend the venue on weekends, reflecting strong demand for transient travel, likely driven by the regional tournaments • The majority of visits to the event center occur during the week and originate within 25 miles, suggesting high usage of the sport amenities for local team practices querque NEW MEXIL Alamogordo HI HUAHUA Chihuahua DeLcias Abke��, •i Wic'nda Fa�lsi/'-� Fn,vR/ •• Snerm:h r TEXAS • • yj�:At ••• S,g. •,[' 2024 Visitation by Household Origin Llttl� Rn[k HutSpnngs Pine Elk& • s ro COAHUILA •ry Corpu4'Chris[i Taxaikans Shreveport 2. 8eim opt • Alexandria LOUISIANAZ LafarAte MISSISSIPPI Jacks& Hattiesburg Newbrleans Legends Event Center (Bryan, TX) - Total Visitation January 1, 2024 - December 31, 2024 Visitor Origins by Distance from Site (Colors correspond to charts & maps) Locals -Within 25 miles Regional & Long Distance - Over 25 miles and Less Than 100 miles Long Distance only -Over 100 miles Total Visits Source. Placer.ai 35K 30K 25K 20K 15K 10K 5K 0 Monday Tuesday Prior Williamson Park 411 Williamson Dr, Bryan, TX, V... Hyatt House Bryan / Colleg... 3062 Wildflower Dr, Bryan, TX 7... Holiday Inn Express & Suite... 3041 Plaza Centre Court, Bryan, ... Tru by Hilton 1933 Austins Colony Parkway, B... Hilton College Station & Co... 801 University Dr E, College Stati.._ 1.5% 0.6% 0.5% 0.4% 0.4% Total Visits Total Unique Customers Est. Number Percent of Est. Number Percent of Avg. Visits of Visits Total Visits of Customers Total Customers per Customer 217,300 48.9% 55,600 34.0% 3.91 117,300 26.4% 54,300 33.2% 2.16 109,500 24.7% 53,700 32.8% 2.04 444,100 100.0% 163,600 100.0% 2.71 Visitation by Day of Week Wednesday Thursday 111 Friday Saturday Sunday Top Prior and Post Locations (All Visitors) Zoe 0.9% Post Chick-fil-A 1542 W Villa Maria Rd, Bryan, TX... Gateway Station 1505 University Dr E, College Sta... Raising Cane's Chicken Fing... 2204 Briarcrest Dr, Bryan, TX77... Williamson Park 411 Williamson Dr, Bryan, TX, U... McDonald's 825 W Villa Maria Rd, Bryan, TX hunden partners Hunden.comg9F8clgi Event Organizers Takeaways Hunden interviewed event planners from national sports leagues and live music organizations to gain insights into programming best practices and strategies for designing a flexible convention center capable of attracting such events. The following key takeaways were identified: Sport Tournaments • Large national sports leagues rotate host cities annually, selecting both large and small markets. • National events that attract athletes from across the country require strong airlift accessibility, while regional and local leagues are more willing to drive long distances • Some sporting events have highly specific facility requirements — designing a versatile exhibit hall will enhance College Station's ability to secure major events • Cost-effectiveness is a key factor for event organizers; leveraging Texas' available sports grants will be critical in attracting groups Entertainment • The ideal capacity for an entertainment venue in a college town ranges from 2,000 to 2,500 attendees • Texas's live entertainment industry is rapidly growing, particularly in the concert sector • College Station's proximity to Houston presents an opportunity for smaller acts performing in Houston to consider College Station as an additional stop • Concerts should be scheduled during the academic year to capitalize on the university's student population • Events featuring country, electronic dance music (EDM), comedians, or boutique festivals would likely perform exceptionally well with college audiences partners Hunden.com 1F-Nda196 Implications Convention Center, Meetings & Entertainment Market Analysis State Association Demand Rotating state associations have shown interest in College Station and would consider the city as a host destination if a new convention center were developed. However, College Station has not fully leveraged this demand, as only 37 association events were reported in the market between 2022 and 2024. Limited Supply College Station lacks high -quality meeting space necessary to attract regional events. Inadequate hotel and meeting space was the most common reason for lost business between 2022 and 2024. Texas A&M University's facilities prioritize university -affiliated organizations and are generally not considered accessible by meeting planners. Flexible Space A new convention center should prioritize ballroom space and breakout rooms to attract local and regional meetings. However, incorporating a versatile exhibit hall would allow the venue to host sports tournaments and entertainment events, further expanding its market reach. fli111.1i111 partners Hunden.com es1 Qom, 14/ 171 -7 II pj 111111 1: ffri4 1.20 - .waremet 1! I-1 1 : 1-1 dlIIIIIIIi I/1111111E1111 Ans41014101* r iliiijiNiffiuiii ai ml ill Jaf, -1=•••• 1 111 ¶1 ItliFutliNVI II H !J!!lliHHUIl Hotel & Walkable Package Analysis Page 101 of 154 Trends & National Market Hotel Industry Trends REVENUE GROWTH As of 2024, U.S. RevPAR is 16 percent above 2019 levels, driven primarily by price growth, with ADR now 21 percent higher than in 2019 BRANDED HOTELS Since 2019, major branded hotel groups have seen double-digit growth in market share, driven by operational efficiencies, loyalty programs, and acquisitions of independent hotels DEMAND FOR QUALITY Luxury and Upper Upscale hotels have experienced increased room demand, meanwhile economy hotels have experienced a decline in RevPAR and room demand LEISURE & GROUP DYNAMICS Leisure travelers are increasingly drawn to international destinations due to the strong dollar and pent-up demand following Covid-19. However, group demand for domestic high -end hotels also continues to grow St :»U <O".b 30 20 5400 SO Global Hotel Revenues (S Billions) Global hotel revenues have exceeded 2019 levels for the first time since the pandemic. I 76% 5/2 Middle East & At, ra 2017 5819 2020 1 2022 Hotels: Branded Existing Supply vs Future Pipeline ■ Wands as%dtotal cu•ren1supply ■&ands as%of total future pipeline a�. Centro. & Soatn Arncrca 59':0 Asa Paul 90% 2023E j 2024E • 2025E US. partners Hunden.com es14 c 1$b0 Hotel Industry Trends cont. ■ Leisure travelers have driven ADR increases of around 20 percent since 2019. However, some markets that previously performed well by attracting leisure travelers are now experiencing slower growth due to increased overseas travel. ■ Group travel RevPAR rose by 6.9 percent, driven by a 4.1-percent increase in ADR. Lower office occupancy has led companies to hold group events to strengthen team cohesion, often utilizing full -service hotels with meeting spaces. ■ High interest rates have stabilized the number of rooms under construction, reducing the pipeline from pre -pandemic levels. Source: Costar partners Hunden.com 51-Q4cW,1$O1 Trends of Note Brands Multiply Major hotel brands dominate the market with advanced strategies, leaving independent hotels to rely on pricing to compete. Shared Spaces and Rentals Airbnb and similar platforms like VRBO and HomeAway have transformed the lodging industry by adding inventory to expensive hotel markets, allowing residents in high -cost areas to rent their homes to travelers, making it a viable option for both parties. h fir partners Companies Consolidate The Marriott-Starwood merger highlights the trend of hotel companies consolidating to improve scale, market power, and leverage current market dynamics. Work from Anywhere The trend of lifestyle hotels targeting Millennials and Gen Z features active social spaces, minimalist rooms, and retro-modern designs, helping mitigate construction and labor costs, while accommodating the "work - from -anywhere" concept, popular among younger professionals. Boutique Brands Major hotel brands are expanding into the independent boutique hotel market by creating "soft brands" that benefit from the main brand's resources, like Marriott's Autograph Collection. Micro Hotels Micro hotel rooms, like Marriott's Moxy brand, are half the size of traditional rooms, designed for efficiency and essentials due to high real estate costs in urban areas, featuring