Wednesday, January 24, 2024

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With just one month left in the current calendar year, Visit Tampa Bay has announced that Hillsborough County has already achieved $59.9 million in TDT collections. This positions Tampa Bay to surpass the record collections of $62 million in 2023 and once again achieve over $1 billion in hotel revenues.

Despite the overall decline in hospitality numbers across Florida and the United States, Hillsborough County is bucking the trend with a steady increase in revenues and visitation compared to its competitors. December numbers, reflecting November collections, have reached $4,536,750. While slightly below the fiscal year 2023 record, this figure represents an impressive 20.0% increase compared to the same month in fiscal year 2022. According to STR, Inc., ADR growth of 8% for December 2023 versus December 2022 is the highest level of improvement in the comp set, and growth in room revenue is the second best in the same set.

“The evolution of Tampa Bay as a tourism destination is evident as the revenue numbers continue to show growth in higher yield business. To continue to grow revenue without complimentary growth in hotel availability proves that our strategies to target corporate business and higher net worth visitors is providing results,” said Santiago C. Corrada, President and CEO of Visit Tampa Bay. 

In November 2023, taxable hotel revenue reached $75,586,266, marking an 18.2% rise compared to the same month in the fiscal year 2022. For December 2023, hotel occupancy stood at 68.6%, with an Average Daily Rate (ADR) of $150.88 and RevPAR at $103.48.

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