The hospitality sector in Hillsborough County continues to excel, evidenced by March’s Vacationer Growth Tax collections (reflecting February’s efficiency) totaling a powerful $7,290,274. This represents a 7.3% improve over the earlier document for a similar month in FY2023, marking it because the second-highest month ever for the county. This efficiency displays a major 21.0% rise in comparison with March of fiscal yr 2022.
By the midpoint of the fiscal yr, cumulative tax collections had reached $32,035,007. Lodge occupancy in March remained sturdy at 81.5%, demonstrating the county’s constant efficiency. The Common Day by day Price (ADR) stood at $193.96, with Income Per Obtainable Room (RevPAR) at $158.12.
“The strength of the tourism and hospitality community in Hillsborough County, and its influence on our economy, reinforce March’s exceptional collections and substantial hotel revenue,” mentioned Santiago C. Corrada, President and CEO of Go to Tampa Bay. “With much more of our outstanding eating places receiving MICHELIN recognitions, together with The Tampa EDITION and Palihouse Hyde Park Village receiving an inaugural MICHELIN Key recognition, our advertising and marketing and gross sales efforts in home out-of-state markets proceed to safe Tampa Bay’s standing as a world-class vacation spot.”
Tampa Bay continued to rank second in resort occupancy amongst each conference and leisure markets, and maintained top-three positions in ADR and RevPAR in opposition to rivals in assembly locations. The main flight origins for Tampa Bay guests within the month included Detroit, New York, Boston, and Chicago, with Atlanta and Orlando dominating the drive markets.
Lodge Taxable Income for February, reported in March, reached $121,501,863, marking a 7.2% improve from the earlier document in February of FY2023 and a major 21.1% rise over the identical interval in fiscal yr 2022, underscoring a constant progress pattern.
As Go to Tampa Bay prepares to have fun Nationwide Journey & Tourism Week, the county continues to attract guests and host profitable occasions, solidifying its popularity as a premier tourism and hospitality hub, which in flip, boosts financial progress and prosperity.
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