extensive shared spaces and appealing to millennials who prioritize experiences over room size. 1 1 111111011111 lilt; ' i1r?lei,, _ (7:. r Hotel Ownership Trends Hotel Franchises vs. Owner/Operators ■ Marriott, Hilton, and Hyatt moved to franchising to avoid financial risks associated with real estate and to scale up their companies much faster. Each now owns less than two percent of their properties. ■ Companies like MCR own and operate the hotels and pay a 5- to 15-percent franchise fee to larger hotel brands to use its "flags" for recognition. ■ In addition to the profile that comes with the "flag," those brands also provide operators with data on lobby design, suggested amenities, and strategies to maximize nightly room revenue. partners Hunden.com es 1-Q 1$O3 Local Hotel Market Local Hotel Performance Based on 2025 data from CoStar Group and Smith Travel Research, College Station and Bryan have a combined total of 6,211 hotel rooms available per night, across 65 properties. The majority of hotels in these markets are classified as Upper Midscale and Upscale properties, at 24 percent and 20 percent, respectively. City of College Station Performance (2025): 12-Month Key Market Indicators: Development Pipeline: Occupancy 54.3% Total Room Supply 4,425 Rooms ADR $137.15 Total Properties 43 Hotels YOYADR Growth 3.26% Delivered Past 2 Yrs 160 Rooms RevPAR $74.4: Under Construction 0 Rooms City of Bryan Performance (2025): 12-Month Key Market Indicators: Development Pipeline: Occupancy ou. 1 ro Total Room Supply i,786 Rooms ADR $106.76 Total Properties 22 Hotels YOYADR Growth 3.75% Delivered Past 2 Yrs 69 Rooms RevPAR $64.20 Under Construction 0 Rooms partners Hunden.com es1Mir,lfes Local Hotel Environment Based on raw data from Smith Travel Research, there are 6,211 hotel rooms available per night in the College Station -Bryan combined market. The Texas A&M Hotel and Conference Center is the only luxury property in the market, with the majority of hotel supply classified as Upper Midscale and Upscale. The average property age is 24 years, reflecting the introduction of higher - end hotels to the College Station market in recent years. Ch ain scale Luxury Upper Upscale Upscale Upper Midscale Midscale Economy Independent Total/Average Lodging Summary College Station -Bryan, TX % of Total Rooms Rooms Hotels 247 4% 1 997 16% 6 1,233 20% 11 1,294 21% 14 845 14% 13 1,175 19% 13 420 7% 7 6,211 100% 65 Source: Smith Travel Research Rooms per Hotel 247 166 112 92 65 90 60 119 Avg Year Open / Renovated Aug-18 Mar-97 Sep-12 Oct-08 Jan-13 Aug-94 Dec-66 Sep-01 Avg Age (Years) 07 Years 28 Years 13 Years 17 Years 13 Years 31 Years 59 Years 24 Years partners Hunden.com 051-Q9cf e6 Competitive Hotel Supply Analysis Hunden analyzed 15 hotels within the selected competitive set, based on quality, inclusion of meeting space, and targeting of group business. The Hilton College Station & Conference Center has the largest room count in the competitive set, accounting for 14.4 percent of total rooms. Most properties in the set are located near University Drive, highlighting the concentration of activity around Texas A&M University's campus and its strong demand for hospitality services. Relevant Local Hotel Supply List College Station , TX Property Name Hilton College Station & Conference Center Texas A&M Hotel and Conference Center The Stella Hotel, Autograph Collection Aggieland Boutique Hotel The George Embassy Suites by Hilton College Station Cavalry Court Hilton Garden Inn College Station Hyatt House Bryan College Station aloft Hotel College Station Hyatt Place College Station Staybridge Suites College Station Residence Inn Bryan College Station Homewood Suites by Hilton College Station The LaSalle Hotel, Bryan College Station, A Tribute Portfolio Hotel AveragelTotal Source: Smith Travel Research Rooms % Rooms Scale Date Opened 301 14.4% Upper Upscale Jun-85 247 11.8% Luxury Aug-18 176 8.4% Upper Upscale Apr-17 166 7.9% Upscale Oct-17 162 7.7% Upper Upscale Sep-17 162 7.7% Upper Upscale Oct-17 141 6.7% Upper Upscale Nov-16 119 5.7% Upscale Nov-13 112 5.4% Upscale Mar-22 105 5.0% Upscale Sep-15 91 4.3% Upscale Sep-05 88 4.2% Upscale Sep-14 84 4.0% Upscale Oct-08 83 4.0% Upscale Dec-04 55 2.6% Upper Upscale Jun-28 2092 100% 15 Hotels Jan-07 mo* Embassy Ctzfrky A&M Conference E�, 1er vnrn Nrpcit Competitive Hotel Supply College Station glEGg House Hilton Garden College Staybridge conference. -.OEM gb3D Residence gj **WAloft Hotel G"ik uuausuat7 Court Hotel Station Hilton George Texas A&M University Aggieland Boutique Hotel Legend • Luxury * Upper Upscale * Upscale hL111 partners Hunden.com Competitive Set Performance Hunden analyzed data from Smith Travel Research to assess the competitive set's performance from January 2016 through December 2024. The average room supply has more than doubled since 2016, reflecting a historical surge in hotel development within the local market. Recent occupancy rates have been notably high, exceeding pre -pandemic levels by more than seven percent. Additionally, the Average Daily Rate (ADR) has shown consistent growth, particularly since 2020. As of December, year-to-date Revenue per Available Room (RevPAR) has increased significantly from 2023, driven by higher ADR and occupancy levels. Historical Supply, Demand, Occupancy, ADR, and RevPar for Competitive Hotels College Station, TX I Competitive Set Annual Avg. Available Available Room % Room % % % % % Year Rooms Nights Change Nights Sold Change Occupancy Change ADR Change RevPar Change 2016 939 342,868 - 231,745 - 67.6 - $134.06 - $90.61 - 2017 1,327 484,218 41.2% 285,777 23.3% 59.0 -12.7% $131.64 -1.8% $77.69 -14.3% 2018 1,840 671,525 38.7% 375,102 31.3% 55.9 -5.4% $134.58 2.2% $75.17 -3.2% 2019 1,985 724,525 7.9% 412,924 10.1% 57.0 2.0% $130.24 -3.2% $74.23 -1.3% 2020 1,804 658,345 -9.1% 230,423 -44.2% 35.0 -38.6% $108.79 -16.5% $38.08 -48.7% 2021 1,818 663,476 0.8% 381,109 65.4% 57.4 64.1% $135.91 24.9% $78.07 105.0% 2022 2,062 752,556 13.4% 451,461 18.5% 60.0 4.4% $153.10 12.6% $91.84 17.6% 2023 2,084 760,742 1.1% 458,225 1.5% 60.2 0.4% $163.38 6.7% $98.41 7.2% 2024 2,055 750,215 -1.4% 480,768 4.9% 64.1 6.4% $177.95 8.9% $114.04 15.9% I CAGR(2016-2024) 14.9% 13.4% -0.6% 4.1% 3.2% Source: Smith Travel Research, Hunden Partners hL1f1'. partners Hunden.com e51-11,d ille8 Supply and Demand The local competitive set experienced a sharp increase in room supply during 2017 and 2018, with the addition of 913 rooms across five new properties. However, the onset of the pandemic in March 2020 led to hotel closures, resulting in a decline in both available supply and demand. Hotel room demand follows consistent seasonal trends, with significantly lower demand during winter months compared to spring and early fall. While demand has steadily increased in recent years, it has not kept pace with the growth in hotel supply, leaving 2024 occupancy levels below those of 2016. 