The San Diego Convention Center had an occupancy rate of 68 percent during the fiscal year ended June 30, the highest level since 2008, according to a report to be presented Wednesday to the City Council’s Economic Development Committee.
The rate compared to a national average of 44 percent, according to the report, which will be presented by officials with the San Diego Convention Center Corp. and San Diego Tourism Authority.
The fiscal year was the third in a row with an occupancy increase.
The report also says the 172 events at the convention center had a regional economic impact of more than $1 billion, generated almost $21 million in hotel room taxes and nearly 691,000 hotel room nights. More than 808,000 attendees spent $624.7 million during the year, the report says.
The five events with the biggest economic bangs, according to the report, were:
- Comic-Con International, almost $136 million;
- Cisco Live, $70.3 million;
- ESRI, over $50 million;
- the National Safety Council, $44.4 million; and
- the American College of Cardiology, just over $42 million.
City and tourism officials are laying the groundwork for a new plan to expand the center, which they contend is losing out on the biggest trade shows because competing cities offer more space. Even Comic-Con has outgrown the center and uses facilities at nearby hotels.
An expansion plan adopted under former Mayor Jerry Sanders fell by the wayside when the financing mechanism was rejected in court. A new funding plan could go before voters next year.
A lawsuit challenging the California Coastal Commission‘s approval of the project also needs to be resolved before construction can begin.