Black Meetings & Tourism - HILLSBOROUGH COUNTY TOURISM REVENUES CONTINUE TO POSITION THE DESTINATION AS INDUSTRY LEADER

Industry Briefs
HILLSBOROUGH COUNTY TOURISM REVENUES CONTINUE TO POSITION THE DESTINATION AS INDUSTRY LEADER
Tampa Bay Maintains Solid STR and TDT Statistics Independent reporting for Hillsborough County's tourism sector continues to show resilience and growth. After five months of the 2024 fiscal year, the County continued to show modest growth in ADR, RevPAR, and Hotel Revenue, despite a slight decrease in hotel occupancy and tourist development tax (TDT) collections for the year to date. According to STR, Inc., Hotel Revenue for February 2024 reached $115,653,559, a slight increase (1.3%) over the previous record set in February of FY 2023. Added to the significant 24.3% increase compared to January in fiscal year 2022, it reflects robust growth in the sector. Tourist Development Taxes collected by the county in February, reflecting January collections, totaled $6,241,740, representing a modest 2.1% decrease from the previous record set in the same month during fiscal year 2023. However, this decline is compared against a noteworthy 24.1% increase over February in fiscal year 2022, marking substantial progress. The timing of collections and non-taxable meetings may be a factor. Santiago C. Corrada "The latest numbers show how critical it is for our team and partners to continue to aggressively market Tampa Bay on a global scale," said Santiago C. Corrada, President and CEO of Visit Tampa Bay. "Despite minor fluctuations in occupancy, our efforts to progressively promote Hillsborough County have resulted in substantial year-over-year increases, underlining the sustained growth trajectory of our destination. With new flights and cruises on the horizon we will be expanding our efforts where possible." The cumulative FY bed tax collections for the fiscal year stand at a notable $24,744,733, based on taxable hotel revenue of $412,290,247. Hotel occupancy for February remained solid, coming in at 81.7%. Average Daily Rate (ADR) averaged $196.25, a 2.1% increase over the previous fiscal year with RevPAR totaling $160.40, a 0.2% increase over the previous fiscal year 2023. ABOUT VISIT TAMPA BAY The heart of Florida's Gulf Coast beats in Tampa Bay. Visit Tampa Bay encourages adventure with a relaxing vibe to create vacation experiences that are authentically Tampa Bay. As a not-for-profit corporation certified by Destinations International's Destination Marketing Accreditation Program (DMAP), we work with hundreds of partners to tell the world the story of Tampa Bay. Treasure awaits. For more information, go to www.visittampabay.com.

Industry Briefs

HILLSBOROUGH COUNTY TOURISM REVENUES CONTINUE TO POSITION THE DESTINATION AS INDUSTRY LEADER

Tampa Bay Maintains Solid STR and TDT Statistics

Independent reporting for Hillsborough County's tourism sector continues to show resilience and growth. After five months of the 2024 fiscal year, the County continued to show modest growth in ADR, RevPAR, and Hotel Revenue, despite a slight decrease in hotel occupancy and tourist development tax (TDT) collections for the year to date.

According to STR, Inc., Hotel Revenue for February 2024 reached $115,653,559, a slight increase (1.3%) over the previous record set in February of FY 2023. Added to the significant 24.3% increase compared to January in fiscal year 2022, it reflects robust growth in the sector.

Tourist Development Taxes collected by the county in February, reflecting January collections, totaled $6,241,740, representing a modest 2.1% decrease from the previous record set in the same month during fiscal year 2023. However, this decline is compared against a noteworthy 24.1% increase over February in fiscal year 2022, marking substantial progress. The timing of collections and non-taxable meetings may be a factor.

Santiago C. Corrada

"The latest numbers show how critical it is for our team and partners to continue to aggressively market Tampa Bay on a global scale," said Santiago C. Corrada, President and CEO of Visit Tampa Bay. "Despite minor fluctuations in occupancy, our efforts to progressively promote Hillsborough County have resulted in substantial year-over-year increases, underlining the sustained growth trajectory of our destination. With new flights and cruises on the horizon we will be expanding our efforts where possible."

The cumulative FY bed tax collections for the fiscal year stand at a notable $24,744,733, based on taxable hotel revenue of $412,290,247. Hotel occupancy for February remained solid, coming in at 81.7%. Average Daily Rate (ADR) averaged $196.25, a 2.1% increase over the previous fiscal year with RevPAR totaling $160.40, a 0.2% increase over the previous fiscal year 2023.

ABOUT VISIT TAMPA BAY

The heart of Florida's Gulf Coast beats in Tampa Bay. Visit Tampa Bay encourages adventure with a relaxing vibe to create vacation experiences that are authentically Tampa Bay. As a not-for-profit corporation certified by Destinations International's Destination Marketing Accreditation Program (DMAP), we work with hundreds of partners to tell the world the story of Tampa Bay. Treasure awaits. For more information, go to www.visittampabay.com.