70,000 60,000 50,000 40,000 30,000 Monthly Room Night Supply & Demand (January 2016 - December 2024) r I' 20,000 - II�iI 10,000 l a 11 11 i .j 0IIIiALAiiir7irriii111111iLrm 11 111iiiir711111iiiriii'Tr7r II!IIIiiiiihi1 ii i \ ` r4 i � P<o��o��o �1 � �oG��,�� o��oG\. P�`�o J�Sb oG��o ��PQ`���o�G��o �C\yP�` ,J\oG�ti a��PQ��,��oG��, �`�,J�oG�ti ��PQ���o��r�o Source: Smith Travel Research Demand Supply —12 per. Mov. Avg. (Demand) —12 per. Mov. Avg. (Supply) partners Hunden.com %I-12dg, 1sb9 Heat Chart The adjacent tables detail the performance of the local competitive set by month and day of week from January 2024 through December 2024, providing insight into seasonality and daily performance. As shown, both occupancy and rates peak on weekends, particularly in late spring and fall. This trend is likely driven by Texas A&M University's academic and athletic calendar, with graduations occurring in May and the NCAA football season taking place in the fall. Conversely, Sundays through Tuesdays consistently recorded the lowest ADR and weakest occupancy levels, reflecting a market driven more by leisure than corporate and association business. Jan -24 Feb-24 Mar-24 Apr-24 May - 24 Jun-24 Jul -24 Aug-24 Sep-24 Oct - 24 Nov - 24 Dec - 24 Averag e ADR by Day of Week by Month - January 2024 - December 2024 Sunday Monday Tuesday Wednesday Thursday Friday Saturday I Avg $124 $131 $135 $136 $135 $136 $143 $134 $133 $145 $132 $129 $134 $128 $135 $141 $135 $135 $142 $147 $135 $134 $157 $134 $130 $138 $134 $137 $141 $138 $143 $151 $161 $138 $141 $151 $138 $136 $143 $132 $149 $140 $144 $161 $149 $164 $148 $149 $149 $141 $151 $148 $132 $147 $145 $163 $203 $161 $168 $158 $149 $156 $151 $175 $147 $176 $165 $250 $220 $204 $174 $291 $229 $361 $343 $167 $147 $172 $157 $248 $198 $256 $169 $299 $242 $365 $360 $161 $136 $153 $148 $181 $179 $176 $162 $206 $169 $216 $236 $152 $159 $227 $231 Sources: Smith Travel Research Jan - 24 Feb-24 Mar - 24 Apr - 24 May - 24 Jun -24 Jul -24 Aug - 24 Sep-24 Oct - 24 Nov - 24 Dec - 24 Average Occupancy Percent by Day of Week by Month - January 2024 - December2024 Sunday Monday Tuesday Wednesday Thursday Friday Saturday I Avg 35.1 % 41.5% 41.0% 48.3% 40.4% 46.0% 47.7% 40.3% 31.7% 53.3% 41.6% 27.4% 40.8% 40.2% 58.9% 65.8% 51.9% 48.8% 71.8% 64.8% 56.1% 48.1% 74.7% 50.6% 38.2% 55.1% 51.8% 65.8% 72.3% 66.5% 65.2% 75.3% 73.8% 57.1 66.4% 72.5% 60.1% 41.3% 63.7% 56.5% 68.7% 69.9% 67.5% 73.7% 79.3% 77.0% 58.4% 76.2% 70.4% 62.6% 48.8% 67.6% 54.1% 63.4% 62.4% 71.0% 73.6% 84.8% 78.9% 60.3% 65.5% 71.5% 58.4% 53.7% 66.5% 67.8% 86.6% 74.4% 92.9% 81.5% 79.8% 74.0% 78.1% 61.2% 85.8% 87.6% 57.4% 70.3% 82.4% 72.2% 90.2% 84.9% 79.2% 70.3% 80.8% 62.4% 84.7% 93.3% 58.1 % 77.7% 53.3% 66.7% 65.1% 69.1% 67.8% 73.0% 69.7% 62.7% 57.5% 73.1% 66.6% 45.4% Sources: Smith Travel Research h fir partners Hunden.com 1- da1t10 Implications Hotel &Walkable Package Analysis Supply Growth & Demand Lag The College Station competitive hotel market has expanded significantly over the past decade, with available supply doubling since 2016. As a result, the market has not yet fully absorbed the additional rooms, and occupancy levels remain below 2016 levels. Seasonality Trends As the home of one of the largest universities in the country, College Station's hospitality performance is heavily influenced by Texas A&M University's academic and athletic calendar. Both occupancy and rates peak on weekends during the NCAA football season and the university's graduation ceremonies. Limited Group Business College Station's hotel market offers limited meeting space to attract group business. As a result, occupancy and rates are weakest on weekdays, creating a missed opportunity for the city to capture additional overnight stays and event -driven spending. it r:� T+-T7yTl4 -s �_3.+.� •'OFFS;, :.. Tr* L. 4 tlil1F1i111 partners Hunden.com 51- 4c 1$11 1 II pj 111111 1: .waremet 1 I-1 1 : 1-1 • Ans0411111101* r 'iliiijiNiffiui iih IN IN 1 Jaf, -1=•••• 1 Ill ¶1 ItliFutliNVI II H !J!!lliHHUIl Case Studies & Best Practices Page 115 of 154 Case Study Methodology Hunden conducted an in-depth analysis of comparable hotel and convention centers across the U.S. with programming similar to the proposed Project and market similarities to College Station. These case studies highlight facility offerings, performance, and best practices from discussions with management. Additionally, Hunden identified entertainment venues that also serve as meeting and conference spaces, illustrating how a multipurpose facility in College Station could accommodate sports, entertainment, and traditional conventions and meetings. In the case studies chapter, Hunden will identify: • Relevant convention & hotel facilities in various markets across the United States, • Funding mechanisms associated with development, • Annual visitation and visitor trends, utilizing geofencing tracking analytics, and • Best practices derived from private management related to facility operations. partners Hunden.com 051-fiAcal$13 Entertainment Venues Flexible Music & Entertainment Venues for Inspiration Year Opened: 2019 Function Space: 60,000 SF (9,000 SF Ballroom) Arena Capacity: 3,950 Cost: $38 Million Funding Tools: Private Year Opened: 2013 Function Space: 51,500 SF (20,000 SF Event Center) Arena Capacity: 5,000 Cost: $24 Million Funding Tools: The project was funded through a one - percent sales tax increase approved by voters, with municipal bonds issued against the revenue. Later, Stride Bank's naming rights provided private funding for operations and improvements. 051-cW,1t15 partners Hunden.com Mission Ballroom The Mission Ballroom is one of the country's leading music and entertainment venues. The site provides an inspirational case study for a multipurpose concert and event space. Location: Operator: Year Open: Capacity: Notes: Denver, CO AEG 2019 3,950 The Mission Ballroom, opened in August 2019 and operated by AEG, is a flexible 60,000-square-foot concert and event space featuring a 9,000-square-foot ballroom for corporate meetings, galas, weddings, and trade shows. In 2023, the venue hosted 155 events and ranked 107th on Pollstar's list of top -grossing auditoriums and theaters. !,���I�IIIIIIIYI�IIIII[�iflllllU„, y, partners Hunden.com 05149 1 16 Stride Bank Center The Stride Bank Center serves as a relevant case study of a venue that has both an arena and adjacent conference facility. Location: Enid, OK Owner: City of Enid Operator: OVG Year Open: 2013 Capacity: 5,000 Notes: The Stride Bank Center opened in 2013 and was known as the Enid Event Center and the Central National Bank Center before becoming the Stride Bank Center in 2018. Built at a cost of $24 million, the complex features a 5,000-seat arena that converts into a 30,000-square-foot event space. An adjacent 20,000-square-foot facility includes a divisible ballroom for meetings, conferences, weddings, and banquets. partners Hunden.com-;!es1--2,0cOnill Stride Bank Center Stride Bank Center- Enid, OK • The Stride Bank Center is Enid's Exhibit Space convention center and most popular Stride Bank Center Arena (5,000 capacity) event facility. Ballroom Space (Event Center) • The venue features an 11,000-square- Grand Ballroom foot Grand Ballroom, a 3,000-square- Benson Ballroom foot Benson Ballroom, and more than 5,500 square feet of meeting rooms. Meeting Space (Event Center) • Connected to the Stride Bank Center Total (formerly the Enid Event Center), which opened in June 2013, the arena seats 3,200 for sports and 3,800 for concerts, with a 31,500-square-foot show floor for trade shows. • Both buildings provide additional meeting space for events. • The Best Western, opened in 2021, offers 96 rooms adjacent to the center. Total (SF) By Division (SF) Divisions 31,500 31,500 14,500 11,000 3,500 5,500 51,500 9 9 Summary SF Rooms/1000 SF Divisions Exhibit 31,500 31.5 — Ballroom 14,500 14.5 — Meeting Rooms 5,500 5.5 9 Total 51,500 51.5 9 Walkable Hotels Room Count Distance (Miles) Hotel Class GLo Best Westem Enid OK Downtown/Conven 96 0 Upper Midscale Total 96 Source: Stride Bank Center, STR partners Hunden.com es121,,#,l' g 8 IConvention Center Convention Center Case Studies Overview Waco Convention Center Year Opened: 1972 Function Space: 80,309 SF Cost: $17.5 Million (2012 Renovations) Funding Tools: The City of Waco approved a bond package totaling $63 million in 2007, with $17.5 million allocated for the extensive renovations of the convention center. Overland Park Convention Center Year Opened: 2002 Function Space: 98,530 SF Cost: $46 Million Funding Tools: The City of Overland Park issued $33 million in bonds to refinance debt tied to the construction of the Overland Park Convention Center. Year Opened: 2005 Function Space: 56,849 SF Cost: $36 Million Funding Tools: Funded through TIF and a five -percent county- wide hotel tax approved by St. Charles County Convention and Sports Facilities Authority. partners Hunden.com 051-2cW,1$20 Waco Convention Center Breakdown The Waco Convention Center (WCC) opened in 1972 in downtown Waco along the Brazos River. The convention center is connected to the 195-key Hilton Waco. The convention center features two exhibit halls (32,976-square-foot Chisholm Hall exhibit hall and 15,000-square-foot McLennan Hall), a 13,818- square-foot