Hospitality Association Presentation

1. WHAT’S HAPPENING IN
PALM SPRINGS? (PSSST….IT’S GOOD)
Presentation to the Palm Springs Hospitality
Association
May 19, 2011

2. I FOCUS ON DEVELOPMENT
PROJECTS, NOT PROGRAMS
Hotels
Shopping Centers/Other Retail
Residential Development/Mixed Use Projects
Public Projects
Downtown

3. RECENT HOTEL PROJECTS
Riviera/Renaissance/Hyatt/Riviera
Hard Rock/Mondrian
Los Arboles (Indian Manor)

4. RIVIERA RENOVATION

5. RENAISSANCE/HYATT RENOVATIONS
Renaissance Hyatt

6. HARD ROCK HOTEL

7. MONDRIAN

8. LOS ARBOLES (INDIAN MANOR)

9. LOS ARBOLES

10. NET RESULT – TOT IS UP!
Fiscal Year Fiscal Year Fiscal Year Fiscal Year 09/10 v. 10/11
Month 2007-08 2008-09 2009-10 2010-11 % Change
July $ 693,328 $ 727,810 $ 681,421 $ 893,586 31.14%
August 799,308 790,148 627,625 715,061 13.93%
September 840,200 741,931 708,714 835,392 17.87%
October 1,142,584 957,351 1,084,333 1,074,067 (0.95%)
November 1,344,172 1,108,968 1,151,258 1,162,232 0.95%
December 1,010,671 800,528 790,820 966,193 22.18%
January 1,335,151 1,092,858 1,137,727 1,307,064 14.88%
February 1,622,198 1,277,158 1,377,860 1,550,262 12.51%
March 2,081,218 1,622,398 1,808,229
April 1,670,021 1,773,237 1,952,692
May 1,218,972 1,118,319 1,268,493
June 708,657 740,772 778,513
$ 14,466,480 $ 12,751,478 $13,367,685 $ 8,503,857 12.49%

11. OVERALL REVENUE PICTURE
Total Property Sales
Revenues Revenues Taxes TOT * UUT Taxes
09-10 9 Months $38,790,476 $10,269,044 $7,559,758 $4,341,688 $5,022,204
10-11 9 Months $40,433,885 $9,393,210 $8,503,857 $4,811,318 $5,430,699
09-10 Actuals $65,791,021 $17,803,811 $13,367,685 $6,575,901 $8,221,763
10-11 Projected $66,623,839 $17,043,345 $14,300,000 $6,525,000 $8,540,000
* TOT reflects only 8 months of revenue

12. SHOPPING CENTERS/SALES TAX
Smoketree Commons/Smoketree Village
The Springs/Gene Autry Retail Center
New Rite Aid/Palm Springs Mall
Mercedes Benz Expansion

13. SMOKETREE COMMONS

14. SMOKETREE COMMONS

15. THE SPRINGS

16. THE SPRINGS

17. RITE AID/OTHER RETAIL

18. PALM SPRINGS MALL

19. MERCEDES BENZ EXPANSION

20. OVERALL - SALES TAX RETURNING TO PS!
 Comparisons: 09-10 10-11 3Qs
 Palm Springs ↓ –2.4% ↑ +7.9%
 Coachella Valley ↓ –10.9% ↑ +5.3%
 Riverside County ↓ –10.8% ↑ +5.2%
 Inland Empire ↓ –10.9% ↑ +5.2%
 Southern California ↓ –10.9% ↑ +5.4%
 State of California ↓ –11.0% ↑ +5.8%

21. RESIDENTIAL DEVELOPMENT
Standing inventory (Tangerine, Palermo, Palomino)
Escena – course and clubhouse open, building homes
The Morrison under construction and selling
Affordable housing projects in the pipeline

22. ESCENA CLUBHOUSE

23. THE MORRISON – UNDER CONSTRUCTION

24. ROSA GARDENS

25. SUNSET PALMS

26. MIXED USE PROJECTS
Port Lawrence
The Palm Canyon (Ramon/SPC)
The Cameron Center (Mesquite/SPC)
Art Colony (Racquet Club/NPC)
Desert Fashion Plaza

27. PORT LAWRENCE

28. THE PALM CANYON

29. PUBLIC PROJECTS
College of the Desert Campus
iHub/CVEP Headquarters
Animal Shelter
School District Maintenance Facility
Jackie Lee Houston Plaza

30. COLLEGE OF THE DESERT CAMPUS

31. COACHELLA VALLEY INNOVATION HUB

32. CVEP/IHUB HEADQUARTERS

33. JACKIE LEE HOUSTON PLAZA

34. DOWNTOWN AND UPTOWN
Vacancy Reduced/Occupancy Up
Recent New Restaurants and upcoming: Lulu California Bistro
Growth and Success of Uptown, Entry Corridor: Dink’s, Blue Pear,
Dickie O’Neal’s, Toucan’s
City/Agency helped over 100 façade improvements and interior
remodels

35. NEW-RECENT-RENOVATED RESTAURANTS
 Dink’s  Grind Brgr Bar
 Dickie O’Neal’s  Rio Azul
 Blue Pear  Bill’s Pizza
 Cowboy Way  Café Zini Med
 Trio  Cielo Coffee
 El Mirasol  Johnny Costa’s
 Birba  Woody’s Burgers

36. NEW RESTAURANTS

37. LULU CALIFORNIA BISTRO

38. UPTOWN PALM SPRINGS

39. UPTOWN RENOVATION – EL PASEO BUILDING

40. DESERT FASHION PLAZA
Community Design Workshops
Development Agreement to Planning Commission/Council
Project Financing Agreement/Ballot Measure to Council in
June

41. DESERT FASHION PLAZA
 Plan includes elements that came out of the
Community Design Workshops:
 East-west connections/mountain views
 Open space/courtyards
 Museum expansion site
 Movie theaters
 Other entertainment uses
 Class A retail
 Other cultural uses

42. COMMUNITY DESIGN WORKSHOPS

43. COMMUNITY DESIGN WORKSHOPS

44. CONCEPTUAL PLAN