Bob Hope Chrysler Classic Boon to Charities and Region
(PRWEB) February 16, 2001
FOR IMMEDIATE RELEASE: FINAL Contact: Jennifer Liebrum
February 10, 2001 (760) 340-9300
Bob Hope Chrysler Classic
Boon to Economy Year Round
(Rancho Mirage, CA.) As the kick-off of one of the ValleyÂs most revered tournaments approaches, organizers of the Bob Hope Chrysler Classic have released the official results of a study it commissioned to evaluate the actual economic impact of its 42-year-old tournament.
After years of evaluating its contributions to local charities Â more than $34 million to date -- the Classic hired Sports Management Research Institute of Weston, Florida to find out how broad its economic reach actually is.
What they found is that the Classic has literally brought hundreds of millions into the area. Based first on an economic impact survey of 626 spectators in 1999 and a subsequent marketing study in 2000, researchers determined that the one-week event generated $32 million in accommodations, meals, merchandise, entertainment, transportation and other purchases. Organizers project spending at this weekÂs tournament to reach $35 million, as spectator numbers swell to more than 120,000.
More significant is the finding that the impact resonates throughout the year as 55 percent of the attendees visited the region specifically for the Classic. In fact, roughly 11 percent of those visitors surveyed in 1999 said they likely would consider moving to the Valley to reside, bringing their average household incomes of between $100,000 and $300,000. The Valley also benefits from the televised broadcast that reaches millions of homes nationwide.
"The true measure of economic impact is not so much the direct financial number generated by the event, but being able to demonstrate the long term benefit of the event," said Kathleen Davis, Ph. D., the lead researcher for Sports Management Research Institute. "Bringing people to the event is one thing, but the Bob Hope Chrysler Classic has truly created the perfect marriage by producing an excellent and memorable event in an alluring setting."
Hope economic boon continued: page 2
Davis hypothesized that some of the organizations that started events here in recent years likely were inspired having witnessed the HopeÂs success on television or through their attendance.
Classic Director Bob Brennan agreed, calling the tournament, "A significant driver of economic growth in the Valley. It is the standard bearer for all the other events that have followed."
Based on her research and overall knowledge of similar events, "The tradition of Bob Hope though remains unmatched," Davis said.
Tournament Chairman Bill Powers agreed.
"We quietly pride ourselves on the success of our tournament every year but it is heartwarming to see in real numbers the economic influence we share with the Coachella Valley," Powers said. "We have been and always will remain dedicated to maintaining our high standards so that the Bob Hope Chrysler Classic is always a healthy contributor to the community."
About the Classic:
For each of the last 20 years, the Classic has generated more than $1 million for Eisenhower Medical Center and 40 other local charities. With its total contributions at more than $34 million, the tournament ranks among the most successful charitable events on the professional tour.
The 42nd Annual Bob Hope Chrysler Classic is February 12-18 with a must-see rivalry between former defending champion David Duval and last year's winner Jesper Parnevik. Adding to the talent at this year's tournament are Arnold Palmer, Fred Couples and Justin Leonard. Celebrities Emmitt Smith, Roger Clemens, Rush Limbaugh, Joe Pesci, Junior Seau, and Troy Aikman round out the mix.
The Classic hosts 128 pros, 384 amateurs and this year will be held on the Arnold Palmer Private Course at PGA WEST, the Bermuda Dunes Country Club, Indian Wells Country Club and La Quinta Country Club. This yearÂs winner will receive $630,000 with prize money totaling $3,500,000.
Tickets are available now at the Classic office by calling 1-888-M-R-B-Hope or can be purchased on the Web at www. bhcc. com or at the gate. For more Classic information visit the ClassicÂs Web site at www. bhcc. com or call (760) 346-8184.
MEDIA FACT SHEET
Bob Hope Chrysler ClassicÂs Economic Impact
on the Coachella Valley
FOR: Media Background-FINAL Contact: Jennifer Liebrum
February 10, 2001 (760) 340-9300
Introduction: Long before a tennis garden had been dreamed of, or a six-week horse show became a reality, the Bob Hope Chrysler Classic was creating a road map for ventures to come to the Coachella Valley with their multi-million dollar exhibitions.
The Classic was built for and through charity, remaining the largest, single-event infuser charitable funds into the Coachella Valley to date. Less known, perhaps, is that it also was the first event to have a profound economic impact, on the Valley, setting the standard and acting as a magnet for those to come.
Facts at a glance: At the close of the 1998 tournament, Classic organizers decided they wanted to see exactly how much its tournament contributes to the community in addition to the charitable good works. The highly regarded Sports Management Research Institute of Weston, Florida was commissioned to collect the necessary data, beginning with the 1999 tournament.
What the Institute found was that the one-week event encouraged $32 million in spending for accommodations, meals, merchandise, entertainment, transportation and other purchases.
Of the more than 100,000 spectators in 1999, for example, 55 percent were non-Valley residents who came here just for the event. They spent roughly four days and spent nearly $334 per day to be here. More than a third of the attendees enjoy annual household incomes between $100,000 and $300,000, a level reserved for Super Bowls and the U. S. Tennis Opens.
A subsequent market evaluation in 2000 found that the event is fairly gender-balanced with men slightly outnumbering women 55.5 percent to 44.5 percent. The majority of attendees were 50-79, with the 60-69 group comprising 32.6 percent of the total. Eighty-one percent said they would return to the tournament.
Bob Hope Chrysler Classic Economic Impact Fact Sheet continued: page 2
And, researchers found, the economic impact resonates through the Valley year-around. A total of 60 percent of those surveyed reported an "enhanced impression" of the Valley and 11 percent said they would come back to live here.
A total of 32 states and Canada were represented among the spectators. The top five locales were California, Canada, Washington, Oregon and Michigan, followed by Arizona, Illinois, Utah, Florida, Idaho, Minnesota, Missouri, Montana and Colorado.
Future plans: In order to maintain future supporters, the tournament is evaluating a marketing plan aimed at the under-40 demographic.
Bob Brennan, Tournament Chairman (760) 346-8184
Ernie Dunlevie, founding member and former Tournament Chairman (760) 346-8184
Kathleen Davis, Ph. D., lead researcher, Sports Management Research Institute in Weston, Florida (954) 389-9095.