Brazos Ballroom (divisible by two) and a total of 18,515 square feet of meeting space across 13 rooms. The facility overlooks Indian Spring Park and the Brazos River and is located six blocks from Interstate 35. Waco Convention Center Exhibit Space Chisholm Hall McLennan Hall Waco Convention Center, Waco, TX Total (SF) By Division (SF) 47,976 32,976 15,000 Divisions 3 3 Ballroom Space 13,818 2 Brazos Ballroom North 7,252 Brazos Ballroom South 6,566 Meeting Space 18,515 13 DeCordova Room 3,332 Event Office 1,632 Waco Room 1,612 Texas North 113 1,560 Texas North 114 1,540 Texas North 115 1,530 Texas South 116 1,428 Texas South 117 1,404 Texas South 118 1,372 Ranger Rooms 864 Lone Star103 780 Lone Star 104 763 Lone Star105 698 Total 80,309 21 Summary SF Rooms/1000 SF Divisions Exhibit 47,976 16.9 3 Ballroom 13,818 58.8 2 Meeting Rooms 18,515 43.9 13 Total 80,309 10.1 18 Walkable Hotels Room Count Distance Hotel Class Hilton Waco (connected) 195 0.1 Upper Upscale Courtyard Waco 153 0.1 Upscale EVEN Hotels Waco - University Area (U/C) 132 0.3 Upscale Cambria Hotels Waco University 130 0.3 Upscale Residence Inn Waco 78 0.3 Upscale Hotel Heringbone(U/C) 21 0.3 Independent Holiday Inn Express Waco Downtown (U/C) 104 0.3 Upper Midscale Total 813 Source: Waco Convention Center, Hunden Partners Hunden.com es1-24ca 21 Waco Convention Center - Visitation (2024) Key Takeaways • In 2024, nearly 40 percent of all visitors traveled long distances, though most remained within the state. About 60 percent came from within 100 miles ■ Visitation peaked on Fridays and Saturdays, while activity was more stagnant during weekdays ■ The Hilton Waco was the most frequented pre- and post -event location for Waco Convention Center visitors, highlighting the impact of direct connectivity between the two properties • San47 Fe NEW MEXICO CHIHUAHUA Chihuahua - __Cui ac Arn'' illo .4 • • COAHUILA Torreon N.L • -0 KI.AHHMA Oklahgine•City 2024 Visitation by Household Origin N A R7(.1 5�15 �e t5hr�veport :ems •''• r,; LR1'1544NC .�f Corpus Christi 0,06 Mon- h MISSISSEPPI Jackson NcwOrLcans Gulf of Mexico A LAUP.MA AtlBRts• GEOI Tallahassee Waco Convention Center (Waco, TX) - Total Visitation January 1, 2024 - December 31, 2024 Visitor Origins by Distance from Site (Colors correspond to charts & maps) Locals -Within 25 miles Regional Distance - Over 25 miles and Less Than 100 miles Long Distance only - Over 100+ miles Total Visits Source Placer al 20K 15K 10K EK 0 W Monday TueadRy Prior Hilton Waco 113 South University Parks Drive, Waco, TX 76701-2241 Courtyard Waco 101 Washington Avenue, Waco, TX 76701 Springhill! Suites by Marriott Waco 115 South Jack Kultgen Expressway, Waco, TX 76706 Holiday Inn & Suites Waco Northwest 1801 Development Boulevard, Waco, 7X 76705 Hotel Indigo Waco - Baylor 211 Clay Ave, Waco, 7X 76706 Total Visits Total Unique Customers Est. Number Percent of Est. Number Percent of of Visits Total Visits of Customers Total Customers 45,700 32.7% 29,100 42,000 30.0% 25,200 52,200 37.3% 27,200 139,900 100.0% 81,500 Visitation by Day of Week Top Prior and Post Locations (All Visitors) 35.7% 30.9% 33.4% 100.0% kinky Saturday Post 25.7% 12.3%. Hilton Waco 113 South U nlversity Pa rks Drive, Waco, TX 76701-2241 15.2% 411 2.2% 2% 1.7% 3.1% 215 5 2Nd St, Waco, TX, United States Avg. Visits per Customer 1.57 1.67 1.92 1.72 Sunday Courtyard Waco 101 Washington Avenue, Waco, TX 76701 2.2% 1.2% River Square Center springHill Suites by Marriott Waco 115 South Jack Kultge n Expressway, Waco, TO 76706 Holiday Inn &suites Waco Northwest 1801 Development Boulevard, Waco, TX 76705 hunden partners Hunden.com esca1$t2 Waco Convention Center - Lost Business Overview The table to the right outlines the reasons that Waco Convention Center lost business from FY 2022 to FY 2026. The majority of lost business simply indicated there was a vote to select another location for a group's event. Lack of date availability was noted as the second most common reason for lost business. The estimated lost revenue during this period exceeds $1 million across 95 events. Waco is currently losing business to other secondary and tertiary markets that cater toward groups looking for mid- sized venues due to the quality of the facility, size constraints, and lack of date availability. Lost Business Summary (2022-2026) Reason Board/Committee/Member Vote Desired Dates Not Available / Insufficient Space Customer Preference/Politics Postponed Safety Concems Can't Meet Client Specs/Special Accommodations Hotel Rates Too High Transportation Needs Not Met Source: Visit Waco Event Count 48 22 7 5 5 4 2 2 Total 95 Event Ordered Revenue $589,362 $238,014 $55,752 $27,960 $67,879 $7,759 $17,937 $22,167 $1,065,759 partners Hunden.com The Future of Waco as a Convention Destination ■ The major markets within Texas (Dallas, Fort Worth, San Antonio, Austin, and Houston) are all simultaneously making major investments in their convention center and/or headquarters hotel packages. Through meeting planner interviews, Hunden concluded there are a high volume of groups rotating business through Texas that prefer secondary markets for their events. As the major metros continue to grow, they will continue to pursue larger city-wide events, leaving opportunity for smaller, yet impactful regional/national events for a mid -sized center within the state. ■ With a larger convention center, Waco is likely to compete with a new set of cities for business such as Arlington and Irvine. These cities have completed their facilities, preventing them from pursuing incentives that could be leveraged by Waco. ■ Waco has emerged as a prominent leisure destination that meeting planners view as an attractive location for events with a growing hotel supply and unique entertainment assets. partners Hunden.com Overland Park Convention Center Breakdown The Overland Park Convention Center (OPCC) opened in 2002 and cost $46 million to build. The convention center is connected to the 41 2-key Sheraton Overland Park Hotel. The facility boasts 98,530 square feet of total function space, which includes a 58,494- square-foot exhibit hall, a 24,991-square-foot ballroom, and additional meeting rooms. On -site amenities include restaurant, catering, private outdoor space, and meeting rooms. The facility can accommodate meetings and conferences, consumer trade shows, banquets and galas, and weddings. This facility is one of the most utilized event spaces in the local market. Overland Park Convention Center, Overland Park, KS Exhibit Space Hall A Hall B Ballroom Space Ballroom Al Ballroom A2 Ballroom B Ballroom C Meeting Space Courtyard Room 1 Courtyard Room 2 Courtyard Room 3 Courtyard Room 4 Courtyard Room 5 Courtyard Room 6 Courtyard Room 7 Executive Conference Room Summary Exhibit Ballroom Meeting Rooms Total Walkable Hotels Sheraton Hotel Hilton Garden Inn Courtyard Kansas City Holiday Inn & Suites Total Source: Cvent Total (SF) By Division (SF) Divisions 58,494 2 29,030 29,464 24,991 15,045 98,530 SF 58,494 24,991 15,045 98,530 Room Count 412 125 168 119 824 4,232 4,250 7,830 8,679 3,093 1,858 1,810 1,810 1,858 1,858 1,858 900 Rooms/1000 SF 14.1 33.0 54.8 8.4 Distance 0 0.1 0.1 0.3 4 8 14 Divisions 2 4 8 14 J L11J partners Hunden.com xy�4� 128caf25 Overland Park Convention Center - Visitation (2024) Key Takeaways • More than 60 percent of 2024 visitors came from within 25 miles, but out-of-state travelers from multiple markets highlight broader appeal • Saturdays saw the highest visitor traffic • The OPCC's connected, walkable hotels drive visitor activity, as reflected in pre- and post -visitation patterns 2024 Visitation by Household Origin FLagstaN ASIzoeA PhaBOUr 111 t. 0 COLOR r Santa Fe NEW mExlco SONORA m0.silLa Et Paso CHIHUAHUA Chihuahua • s:• 6WA NEaRASHA ka' ▪ 390 • • • - • .IN▪ pNA AmanLLe COAHII ILA [Las TEXAS r .M1usclo - ♦TVestop New Orleans Ea:aawnlo 4n - A.ktir,- S Memphis snJpad KENTUCKY T.ELNE0SEE • • r1l$ota MISSISSIPPI ALABAMA • ' Ottawa ▪ Burlington / - • 4EW AORK PENNSYLVANIA Pittsburgh ;rnra- Ylk ,-urvu • VIRGIN I.