CVB Special Board Meeting


Return to the Agenda
  12.       
Meeting Date: 03/18/2020  

SUBJECT MATTER:
Receive, consider and act upon an Agreement with World Triathlon Corporation regarding its Texas IRONMAN event;
BACKGROUND:
In 2010, The Woodlands Township and The Woodlands Convention and Visitors Bureau (now Visit The Woodlands) entered into a five-year agreement with the World Triathlon Corporation (WTC) to host the Memorial Hermann IRONMAN Texas. The Agreement has been amended on three occasions to address market changes including the extension of another five (5) years after the first five (5) years. The IRONMAN event has proved to be a very successful and attractive major event in The Woodlands, drawing thousands of athletes and spectators from around the world.
 
WTC has one year remaining in the Agreement with The Woodlands Township and Visit The Woodlands, scheduled to take place Saturday, April 25, 2020. WTC has asked if Visit The Woodlands has interest in extending the term for another five (5) years. WTC points out the following information and benefts of the event in The Woodlands and Montgomery County area:
 
  •  The IRONMAN Triathlon consists of a 2.4-mile swim, a 112-mile bike and a 26.2-mile run completed in succession within a 17-hour timeframe.
  • Provides an opportunity for residents of The Woodlands and Montgomery County to see some of the greatest endurance athletes in the world.
  • The Woodlands is attractive to WTC as the venue for this premier event as The Woodlands is known as a world class community – home to hundreds if not thousands of world class athletes that welcomes the opportunity to host and participate in such a renowned event such as Ironman.
  • There are thousands of volunteer opportunities for residents of the entire region to participate in the event and Ironman has been providing over $100,000 annually to local charities.
  • The event serves as one of 23 global qualifying races for the Ford IRONMAN World Championship that takes place each October in Kailua-Kona, Hawaii.
  • Throughout its 40-year history, IRONMAN has transformed from an event into a lifestyle and sports brand that continues to inspire millions each year to take on new personal challenges and demonstrate the mantra, “Anything Is Possible.”
  • IRONMAN Triathlon attracts 2,800 participants from nearly all 50 states and 25+ countries.
  • Live webcast creating 1.5 million in advertising impressions for The Woodlands on a global scale. Create an economic impact in millions of dollars a year through the sale of thousands of hotel room nights, retail shopping, food and beverage dinners and sales. See attached 2019 Economic Impact report.

Venues for the IRONMAN event in The Woodlands includes Northshore Park, Lake Woodlands, The Woodlands Waterway, Town Green Park, Waterway Square, The Woodlands Waterway Marriott Hotel & Convention Center and numerous restaurants and retail shops. Hotels throughout Montgomery County and even into Harris County are used by athletes, families, spectators, vendors, media and volunteers.
RECOMMENDATION
To be determined by the Board of Directors.

Attachments
4th Amendment to World Triathlon Corp. Sponsorship Agreement


    

Level double AA conformance,
                W3C WAI Web Content Accessibility Guidelines 2.0

AgendaQuick ©2005 - 2020 Destiny Software Inc. All Rights Reserved.