Massive increase YTD in hotel occupancy tax collections
and all hospitality KPIs now trending upward

Raleigh, N.C. (November 17, 2021) – Visit Raleigh has released the Wake County Tourism Industry Report for the third quarter of 2021. Key performance indicators and hotel occupancy tax collections for the hospitality industry in Wake County have continued to uptick after the devastating effects of the COVID-19 pandemic. Hotel occupancy tax collections have significantly increased since this time last year. Several indoor and outdoor sporting events, conventions and festivals have kickstarted the travel economy again in the area.

Highlights:
Upward Trend on Tax Collections

  • Hotel lodging tax collections totaled $15.6 million through September 2021, up 41% over 2020.
  • Prepared food and beverage tax collections totaled $24.5 million through September 2021, up 35.9% over 2020.

Group Business Overview

  • Visit Raleigh and the Greater Raleigh Sports Alliance (GRSA) hosted 50 events in the third quarter of 2021, welcoming more than 55,000 attendees to the area.
  • Through the end of September, hotel occupancy rose to 55.6% year-to-date (YTD), up 23.7% over 2020.

Future Business/Tourism Outlook

  • Visit Raleigh and GRSA were able to book 80 events for future dates, bringing an estimated 94,000 room-nights of future business to Wake County and generating a projected $70.1 million in economic impact.

“Events, festivals and conventions returning to the area have proven that the tourism and hospitality industry are having an extremely positive effect on tax collections YTD in Wake County,” said Dennis Edwards, President and CEO of Visit Raleigh. “With all key performance indicators (KPIs) trending upward we now, more than ever, need additional hospitality workers to support the increased demand in hotels, restaurants and venues across Wake County.”

Below is a full breakdown of the tourism and hospitality industry performance throughout Wake County in the third quarter of 2021.

Wake County hospitality industry KPIs – according to the Smith Travel Research:
(January 1 – September 30, 2021)

KPI

Wake County
YTD

Wake County
% Change
YTD

State Average
YTD

National Average
YTD

Hotel Occupancy

55.6%

↑ 23.7%

57.5%

57.6%

Average Daily Rate (ADR)

$92.77

↑ 4.5%

$103.55

$121.74

Revenue Per Available Room (RevPAR)

$51.55

↑ 29.3%

$59.53

$70.08

Hotel Room Night Supply

4.9 M

↑ 4.2%

↑ 4.4%

↑ 5.4%

Room Nights Sold

2.7 M

↑ 28.8%

↑ 33.2%

↑ 35.5%

All key performance indicators for the hospitality industry are now rebounding through the third quarter of 2021. According to STR through the third quarter, Occupancy rose by more than 23% YTD, Average Daily Rate (ADR) was up by 4.5% YTD and Revenue Per Available Room (RevPAR) increased more than 29% YTD.

Hospitality Industry Tax Collections in 2021:
As a result of visitation recovering, YTD through September 30, hotel lodging tax collections totaled more than $15.6 million, up 41% YTD over 2020. Prepared food and beverage (PFB) tax collections totaled more than $24.5 million, up nearly 36% YTD over 2020.

Tax Collections
(Jan. – Sept.)

Wake County
(2021)

Wake County
(2020)

Amt. Change

% Change

Hotel Occupancy

$15,626,028

$11,078,807

↑ $4.5 M

↑ 41%

Prepared Food and
Beverage

$24,572,509

$18,081,113

↑ $6.4 M

↑ 35.9%

Events Hosted in Q3 2021:
While visitation continued to steadily increase during the third quarter of 2021, Visit Raleigh and the Greater Raleigh Sports Alliance (GRSA) together hosted 50 conventions, sporting events and groups and welcomed more than 55,000 attendees to Raleigh, N.C. The quarter was highlighted by key conventions, sporting events and groups impacting overnight visitation including:

New Business Booked in Q3 2021:
The third quarter was extremely productive in booking future conventions, sporting events and groups in Wake County as Visit Raleigh and GRSA combined booked 80 groups totaling more than 94,000 room-nights of future business. Visit Raleigh and GRSA’s collective future bookings from this quarter will create a direct economic impact of $70.1 million. YTD Visit Raleigh and the GRSA have booked 195 groups for nearly 188,000 room-nights, creating a projected direct economic impact of $117.8 million.

Future meetings, conventions and sporting events booked during the third quarter include:

Interviews with a Visit Raleigh spokesperson can be arranged via phone, video conference or in person. To arrange an interview, please contact Director of Public Relations Jessica Holt at jholt@visitRaleigh.com.

 

About the Greater Raleigh Convention and Visitors Bureau (Visit Raleigh):
As the official destination marketing organization for Wake County, the Greater Raleigh Convention and Visitors Bureau (Visit Raleigh), is responsible for promoting Wake County as an attractive travel destination and enhancing its public image as a dynamic place to live and work. Through the impact of travel, the organization strengthens the economic position of and provide opportunity for people throughout Wake County. Raleigh, N.C./Wake County welcomes nearly 13 million visitors annually whose spending tops $1.7 billion. The visitor economy supports more than 17,000 local jobs in Wake County and generates $186 million in state and local tax revenues, saving each Wake County household $470 in taxes annually. visitRaleigh.com.

About the Greater Raleigh Sports Alliance (GRSA):
A division of the Greater Raleigh Convention and Visitors Bureau (Visit Raleigh) – the Greater Raleigh Sports Alliance (GRSA) markets and promotes Raleigh and all of Wake County in order to generate and/or retain sports-related businesses (tournaments, championships, special events and meetings) for the purpose of economic development. Raleigh, N.C./Wake County welcomes nearly 13 million visitors annually whose spending tops $1.7 billion. The visitor economy supports more than 17,000 local jobs in Wake County and generates $186 million in state and local tax revenues, saving each Wake County household $470 in taxes annually. raleighsports.org

Media Contact:
Jessica Holt
Director of Public Relations
919.645.2654
jholt@visitRaleigh.com

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