� ftor �Ik NORTH ;c NA RO LIrvA Wilrfin9_A- Jarkmn - . MatarNovw Gulf of FLORECA Tdo'paa ! ...y • Overland Park Convention Center (Overland Park, KS) - T January 1, 2024 - December 31, 2024 Visitor Origins by Distance from Site (Colors correspond to charts & maps) Locals - Within 25 miles Regional Distance - Over 25 miles and Less Than 100 miles Long Distance only - Over 100+ miles Total Visits Source Placer al TOOK fBOK KOK IOK 20K 0 Monday Tuesday Prior Sheraton Hotels & Resorts 6100 College Blvd, Overland Park. KS 66211 Hilton Garden Inn Overland Park 5800 College Blvd, Overland Perk, KS 66211 Courtyard Kansas City Overland Park/Convention Center 11001 Woodson Ave. Overland Perk, KS 66211 Holiday Inn & Suites Overland Park-Conv Ctr, an 3HG Hotel 10920 Nall Ave, Leawood, KS 66211 Marriott Kansas City Overland Park 10600 Steccalf Ave. Overland Park. KS 66210 Top Prior and Post Locations (All Visitors) Total Visits Est Number Percent of of Visits Total Visits 262,300 61.3% 62,700 14.7% 102,900 24.0% 427,900 100.0% Visitation by Day of Week 19% 1% otal Visitation Total Unique Customers Est. Number Percent of of Customers Total Customers Fniny Post 161,100 42,400 51,200 254,700 63.3% 16.6% 20.1% 100.0% Saturday Sheraton Hotels & Resorts 6100 College Blvd, Overland Park, KS 66211 Avg. Visits per Customer 1.63 1.48 2.01 1.68 Sunday Courtyard Kansas City Overland ParklConvention tenter 11001 WEInd5rtft Ave, Overland Park, KS66211 McDonald's 10999 Metealf Ave, Overland Park, KS 66211 Hilton Garden Inn Overland Park 0800 College Blvd, Overland Park, KS 66211 Holiday Inn & Suites Overland Park-Conv Ctr, an IHG Hotel 10920 Nall Ave, Leawood, KS 66211 h partners Bahamas Hunden.com es1294,1$26 St. Charles Convention Center Breakdown The St. Charles Convention Center (SCCC) opened in 2005 and cost $36 million to build. The convention center is connected to the 296-key Embassy Suites Hotel. The facility boasts 56,849 square feet of total function space, which includes a 27,600- square-foot exhibit hall, a 22,225-square-foot ballroom, and additional meeting rooms. Most events hosted at the property are corporate events or banquets. Three walkable hotels are within 0.3 miles from the event center, totaling 405 rooms. On -site amenities include restaurant, catering, and a gift shop. St. Charles Convention Center, St. Charles, MO Total (SF) By Division (SF) Divisions Exhibit Space 27,600 2 North Hall 14,500 South Hall 13,100 Ballroom Space 22,225 10 Ballroom A 4,010 Ballroom B 4,010 Ballroom C 4,010 Ballroom D1 1,390 Ballroom D2 1,410 Ballroom D3 1,370 Jr. Ballroom A 1,450 Jr. Ballroom B 1,530 Jr. Ballroom C 1,530 Jr. Ballroom D 1,515 Meeting Space 7,024 7 Meeting Room 101 1,100 Meeting Room 102 1,000 Meeting Room 103 1,000 Meeting Room 104 840 Meeting Room 105 1,310 Executive Board Room 1,270 Conference Room 504 56,849 19 Summary SF Rooms/1000 SF Divisions Exhibit 27,600 14.7 2 Ballroom 22,225 18.2 10 Meeting Rooms 7,024 57.7 7 Total 56,849 7.1 19 Walkable Hotels Room Count Distance Embassy Suites 296 0 Baymont 45 0.1 Americas Best Value Inn 64 0.3 Total 405 Source: St Charles Convention Center J L11J partners Hunden.com e51-Nd 27 St. Charles Convention Center - Visitation (2024) Key Takeaways • More than half of visitors traveled from within 25 miles, while long- distance travelers came mainly from neighboring states and major metros like Chicago and Dallas • Visitation remained steady on weekdays, with peak traffic on Saturdays and Sundays • Embassy Suites (connected to SCCC) was the top pre- and post -visit destination, followed by Mark Twain Village, highlighting the strong synergy between nearby hotels, retail, and dining United States KANSAS MUNN okranema`t,ry Lawton Days, +'oaiiaz • • <r Clekromes iN isgo u • ry, 2024 Visitation by Household Origin ILL LIN0i5 _ Jackson MISSISSIPPI N . •+iAPa TEVNESSEE . Atr-^ rrso� cnvo LIVX rn TuscTuscaloosa• n.g� ;t St. Charles Convention Center (St. Charles, MO) - Total Visitation January 1, 2024 - December 31, 2024 Visitor Origins by Distance from Site (Colors correspond to charts & maps) Locals -Within 25 miles Regional & Long Distance - Over 25 miles and Less Than 100 miles Long Distance only -Over 100 miles Total Visits Source. Placer.ai 50K 50K 40K a 30K 20K 10K 6 Monday Tuesday Embassy Suites By Hilton St. Louis St. Charles 2 Convent) on Center Plaza, St. Charles, M063363 Mark Twain Village 1355 Bass Pro Dr, Saint Charles, MO, United States Cracker Bartel Old Country Store 901 Veterans Memorial Pkwy, Saint Charles, MO 63303-2120 Metro on 5th 901 Time Centre Dr, 5t Charles, MO, United States Hampton Inn & Suites St. Charles Old Town Area 1410 5 Sth 5t, St Charles, MO 63301 Total Visits Total Unique Customers Est. Number Percent of Est. Number Percent of of Visits Total Visits of Customers Total Customers 171,600 53.0% 98,800 56.5% 61,300 18.9% 35,600 20.4% 90,700 28.0% 40,400 23.1% 323,600 100.0% 174,800 100.0% Visitation by Day of Week Avg. Visits per Customer 1.74 1.72 2.25 1.85 LI Id III III Thursday Fnday Prior Top Prior and Post Locations (All Visitors) 30.3% 1.5% 79i 0 L 0.944 Post Saturday Sunday Embassy Suites By Hilton St. Louis St. Charles 2 Convention Center Plaza, St Charles, MO 63303 Mark Twain Village 1355 Bass Pro Dr, Saint Charles. MO, United States QuikTrip 1640 5 5th St, St Charles, MO 63303 Cracker Barrel Old Country Store 901 Veterans Memorial Pkwy, Saint Charles, MO 63363-2120 Raising Cane's Chicken Fingers 1840 1st Capitol Dr, St Charles, MO 63301 partners Hunden.com e5 1-+al,d lf2 8 Case Study & Private Management Feedback Themes The following themes capture the key focus areas from stakeholder discussions with case study facilities and private management representatives. During the planning stages, it is critical to align on the true purpose of the event facility and the primary group types it will serve (e.g., local organizations vs. regional and statewide groups). Build a flexible, tech -ready venue with ample networking spaces (indoor and outdoor) to cater to evolving event needs. A connected or adjacent full -service hotel and walkable mixed -use district is crucial for attracting high - value groups and association events. New build design should include adequate pre -function areas, flexible exhibit/ballroom space, high ceilings, and modern tech infrastructure for multipurpose use. Consider private management for operation efficiency and a dedicated maintenance reserve fund for long- term sustainability. Target corporate and association business by ensuring a flexible facility. A connected hotel will be essential for attracting conventions. partners Hunden.com 051 crA,1$29 Benefits of Private Management 0 e • 4 Municipal Partners Maintain Control Municipalities maintain approval of operating and capital budgets, direction, and supervision of policy, and regular financial and management reports. Municipal partners benefit from the implementation of best practices accumulated by the large portfolios of private firms. Financial Operations Municipalities benefit from standardized reporting, benchmarking, lead generation, and national ticketing deals, internal controls and audits, and transparency. Private firms leverage expertise, experience, and resources to serve municipalities and boost impact. Human Resources & Professional Development Municipalities benefit from professionally trained and experienced managers, freedom from municipal hiring restrictions and bargaining units, training programs and conferences, and organized labor negotiations and relationships. ASM Global has historically transitioned more than 90 percent of municipal employees at the venues they manage. Risk Management Municipalities benefit from contracts and license agreement support, standardized agreements, and insurance procurement and leverage. Private firms provide programs that create safe environments and promote high levels of guest service. Operations Municipalities benefit from best practices programs, proprietary software, master service agreements, preferred vendor relationships and pricing, and venue assessments. Private firms' teams provide excellence and fiduciary care for their venues. partners Hunden.com Implications Case Studies & Best Practices Analysis HQ Hotels Boost Competitiveness Developing an HQ hotel has significantly improved convention centers' ability to attract regional and national events, expanding their market reach beyond local business. Walkability & Activation Drives Success A lack of walkable hotels is a key competitive disadvantage. Adjacent retail, dining, and entertainment enhance destination appeal for meetings and events. Private Management Ensures Smooth Operations While not all successful convention centers are privately operated, leading private firms drive revenue, align with municipal goals, and maximize economic impact. 