Team San Jose Ends Fiscal Year with Success

SAN JOSE, CA. - October 13, 2006— Team San Jose, the two year-old consortium made up of arts and labor leaders, hoteliers and members of the San Jose Convention & Visitors Bureau officially closed FY 2005-06, marking the second year in a row of reduced expenses and increased revenues for the San Jose Convention & Cultural Facilities. Team San Jose’s first-of-its-kind, public-private model is credited for the positive and upward moving trend including a net loss of $4.6 million, the lowest subsidy in over six years. A total of 252,778 definite hotel room nights were booked representing an 18 percent increase from FY 2004-05. Occupancy levels were the highest in years, with 518 events hosted attracting nearly 1.3 million people to the 10th largest City in the Nation. Over $124 million in economic impact was delivered to the City with gross revenues generating over $8.8 million.

A key accomplishment came at the start of 2006, as Team San Jose opened South Hall adding an additional 80,000 square feet to the City’s convention facilities. Exhibit space achieved through South Hall proved to be a deal-breaker for 15 groups including the San Jose International Auto Show who took part in a grand opening event attended by many elected officials and Bay Area socialites. Computer Game Developers Conference and the San Jose Grand Prix were two of the highest attended events in the history of San Jose, generating massive amounts of visitors downtown. The addition of South Hall alone represented nearly $78 million in economic impact during 2005-06.

The Convention & Cultural Facilities were additionally recognized by Association Meetings magazine as one of the top 10 convention venues in the United States. Customer satisfaction results showed 96 percent of clients would return to San Jose and host an event in the facilities managed by Team San Jose. Team San Jose’s unique model creates a one-stop shop for meeting and convention planners.

"We are proud of Team San Jose's success in growing more quality jobs, driving the local economy, and remaining competitive in the market place,” said Dan Fenton, president and CEO of the San Jose Convention & Visitors Bureau and Team San Jose. "Through our public private model, and one stop shop for clients, Team San Jose, without a doubt, will continue to produce great results for the City for many years to come."

About Team San Jose
Team San Jose's mission is to ensure that San Jose's Convention Center and Cultural Facilities are effectively managed to reduce costs, improve the local economy, and add value for our customers, residents, workers, and businesses within the City of San Jose. Team San Jose's board includes local hoteliers, organized labor, the arts and the Convention & Visitors Bureau.

About The San Jose Convention & Visitors Bureau (SJCVB)
The San Jose Convention & Visitors Bureau (SJCVB) mission is to enhance the image and economic well being of San Jose by marketing San Jose as a globally recognized destination. The SJCVB offers meeting planners, tour operators, and individual visitors a wide range of services to ensure a successful event and fun visit to San Jose. To receive a copy of the Bureau's Meeting Planning Guide or Official Visitors Guide, please contact the SJCVB at 1.800.SAN.JOSE (1.800.726.5673) or visit http://www.sanjose.org.