Wake County Tourism Tax Revenues Highest on Record
Wed, Feb. 10 2016, 7PM
Raleigh, N.C., Feb. 11, 2016 - The Greater Raleigh Convention and Visitors Bureau (GRCVB) is pleased to report tourism in Wake County has continued the upward trend of record-breaking revenues for both hotel occupancy and prepared food and beverage tax collections during calendar year 2015.
The breakdown of figures for the 2015 calendar year are as follows:
• Wake County hotels reported a total occupancy of 69.7 percent in 2015; which is up 2.2 percent over 2014. These numbers outperformed the state average of 62.9 percent and the national average of 65.6 percent.
• Wake County Average Daily Rate (ADR) was up 5.7 percent at $95.87.
• RevPAR was up 8.1 percent at $66.81.
• Occupancy tax collections totaled $22,401,795, a 10.6-percent increase over 2014. This is the best year for occupancy tax collections to date.
• Prepared food and beverage collections totaled $25,262,981, a 9.8-percent increase over 2014, and like occupancy tax collections, this is the best year on record.
Collectively, tourism tax collections were $47,664,776.
"We are thrilled with the occupancy and collection numbers," stated Denny Edwards, president and CEO of the Greater Raleigh Convention and Visitors Bureau. "As these numbers show, tourism is a huge economic driver for our community bringing millions of dollars into the local economy while also proving that Raleigh is on the radar as a unique and go-to leisure, meetings and sports destination."