11411e- -... ..., ___ _J= t�il1Fll�ll partners Hunden.com 051 c 1$31 i11111/11€1111 ,rawmare. 1, 1 I II IINI FBI II 1 gg@ilial II pj 111111 1: "ITO iliiijiNiffiui iih Jaf, -1=•••• 1 III 5 ItliFutliNVI II H !J!!lliHHUIl Layouts & Site Evaluation Page 135 of 154 Site Evaluation Focus Areas , %"jai 1 +, ~•J .�M' w•.�-'i�+'�>r.v.r� �f�4 �� *Rf ! 1 �5.: St Joseph" HeaIth College >� ti•;r �: H;� ,.. ��r+.. 1 _w Station Hospital:., L' 4� �f. � 'E !�. ,�} � �:-�..•..... ; f� ,' � _.<_ .>,,a � it' '(tr. OP' "rAdire•Atip-Hr ....? w' . - =.Bee Creek" • - t 'f•+;ft.• � :,Parke 1,..k ' . _ •� '! • rt,11. partners Hunden.com Area Scoring Matrix Legend 1. Concerning 2. Somewhat Concerning 3. Neutral 4. Good 5. Best Evaluation Criteria University Dr. & Texas Ave. University Dr. & College Ave. University Dr. & Tarrow Street Former Macy's Building Midtown City Center Site Configuration Area Score (Available Land) Neighborhood Characteristics Proximity to Existing Quality Hotels Proximity to Supportive Land Uses Opportunities for Collateral Development Pedestrian Access / Walkability Proximity to Retail & Restaurants Proximity to Texas A&M Campus Proximity to a Major Airport Proximity to Tourist Attractions / Entertainment Proximity to Public Transportation Proximity to Recreational Area Proximity to Major Road Network / Truck Route Site Analysis Demolition & Site Preparation 3 Complex Site Constraints (i.e. Size / Shape) 3 Topography 5 Desirable Ambiance 5 Noise Levels 4 Parking Availability 4 Integration Potential with Current Masterplan / 4 Neighborhood Other Factors Land Owned by City / Municipality 2 Complex / Difficult Land Ownership Constraints 2 Potential for New Venue to Spur Additional 4 Economic Development Total Score 81 3 4 4 4 4 4 5 1 4 4 3 5 3 3 4 3 4 5 5 1 5 4 4 4 3 5 4 3 3 5 3 1 4 3 3 2 4 2 5 1 1 4 2 1 1 1 3 2 2 4 3 2 3 4 5 4 5 3 4 3 4 5 3 3 4 5 5 5 5 5 5 4 3 2 4 4 3 5 3 5 5 5 4 3 4 5 2 2 5 2 2 3 3 5 3 4 5 4 80 77 75 71 partners Hunden.com e51-a7ca1ft4 Concept Plan - Convention Center & Hotel SECTION FLOOR 18 Q Q t STREET BALLROOM JR. BALLROOM i i 1 Y I HOTEL FLOORS FLOORS 4-17 PLAZA FLOOR 3 BALLROOM 0' 50' 100' 200' 500' T VS partners Hunden.com 171 Jgg@ilial II pj 111111 1: .waremet 1 I-1 1 : 1-1 FBI II Ans410141101* iliiijiNiffiui 111 I I1 Jaf, -1=•••• 1 III ¶1 ItliFutliNVI II H !J!!lliHHUIl Demand, Financial and Economic Impact Projections Page 139 of 154 Financial Analysis Overview Overview The financial analysis outlines major revenue and expense items for each asset type, based on Hunden's key inputs, which result in a net operating income (NOI). In order to assess the financial feasibility, the NOI is compared against a development cost. Hunden will then determine the supportable equity and debt based on a high-level per -unit cost estimate and identify any resulting feasibility gap specifically for the hotel development Inputs and Projections To project inputs such as occupancy, average daily rates, and event demand, Hunden utilizes data from Smith Travel Research, CoStar, and other relevant databases to assess local market averages and comparable property performance. Industry standards and the quality of the proposed development relative to the market are also considered to understand their influence on performance. Historical averages from similar convention centers further inform the project's performance projections. Feasibility Gaps Convention centers and adjacent hotel developments typically require significant public sector involvement due to their limited ability to generate private return on investment, particularly for the convention facility itself. Unlike most commercial or mixed -use projects, which can often be financed through private capital, these developments frequently face substantial feasibility gaps. This is due to high construction and land costs and limited revenue generation from public -use facilities. As a result, the total supportable financing - based on projected revenue and private market returns - is often well below the total development cost, necessitating public investment or subsidies to close the gap and make the project viable. partners Hunden.com es14QcW, 1$t 7 Pro Forma - Convention Center The accompanying table presents the operating pro forma for the recommended convention center development. College Station Convention Center Operating Proforma ($000s) even u es (+) Space Rental (+) Equipment Rental (+) Event Services Revenue (+) Food & Beverage, Net (+) Parking, Net Revenues Expenses Direct Expenses (-) Contract Services (-) Supplies (-) Other Direct Expenses (-) Direct Expense Indirect Expenses (-) General &Administrative (-) Employee Salaries (-) Employee Wages & Benefits (-) Marketing & Promotion (-) Utilities (-) Building Maintenance and Repair (-) Indirect Expense Gross Operating Profit Management Fee (-) Management Fee Fixed Charges (-) Other Expenses (-) Incentive Fee (-) Insurance (-) FF&E Reserve for Replacement (-) Fixed Expenses Net Operating Income(Deficit) Operating Margin Source Hunden Partners 2028 2029 2030 2031 2032 2037 2057 Year 1 Year 2 Year 3 Year 4 Year 5 Year 10 Year 30 $ 2,724 $ 3,088 $ 3,487 $ 3,985 $ 4,105 $ 4,758 $ 8,594 $ 82 $ 93 $ 105 $ 120 $ 123 $ 143 $ 258 $ 694 $ 787 $ 889 $ 1,016 $ 1,046 $ 1,213 $ 2,191 $ 1,507 $ 1,983 $ 2,556 $ 3,097 $ 3,097 $ 3,097 $ 3,097 $ 220 $ 292 $ 361 $ 456 $ 470 $ 545 $ 984 $ 5,227 $ 6,244 $ 7,397 $ 8,673 $ 8,841 $ 9,756 $15,123 $ 1,045 $ 1,249 $ 1,479 $ 1,735 $ 1,768 $ 1,951 $ 3,025 $ 1,202 $ 1,436 $ 1,701 $ 1,995 $ 2,033 $ 2,244 $ 3,478 $ 157 $ 187 $ 222 $ 260 $ 265 $ 293 $ 454 $ 2,404 $ 2,872 $ 3,403 $ 3,990 $ 4,067 $ 4,488 $ 6,957 $ 1,045 $ 937 $ 1,110 $ 1,301 $ 1,326 $ 1,463 $ 2,269 $ 1,314 $ 1,516 $ 1,656 $ 1,705 $ 1,756 $ 2,036 $ 3,677 $ 184 $ 212 $ 232 $ 239 $ 246 $ 285 $ 515 $ 523 $ 219 $ 259 $ 304 $ 309 $ 341 $ 529 $ 627 $ 749 $ 888 $ 1,041 $ 1,061 $ 1,171 $ 1,815 $ 679 $ 812 $ 962 $ 1,128 $ 1,149 $ 1,268 $ 1,966 $ 4,373 $ 4,444 $ 5,105 $ 5,717 $ 5,848 $ 6,565 $10,771 $ (1,550) $ (1,072) $ (1,111) $ (1,033) $ (1,074) $ (1,297) $ (2,604) $ 131 $ 156 $ 222 $ 260 $ 265 $ 293 $ 454 $ 33 $ 35 $ 40 $ 44 $ 45 $ 51 $ 85 $ 26 $ 31 $ 37 $ 43 $ 44 $ 49 $ 76 $ 52 $ 62 $ 74 $ 87 $ 88 $ 98 $ 151 $ 52 $ 62 $ 74 $ 87 $ 88 $ 98 $ 151 $ 164 $ 191 $ 225 $ 261 $ 266 $ 295 $ 463 $ (1,845) $ (1,420) $ (1,557) $ (1,554) $ (1,605) $ (1,884) $ (3,521) -35% -23/ -21/ -18% -18/ -19/ -23% Summary Year 1 Revenue = $5.2M Year 1 Expenses = $7M Year 1 Net Operating Income: ($1.8M) Year5 Net Operating Income: (1.6M) *Nominal dollars - future increases in operating deficits attributed to inflation (3% assumed) partners Hunden.com es141,ca1$t8 Event & Attendance Projections College Station Convention Center - Event Projections Year 1 Events by Type Year 2 Year 3 Yea r 4 Yea r 5 Year 10 Conference 9 10 11 12 12 12 Consumer Shows 19 21 23 25 25 25 Convention 25 28 31 34 34 34 Live Entertainment 5 5 5 6 6 6 Religious 7 8 9 10 10 10 Sporting 12 13 14 16 16 16 Trade Show 5 6 7 8 8 8 Meetings 33 37 41 45 45 45 Banquets 22 24 Total Events 137 152 Total Even Days 27 168 30 186 30 186 30 186 23 57 284 284 284 Upon stabilization in Year 4, the convention center is projected to host 186 events or a total of 284 event days annually. Annual attendance is projected to stabilize at 157,599 people. College Station Convention Center - Attendance Projections Attendance by Event Type Year Year Year Year Year Year 1 2 3 4 5 10 Conference 3,540 4,336 5,227 6,304 