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Route to. isui a ° ° ° An executive summary of current news on the leisure and discretionary spending markets. ° Box 27488 Washington, D.C. 20038-7488 Return to: (202) 232-7107 Vol. VI, No. 8 — April 30, 1986 TRENDS & OUTLOOK Though the economy is signaling mixed mes- FINANCIAL YARDSTICKS sages, expectations are high that vacation travel this summer will launch the boom in leisure spending that the industry has been Interest rates are down...except on credit anticipating over the past 5 years of reces- card debt. Many in Congress are concerned sion and recovery. Consumer confidence has and have held hearings. Little is expec- been edging upwards to the high marks of the ted, although the publicity and pressure late 1970s, and promotional spending by des- may pay off and have some impact on the tinations and attractions indicates a high rates. 111 level of competition. (Expanded report in TOP 1 0 LEISURE TRAVEL section.) A $750 million investment by Canadian int- CREDIT CARD LENDERS erests (plus $115 million more by corporate AND INTEREST RATES sponsors) is on the line in EXPO 86, which THESE FIGURES, FIRST COMPILED opens Friday (May 2) for a six months run. IN OCTOBER 1985, HAVE REMAINED The 14 million "ticket days" goal will at- UNCHANGED THROUGH APRIL 1986 tract about 3 million visitors from the U.S. • to Vancouver, British Columbia--and other Lender Interest Rate areas of Canada, which is billing itself as a foreign and exotic destination in a Sears 21.0% massive ad and promotional campaign. Citicorp 19.8% Montgomery Ward 21.6% Just as two other Expos of the 1980s-- Bank of America 19.8% in Knoxville and New Orleans--transforma- American Express 18.0% tion of dingy waterfront areas has been a J.C. Penney 21.0% crucial selling point to backers. Despite First of Chicago Bank 19.8% the losses racked up in New Orleans, the Chemical Bank 19.5% waterfront development will continue under the Rouse Co. of Harborplace, South Street Chase Manhattan Bank 9% and similar festival markets. EXPO 86, Manufacturers Bank 17.89% the last one in this century, will have a Source:Office of Rep.Charles E.Schumer(0-N.Y.) $200 million deficit at first, with some permanent facilities to show for the $1 billion spent to produce the event. Figures for Holiday Inns in this issue are for holdings at the end of 1985. As of the Princess Di and HRH, the Prince of Wales, end of March, Holiday appears to have add- open EXPO, which now is anticipating that ed 37,000 rooms at 150 properties. Not in- visits could hit 16 million. cluded in the other report are 27,000 rooms at 175 Embassy/Hampton/Residence Inns prop- erties plus 3,500 rooms at 5 Harrah's. The IN THIS ISSUE: TRENDS & OUTLOOK 1 PARTICIPANT SPORTS 4 FINANCIAL YARDSTICKS 1 SHOW BUSINESS 5 SPECTATOR SPORTS 2 ADVERTISING 6 LEISURE TRAVEL 3 MUSIC, RECORDS & TAPES 7 PUBLISHING 4 ATTRACTIONS & PRODUCTIONS 8 • LEISURE INDUSTRY DIGEST is published twenty-four times a year. Business and editorial material should be sent to LEISURE INDUSTRY DIGEST, P.O. Box 27488, Washington, D.C. 20038-7488. Telephone (202) 232-7107. Editor/publisher: Marj Jensen. Contributing editors are Jamie Thomas, Ida Simmons, John Michaels, K. Langhorne Oliver and Robert Trygve Jr. Federal tax I.D. #564-44-2861. Subscription price is $95 a year in U.S., Canada and Mexico by first class mail. Overseas air mail price is $140 a year.