Tourism is vital to the Los Angeles economy. In 2011, LA County welcomed over 40 million visitors who spent more than $15 billion. Recently the Los Angeles Tourism & Convention Board secured a new funding source through the formation of the Tourism Marketing District. This new funding increased LA Tourism’s annual marketing budget by nearly 50%.
In preparation for this expanded budget, Coraggio was hired to lead its three-year strategic planning process to help LA Tourism executives and Board of Directors determine the best use for the new funds. The Board faced the daunting task of constructing a strategic plan that benefitted the many various neighborhoods it assists – from the surf and sand of beach communities to the shops and movie studios of the San Fernando Valley.
As a precursor to the planning work, Coraggio conducted a comprehensive organizational assessment that included key external stakeholders (elected officials, business & civic leaders) throughout Los Angeles. We extracted critical insight that has been integral in setting LA Tourism on a new strategic path. In addition, we made specific recommendations for restructuring aspects of the organization, based on our assessment, in order to ensure LA Tourism was organized to consistently deliver on its business objectives.
Our work centered around building a plan that would aid the Board in guiding the development of physical aspects of the destination (for example, evaluating the benefits of expanding the convention center and exploring the construction of a professional football stadium) that would best serve the overall tourism strategy.
“ Coraggio made a significant impact on our business. Their assessment work revealed needed insight in order for us to make critical decisions on how to best organize our operation, serve our mission and meet our many stakeholders’ expectations. They helped prepare us for a successful launch of our TMD, which involved many stakeholders with a variety of needs and expectations. ”
— Mark Liberman, Former CEO
Last year the global travel and tourism sector contributed nearly $9 million to the global economy and grew 3.9%. For… Read More
The goal of any business, regardless of size, is to constantly grow to the next level. For this to happen,… Read More