Nine resort hotels in Newport Beach have asked the City Council to dissolve the city's Tourism Business Improvement District so they can privatize their marketing to focus on drawing more bookings for them from the luxury travel and meetings market segments.

An agreement forming the tourism district, which was created in 2009, expired in January. The nine resorts are opting out and forming their own Marketing Assessment Partnership-a nonprofit "mutual benefit" corporation, according to a report in the Orange County Register.

The resorts seceding from the district include Balboa Bay Resort, the Hyatt John Wayne Airport Newport Beach, the Hyatt Regency Newport Beach, the Newport Beach Marriott Bayview, VEA Newport Beach: A Marriott Resort and Spa, the Newport Dunes Waterfront Resort and Marina, the Renaissance Newport Beach Hotel and the Lido House.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.