November 2017 News & Notes

Los Angeles Awarded 2023 CFP National Championship


The Los Angeles region has been selected by the College Football Playoff (CFP) to host the 2023 College Football Playoff National Championship. The nation’s biggest college football event will be played at the new NFL stadium in the City of Inglewood, set to open in 2020. The selection of Los Angeles follows a highly competitive bid process led by the Los Angeles Sports & Entertainment Commission (LASEC) and Los Angeles Stadium & Entertainment District at Hollywood Park with support from Los Angeles Tourism & Convention Board. This successful bid focused on utilizing our City’s tremendous venues and assets – diversity, creativity, entertainment – as well as our storied history of hosting the world’s biggest sporting events including the Olympics, World Cup, and All-Star Weekends. While the game will be held in Inglewood, other official events and celebrations will be hosted throughout the region.

INDUSTRY NEWS & NOTES

Air China announced the first direct air route linking China’s southern city of Shenzhen with Los Angeles will be launched Dec. 7, 2017. The nonstop service will fly times weekly and aims to serve Chinese travelers in the region’s Pearl River Delta.

American Airlines launched daily nonstop service from Los Angeles on November 11, 2017. American is the largest carrier at LAX with more than 200 daily flights to 70 destinations on five continents.

Transient Occupancy Tax General Fund receipts totaled $25.7 million in September 2017, totaling $79.9 million in first quarter of the Fiscal Year, which is 5.6% above adopted budget and $10.1 million above the same time last year (14.5%).

L.A. County’s Leisure & Hospitality sector reported a slight decline in employment from August to September 2017, ending with 521,400 jobs. However, this is an increase of 5,400 jobs compared to the same time last year, the fifth largest increase in employment of all 11 super sectors. Overall, L.A. County unemployment was 4.9% in September 2017, a 5.8% year-over-year improvement from 5.2% unemployment in September 2016.

September events at the Los Angeles Convention Center generated approximately $20.4 million in estimated economic impact for The City of Los Angeles. Exhibit hall occupancy for the month was 67%, bringing the first quarter of the fiscal year occupancy rate to 73%. In addition to the single citywide and several local tradeshows and events, four filming and photo events took place at LACC, resulting in nearly $90,000 in revenue.

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