Latest / Bloomberg Intelligence / Florida Citrus Sports' Hogan: Pro Bowl Coming to Orlando(Audio)

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Florida Citrus Sports' Hogan: Pro Bowl Coming to Orlando(Audio) · Bloomberg Intelligence

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  Speaker 1: at the Higher Regency in Orlando, more than two thousand
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  Speaker 1: investment advisors and r i a s from across the country.
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  Speaker 1: A big story in Orlando in the last month or
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  Speaker 1: so is unfolding before our eyes. It turns out that
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  Speaker 1: the city in this country that draws more tourists than
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  Speaker 1: any other destination has landed the NFL's Pro Bowl, trying
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  Speaker 1: to make Orlando a major player in the competition of
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  Speaker 1: the biggest sporting events. So does this mean that you
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  Speaker 1: take the kids to Disney World and watch a Pro Bowl.
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  Speaker 1: Let's put that question to Steve Hogan. He's CEO Florida
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  Speaker 1: Citrus Sports based here in Orlando and a driving force
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  Speaker 1: behind this very important change. Steve, welcome, Thank you for
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  Speaker 1: having me. So what is going to be Uh what
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  Speaker 1: is this going to mean for Orlando? And what did
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  Speaker 1: you have to do to get the Pro Bowl here? Well?
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  Speaker 1: I hope it means you know, it's just a continuation of, uh,
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  Speaker 1: you know, where we want to be in terms of
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  Speaker 1: sports tourism and in our stadium for seven years really
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  Speaker 1: in the postseason of college football has been a bit
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  Speaker 1: of an engine for sports tourism, and I think this
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  Speaker 1: is the logical NETS next step. Since we've renovated it significantly,
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  Speaker 1: they're now kind of open for business a news so
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  Speaker 1: we we hope this sets us up for more success
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  Speaker 1: and really continues our our tourism focus on sports moving forward. Steve.
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  Speaker 1: The Florida Citrus Sports Organization is a not for profit
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  Speaker 1: membership organization. Explain more it is. You know, we we
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  Speaker 1: are a really kind of largely an event organization. Our
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  Speaker 1: job is to put heads in beds. We do it
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  Speaker 1: um with the resources we can generate through events and
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  Speaker 1: sponsors and ticket sales and memberships that we sell. UM.
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  Speaker 1: We do that really largely independent of government assistance and resources.
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  Speaker 1: So UM really have to tax status more than it's
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  Speaker 1: a business philosophy, of course, But UM, we are here
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  Speaker 1: and in business from a nonprofit standpoint to drive economic
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  Speaker 1: impact and tourism. So we do that through sporting events
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  Speaker 1: and push ourselves to do that aggressively. And we've done
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  Speaker 1: it successfully for seventy years in the postseason of college
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  Speaker 1: football and now recently with you know, the NFL in
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  Speaker 1: the form of preseason games and the Pro Bowl and
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  Speaker 1: college football kickoff season games and many many other events. Steve,
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  Speaker 1: how do you compete with other venues? And of course
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  Speaker 1: Florida has the advantage of a lot of sunny weather
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  Speaker 1: year round, but there's other parts of the country they
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  Speaker 1: do too. And you've got Copa America Soccer coming to
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  Speaker 1: Camping Camping World the stadium. You have the Miami Dolphins
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  Speaker 1: and the Atlantic Atlantic Falcons clashing in the week three
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  Speaker 1: NFL Thursday Night game this summer, a whole lot more.
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  Speaker 1: How are you doing this? Well, you know, I think
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  Speaker 1: you hit the nail on the head. Really. Orlando enjoys,
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  Speaker 1: uh the distinction of being the most visited destination in
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  Speaker 1: our country already and so strong ties from a leisure
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  Speaker 1: business and in some degre international footprint. So what what
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  Speaker 1: our issue was was really having a competitive space, much
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  Speaker 1: like convention centers or major box hotels. With convention spaces,
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  Speaker 1: like you said in today, you know, they gotta have
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  Speaker 1: the proper facilities to engage that kind of event activity.
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  Speaker 1: And so Orlando really just needed to upgrade it's sports
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  Speaker 1: tourism facility to stadium Camping World Stadium. So when we
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  Speaker 1: did that, it allowed all the things that make or
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  Speaker 1: and of the most visited spot light up So a
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  Speaker 1: great airport, weather, huge inventory of hotel rooms, the attractions,
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  Speaker 1: all the things that make Orlando great. We're unlocked by
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  Speaker 1: now a competitive venue for us to go out and
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  Speaker 1: be aggressive. What did it cost, if anything, to get
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  Speaker 1: the Pro Bowl. Well, you know that those big elements
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  Speaker 1: are are are going to remain for the most part sealed.
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  Speaker 1: But you know Hawaii was out there in in uh
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  Speaker 1: pretty well documented with their support of the event in
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  Speaker 1: the neighborhood of five million dollars and resources, and um,
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  Speaker 1: you know, we're we're gonna be as as aggressive and
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  Speaker 1: competitive as we can be. We're excited about it being
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  Speaker 1: a youth focus, a celebration of the sport at all levels,
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  Speaker 1: and that's really what we build our model of support around.
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  Speaker 1: Is all the assets that we have in Orlando really
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  Speaker 1: speak to that vision the NFL has for that week
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  Speaker 1: moving forward, and I think that's what one the day
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  Speaker 1: more so than than really big elements. So what kind
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  Speaker 1: of revenues do you expect to generate on the Pro
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  Speaker 1: Bowl and other events? It's pretty well. Die commented that
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  Speaker 1: Hawaii was in the twenty five million dollar a year
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  Speaker 1: range in economic impact. Fair studies placed the exposure and
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  Speaker 1: PR value in the two hundred and seventy million dollar
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  Speaker 1: a year range, and that's where a ton of this
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  Speaker 1: value is, especially when you think about think about the
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  Speaker 1: popularity of the players their social media extensions. We think
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  Speaker 1: in our marketplace will at least do twenty five million
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  Speaker 1: with the accessibility in the lower forty eight states and
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  Speaker 1: certainly Orlando, we hope it's closer to thirty five or
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  Speaker 1: forty million dollars in actual economic impact and then maintain
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  Speaker 1: the PR value if not expanded with the week long celebration.
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  Speaker 1: So we're excited about that. Steve, what would you like
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  Speaker 1: to see happen. Would you like to see a permanent
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  Speaker 1: football team in Orlando? Well, I think you know a
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  Speaker 1: lot of communities probably aspired to that. UM. Orlando now
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  Speaker 1: is the I believe with l A getting a team,
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  Speaker 1: the largest UH metro in our country that does not
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  Speaker 1: have an NFL team and probably larger than two or
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  Speaker 1: three existing NFL city. So we all believe in this
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  Speaker 1: town that UM We're read Should that opportunity ever present itself,
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  Speaker 1: we'd love to have one. UM When when that happens,
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  Speaker 1: I guess is is a tougher question to answer, but
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  Speaker 1: or it's just excited to bring NFL football back to
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  Speaker 1: our community and if first successful at this, maybe it'll
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  Speaker 1: lead to bigger things in the next number of years
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  Speaker 1: to come. Steve Hogan is the chief executive of Florida
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  Speaker 1: Citrus Sports based in Orlando, talking about the Pro Bowl
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  Speaker 1: coming to Orlando in Central Florida. We are broadcasting live
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