The Woodlands Real Estate Blog

The Town Center Improvement District is trying to determine how tourism dollars affect the local economy through a financial analysis.

The TCID is paying The Perryman Group $35,000 for the study.
""We wanted to understand the impact of tourism,"" said Nick Wolda, vice president of marketing and public affairs for the TCID. ""How many times does a dollar turn over in a community?"" Wolda said the study will be used by the district's marketing and public affairs office and The Woodlands Convention and Visitors Bureau, which he heads.

The findings might be used by Realtors, the South Montgomery County Woodlands Economic Development Partnership and the state's tourism office.
According to the U.S. Department of Labor, tourism accounts for one out of every 12 jobs in Texas.

One local hotelier told TCID board members the meeting and lodging place is so popular, some events will spill out into the foyer during the upcoming holiday season. Fred Domenick, general manager of The Woodlands Waterway Marriott Hotel and Convention Center, gave a presentation highlighting the growth in popularity of the meeting and lodging space.

Food and beverage revenue is expected to grow by 5.4 percent and hotel revenue is expected to grow by 7 percent in 2008, he said. Chevron, Administaff and the Texas Society of Association Executives are among the businesses and organizations the Marriott has booked in the final months of 2007.

""We are in the top 15-20 percent of our brand,"" Domenick said. ""For a five-year hotel, that is a great accomplishment."" Ed Robb, a TCID board member, said the district took a ""calculated risk"" taking out bonds that are being repaid through hotel occupancy taxes for the Marriott. ""It makes me feel good to see what was a risk early on come to fruition,"" Robb said.