6,304 6,304 Consumer Shows 31,756 38,696 46,445 55,813 55,813 55,813 Convention 17,905 22,109 26,825 32,527 32,527 32,527 Live Entertainment 8,157 8,994 9,856 13,075 13,075 13,075 Religious 3,118 3,929 4,844 5,950 5,950 5,950 Sporting 7,400 8,838 10,430 13,179 13,179 13,179 Trade Show 3,683 4,873 6,230 7,872 7,872 7,872 Meetings 4,711 5,823 7,071 8,580 8,580 8,580 Banquets 7,851 9,442 1 1, 641 14,300 14,300 14,300 Total Attendance 88,121 107,041 128,569 157,599 157,599 157,599 J .1... partners Hunden.com es1-42ca1$t9 Pro Forma - 400-Key Hotel Summary Year 1 Revenue = $23.9M Departmental Expenses = $8.3M Year 1 Net Operating Income: $7.9 M Year5 Net Operating Income: $11.2 M Assumptions Year 1 ADR: Stabilized Occupancy: $209 71% Room Count Available Room Nights Occupancy Rate Occupied Room Nights Average Daily Rate RevPAR RevPAR % Ch. From Pnor Year (In $000s) REVENUE Room Revenue Food & Beverage Meetings Parking Other Operated Departments Total DEPARTMENTAL EXPENSES Rooms Food & Beverage Meetings Parking Other Operated Departments Total DEPARTMENTAL PROFIT UNDIST. OP. EXPENSES Administrative and General (excl. Operator) Information & Telecommunications Sales & Marketing (excl. Program Fee) Franchise Fee Utilities Property Operations and Maint. Total GROSS OPERATING PROFIT Management Fees Income Before Fixed Charges FIXED EXPENSES Property Taxes Insurance Reserve Total Net Operating Income Operating Margin Source: Hunden Partners Pro Forma College Station, TX 400-Key HQ Hotel 2028 Year1 400 146,000 56% 82,195 $ 209 $ $ 118 $ 2029 Year 2 40C 146,00C 63% 92,235 213 $ 135 $ 14 3% $ 17,196 $ 19,653 $ 2,055 $ 2,375 $ 4,014 $ 4,737 $ 259 $ 298 $ 470 $ 541 $ 23,994 $ 27,604 $ 3,800 $ 4,147 $ 1,377 $ 1,568 $ 2,689 $ 3,127 $ 28 $ 31 $ 405 $ 463 $ 8,300 $ 9,335 S 15.694 S 18.269 $ 1,776 $ 1,988 $ 475 $ 494 $ 1,704 $ 1,905 $ 840 $ 966 $ 216 $ 193 $ 264 $ 359 $ 5,274 $ 5,905 $ 10,421 $ 12,365 2030 2031 2032 Year3 Year4 Year5 40C 40C 40C 146,00C 146,00C 146,00C 69% 71% 71% 100,043 103, 065 103,065 217 $ 221 $ 225 149 $ 156 $ 159 10.5% 4.9% 1.9% $ 21,713 $ $ 2,653 $ $ 5,318 $ $ 331 $ $ 600 $ $ 30,616 $ $ 4,364 $ $ 1,725 $ $ 3,457 $ $ 33 $ $ 510 $ $ 10,089 $ S 20.527 $ $ 2,143 $ 490 $ 2,051 $ 1,072 $ 153 $ 459 $ 6,368 $ 14,159 $ 960 $ 1,104 $ 1,225 $ 9.461 $ 11,261 $ 12,934 $ 193 $ 596 $ 400 $ 412 $ 960 $ 1,104 $ 1,553 $ 2,112 695 424 1,225 2,344 $ 7,908 $ 9,149 $ 10,590 33% 33% 35% 22,787 $ 2,816 $ 5,553 $ 350 $ 630 $ 32,136 $ 4,580 1,830 3,610 35 536 10,591 21.545 $ 2,250 $ 514 $ 2,153 $ 1,125 $ 161 $ 482 $ 6,684 $ 14,861 $ 1,285 $ 13.576 842 437 1,285 2,565 $ 11,011 34% 23,216 2,900 5,577 358 641 32,692 $ 4,666 $ 1,885 $ 3,625 $ 36 $ 545 $ , $ 21.9310757 5 $ 2,288 $ 523 $ 2,190 $ 1,144 $ 163 $ 490 $ 6,800 $ 15,135 $ 1,308 $ 13.827 868 450 1,308 2,626 $ 11,202 34% 2037 Year 10 40C 146,00C 71% 103,065, $ 248 $ 175 1.9% $ 25,519 $ 3,362 $ 5,705 $ 405 $ 700 $ 35,692 $ 5,129 $ 2,185 $ 3,708 $ 41 $ 595 $ 11,658 S 24.033 I $ 2,498 $ 571 $ 2,391 $ 1,249 $ 178 $ 535 $ 7,424 $ 16,609 $ 1,428 $ 15.182 $ 1,006 $ 522 $ 1,428 $ 2,956 $ 12,226 34° partners Hunden.com uy.,�l Hotel Supportable Financing Construction Cost: $179.9 M Equity Contribution: $23.8M Debt: Total Financing: $84.3M $108.1M Funding Gap: $(71.8M) Year Unleveraged Cash Flow Discounted Cash Flow Analysis ($000s) College Station, TX 1400-Key HQ Hotel Construction Constr. Yr1 Constr. Yr2 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 $0 $0 $7,908 $9,149 $10,590 $11,011 $11,202 $11,397 $11,597 $11,802 $12,012 $12,226 (Discount Rate (WACC) 8.5 1 (Present Value Summary ($000s) 5 Year 10 Year PV Residual $77,174 $56,044 PV Income Stream $32,928 $59,161 Present Value $110,102 $115,205 Present Value Per Unit ($) $275,256 $288,012 Est. Cost Per Room ($) $449,750 $449,75C Total Supportable Private Financing $108,100 Est. Construction Cost (Excl. Parking) (Funding Gap ($) Assumptions: Equity Contribution Debt Assumptions Discount Rate / WACC 7-Year Unleveraged Return* 12-Year Unleveraged Return* 12-Year Leveraged Return* IRR 12.3% 11.4% 20.1% $179,900 ($71.800) 40% Tara. Return 22.00% L1200% 78.00% 7.50% Year 5 Net CF Terminal Cap Rate Year 5 Residual Value -) Closing Costs (2.5%) Net Reversion Proceeds $11,202 8.0% $140,022 $3,501 $136,521 $ (27,025) $ (81,075) $7,908 $9,149 $10,590 $11,011 $ (27,025) $ (81,075) $7,908 $9,149 $10,590 $11,011 $ (5,945) $ (17,836) $344 $1,585 $3,026 $3,963 $147, 723 *Assumes 25% draw in Construction Year 1; 75% average during Construction Year 2 Source Hunden Partners Year 10 Net CF Terminal Cap Rate Year 10 Residual Value (-) Closing Costs (2.5%) Net Reversion Proceeds $12,226 8.0% $152,827 $3,821 $149, 006 $11,202 $11,397 $11,597 $11,802 $12,01 $4,154 $4,350 $4,550 $4,755 $4 96 2 4 $161,232 $84,556 partners Hunden.com es 144 1$41 J_I1r. Introduction to Impacts Hunden uses the IMPLAN input-output multiplier model, which determines the level of additional activity in the economy due to additional inputs. For example, for every dollar of direct new spending, the IMPLAN model provides multipliers for the indirect and induced spending that will result. The net new and recaptured direct spending, both on -site and off -site due to meetings and events and/or hotel stays is considered to be the Direct Impact. From the direct spending figures, further impact analyses will be completed. • Indirect Impacts are the supply of goods and services resulting from the initial direct spending. For example, a visitor's direct expenditure on food & beverage causes a convention center or hotel to purchase food & beverage and other items from suppliers. These are considered indirect economic impacts. • Induced Impacts embody the change in spending due to the personal expenditures by employees whose incomes are affected by direct and indirect spending. For example, a waitress at a restaurant may have more personal income as a result of the induced customer's visit. The amount of the increased income that the employee spends in the area is considered an induced impact. ■ Net New Gross Spending refers to the total economic impact generated by a development project or event, which combines direct, indirect, and induced impacts. ■ Fiscal Impacts represent the incremental tax revenue collected due to the net new economic activity. The fiscal impact represents the government's share of total economic benefit. ■ Employment Impacts include the incremental employment provided not only onsite, but due to the spending associated with it. For example, the direct, indirect, and induced impacts generate spending, support new and ongoing businesses, and ultimately result in ongoing employment for citizens. Hunden will show the number of new jobs supported by the Project and provide the resulting income generated. tpartners Hunden.com e5145ca1$42 Net New Economic Impact to City of College Station Total Net New Spending: $2,8B Net New Earnings: $431.3M Net New Annual Jobs: 222 (avg.) Net New Gross Spending to College Station, TX ($000s) - Convention Center - HQ Hotel 2028 Net New Gross Spending Year 1 Food & Beverage $ 11,149 $ Lodging $ 4,661 $ Retail $ 1,091 $ Transportation $ 1,223 $ Other $ 1,318 $ Tickets $ - $ Total $19,442 $ 29,381 Direct Indirect Induced Total 2029 Year 2 13,695 10,768 1,486 1,863 1,568 2030 2031 2032 Year 3 Year 4 Year 5 $ 16,472 $ 18,774 $ 18,950 $ 16,153 $ 18,045 $ 18,422 $ 1,897 $ 2,204 $ 2,264 $ 2,506 $ 2,994 $ 3,083 $ 1,835 $ 1,838 $ 1,866 $ 38,863 $43,855 $ 44,585 2037 Year 10 19,917 $ 20,455 $ 2,593 $ 3,567 $ 2,020 $ 48,552 $ 2047 2057 Year 20 Year 30 Total Average 22,336 $ 25,587 $ 628,968 $ 20,966 26,438 $ 34,183 $ 707,664 $ 23,589 3,461 $ 4,627 $ 92,468 $ 3,082 4,774 $ 6,389 $ 126,758 $ 4,225 2,407 $ 2,927 $ 67,244 $ 2,241 $ $ - $ 59,415 $ 73,713 $ 1,623,102 $ 54,103 Net New Direct, Indirect & Induced Spending to College Station, TX ($000s) - Convention Center - HQ Hotel Source Hunden Partners Year 1 Year 2 Year 3 Year 4 Year 5 Year 10 Year 20 Year 30 $ 19,442 $ 29,381 $ 38,863 $ 43,855 $ 44,585 $ 48,552 $ 59,415 $ 73,713 $ 8,330 $ 12,664 $ 16,781 $ 18,904 $ 19,205 $ 20,838 $ 25,345 $ 31,263 $ 6,049 $ 9,178 $ 12,158 $ 13,716 $ 13,941 $ 15,165 $ 18,518 $ 22,928 $33,821 $ 51,224 $ 67,803 $76,474 $ 77,731 $ 84,555 $ 103,278 $ 127,904 Total $ 1,623,102 $ 693,540 $ 506,127 $ 2,822,770 Average $ 54,103 $ 23,118 $ 16,871 $ 94,092 Net New Earnings & FTE Jobs from Direct, Indirect & Induced Spending ($000s) - Convention Center - HQ Hotel Earnings - Residents Onsite Office Jobs From Direct From Indirect From Induced Total FTE Jobs- Residents Onsite Office Jobs From Direct From Indirect From Induced Total Source Hunden Partners Year 1 Year 2 Year 3 Year 4 Year 5 Year 10 Year 20 Year 30 2,936 1,259 957 5,152 0 90 19 17 126 $ $ - $ - $ - $ - $ - $ 4,446 $ 5,886 $ 6,648 $ 6,760 $ 7,369 $ 9,028 $ 1,912 $ 2,533 $ 2,853 $ 2,899 $ 3,146 $ 3,828 $ 1,452 $ 1,923 $ 2,170 $ 2,206 $ 2,399 $ 2,930 $ 7,810 $ 10,343 $11,671 $ 11,865 $ 12,914 $ 15,786 0 134 27 24 185 0 0 172 188 35 39 31 34 239 261 0 185 38 34 257 0 174 36 32 241 11,213 4,723 3,627 19,564 0 0 157 32 29 218 144 30 27 201 Total Average $ 246,516 $ 104,741 $ 80,070 $ 431,327 Max 0 188 39 34 261 8,217 3,491 2,669 $ 14,378 Average 0 160 33 29 222 h partners Hunden.com o51-4,ddW,1$43 Net New Tax Revenue to City of College Station Sales Tax: $24.5M Hotel Tax: $49.5M Property Tax: $9.6M Year 1 ‘''' CITY OF COLLEGE STATION Home of Texas A&M University® Taxes Generated to the City of College Station ($000s) Year 2 Year 3 Year 4 Year 5 Year 10 Year 20 Year 30 Local Taxes Sales Tax (1.5%) $ 292 $ 441 $ 583 $ 658 $ 669 $ 728 $ 891 $ 1,106 Hotel Tax (7%) $ 326 $ 754 $ 1,131 $ 1,263 $ 1,290 $ 1,432 $ 1,851 $ 2,393 Property Tax $ 52 $ 160 $ 187 $ 227 $ 233 $ 271 $ 364 $ 489 Total $ 670 $ 1,355 $ 1,901 $ 2,148 Source: Hunden Partners $ 2,192 $ 2,431 $ 3,106 $ 3,987 Total $ 24,457 $ 49,536 $ 9,625 $ 83,618 Average $ 812 $ 1,651 $ 321 $ 2,784 hunden partners Hunden.com es147cQ#,1$44 Combined Net New Tax Revenue to State, County and City Combined Taxes Generated to the State, County, and City ($000s) Year 1 Year 2 Year 3 Year 4 Year 5 Year 10 Year 20 Year 30 Combined State, County, and City Sales Tax (8.25%) $ 1,604 $ 2,424 $ 3,206 $ 3,618 $ 3,678 $ 4,006 $ 4,902 $ 6,081 State (6.25%) $ 1,215 $ 1,836 $ 2,429 $ 2,741 $ 2,787 $ 3,035 $ 3,713 $ 4,607 County(0.50%) $ 97 $ 147 $ 194 $ 219 $ 223 $ 243 $ 297 $ 369 City(1.5%) $ 292 $ 441 $ 583 $ 658 $ 669 $ 728 $ 891 $ 1,106 Hotel Tax (15.75%) $ 734 $ 1,696 $ 2,544 $ 2,842 $ 2,901 $ 3,222 $ 4,164 $ 5,384 State (6%) $ 280 $ 646 $ 969 $ 1,083 $ 1,105 $ 1,227 $ 1,586 $ 2,051 County (2.75%) $ 128 $ 296 $ 444 $ 496 $ 507 $ 563 $ 727 $ 940 City(7%) $ 326 $ 754 $ 1,131 $ 1,263 $ 1,290 $ 1,432 $ 1,851 $ 2,393 Property Tax $ 193 $ 596 $ 695 $ 842 $ 868 $ 1,006 $ 1,352 $ 1,817 Total $ 2,531 I $ 4,715 I $ 6,446 I $ 7,303 I $ 7,447 1 $ 8,233 I $ 10,418 I $ 13,282 Source: Hunden Partners Sales Tax: $133.9M Hotel Tax: $111.5M Total $ 133,906 $ 101,444 $ 8,116 $ 24,347 $ 111,457 $ 42,460 $ 19,461 $ 49,536 $ 35,780 $ 281,143 Average $ 4,464 $ 3,381 $ 271 $ 812 $ 3,715 $ 1,415 $ 649 $ 1,651 $ 1,193 $ 9,371 Property Tax: $35.8M hunden partners Hunden.com es1 ca 445 Texas Convention Center Funding Examples KAY BAILEY HUTCHISON CONVENTION CENTER Location: Dallas, TX Estimated Cost: $3.7 Billion Funding Streams: 2% increase in the HOT used for the convention center and related tourism infrastructure - estimated $1.5 Billion over 30 years Retain incremental state HOT, sales, and mixed beverage taxes through a PFZ - estimated $2.2 billion over 30 years $1 Billion bridge loan from JPMorgan Chase to enable immediate progress AUSTIN CONVENTION CENTER Location: Austin, TX Estimated Cost: $1.6 Billion Funding Streams: 2% increase in the HOT used for the convention center expansion Retain incremental state HOT, sales, and mixed beverage taxes through a PFZ Convention Center revenues from operations (e.g., rental fees, exhibitor services) are being reinvested to support the expansion IRVING CONVENTION CENTER Location: Irving, TX Estimated Cost: $133 Million Funding Streams: The City issued a HOT Revenue Certificates of Obligation for $126M 2% Hotel Occupancy Tax authorized by the Irving City Council to entirely repay City bonds The Irving Convention and Visitors Bureau Operating Budget covers all the capital needs of the facility. Facility revenues and the Irving Convention and Visitors Bureau Operating Budget cover all the operating needs of the facility partners Hunden.com 55149cf 1$46 Other Funding Examples MAYO CIVIC CENTER Location: Rochester, MN Estimated Cost: $85 Million Expansion Funding Streams: 3% increase in the HOT used for the debt service contributions - estimated to fund the remaining costs $35-37 million in Minnesota state bonding for planning and construction costs MANHATTAN CONFERENCE CENTER Location: Manhattan, KS Estimated Cost: $178 Million Funding Streams: $50 million in State Tax and Revenue (STAR) bonds A 0.5 percent local sales tax levied via two Transportation Development Districts (TDDs) generated approximately $7 million ATIF district generated approximately $25 million in incremental property and city sales tax revenue Private Developer (Dial Realty/HCW) Invested $87 million for all the retail The City contributed an additional $35.7 million (20% of project costs) TUCSON CONVENTION CENTER Location: Tucson, AZ Estimated Cost: $122 Million over 8 years Funding Streams: Rio Nuevo TIF contributing roughly $70M for the TCC renovation and campus -wide improvements Rio Nuevo District issued $38M in bonds The City issued $20M in general obligation bonds (16% of project costs), contributing to renovation funding and related infrastructure partners Hunden.com 051-50c 1$47 Impact of Funding Mechanisms Convention Center f J I.1 _f i IMPLEMENTABLE FUNDING MECHANISMS As shown by these examples, cities leverage multiple sources of state and local tax revenues to deliver convention center projects which limits risk and overall city debt obligations. PFZ - State incremental HOT revenues of hotels within a 3-mile radius Raise 7% local HOT to 9% - Value of the 2% increase has the potential of funding a significant portion of the Project partners Estimated Contribution $298.9M Convention Center Capital Cost (Inclusive of Parking, Escalation & Contingences) State & Other Sources City Sources Informed by the assessment of comparable convention center projects and the potential for state taxes to be leverage for upfront capital. Hunden.com 100% 75% 50% 25% 0% es1-51,ca1$48 Impact of Funding Mechanisms Headquarter Hotel IMPLEMENTABLE FUNDING MECHANISMS Large convention hotels are commonly public - private projects, requiring creative funding packages. HB 4347 - 10-Year rebate of state sales, HOT, & mixed -beverage for a qualified hotel project (QHP) Hotel Generated Tax Revenues - City HOT, sales, and property tax TI F/TI RZ 501 c(3) Tax Exempt Bond Approach - (Westin Irving & others) Estimated Contribution $206.8M Hotel Capital Cost (Inclusive of Escalation & Contingencies) Project Generated Taxes & Other Sources Private Capital Informed by recent P3 hotel projects, there are several viable strategies for structuring and delivering the hotel development. 100% 75% 50% 25% 0.00% J partners Hunden.com es1- 2 1$49 hunden partners 213 W. Institute Place, Suite 707 Chicago, I L 60610 312.643.2500 hunden.com September 29, 2025 Item No. 2.2. Legends Global Sponsor: Bryan Woods, City Manager Reviewed By CBC: City Council Agenda Caption: Presentation and discussion regarding potential opportunities for a multi -event center. Relationship to Strategic Goals: Diverse and Growing Economy Recommendation(s): For the City Council to provide direction on potential next steps. Summary: Legends Global (https://legendsglobal.com/) will provide a presentation to the City Council outlining their business model and exploring potential opportunities for a multi -event center in College Station. This presentation will provide the City Council with an opportunity to learn about possible approaches to a convention or multi -use facility and to engage in discussion regarding future possibilities for such a project. Budget & Financial Summary: N/A Attachments: None Page 154 of 154