Prepared food and beverage tax collections reached an all-time high in Wake County;
all other KPIs continued upward trend with the area’s ongoing recovery

Raleigh, N.C. (March 15, 2022) – Visit Raleigh has released the year-end 2021 Wake County Tourism Industry Report. Key performance indicators (KPIs) and hospitality industry tax collections in Wake County have improved considerably in the last year after the devastating effects of the COVID-19 pandemic. In 2021, prepared food and beverage tax collections reached record-breaking levels and hotel occupancy tax collections increased significantly over the last year. Leisure travel, indoor and outdoor sporting events and tournaments, conferences and festivals reignited the travel economy in the area throughout 2021.

Highlights:
Upward Trend on Tax Collections

  • Hotel lodging tax collections totaled $22.7 million in 2021, up more than 58% over 2020.
  • Prepared food and beverage tax collections totaled a record $34.1 million in 2021, up 36.3% over 2020.

Future Business/Tourism Outlook

  • In 2021, Visit Raleigh and GRSA booked 256 events for future dates, bringing an estimated 250,000 room-nights of future business to Wake County and generating a projected $155 million in economic impact.

“The strong return of leisure travel, events and conventions to Wake County this year assisted in prepared food and beverage tax collections exceeding pre-pandemic levels,” said Dennis Edwards, President and CEO of Visit Raleigh. “We’re thrilled the tourism and hospitality industry KPIs maintained an upward trend this year, but there is still an imminent need for hospitality workers to maintain this growth in demand for area restaurants, bars, hotels and venues in Wake County.”

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

Wake County hospitality industry KPIs – according to the Smith Travel Research:
(January 1 – December 31, 2021)

KPI

Wake County
YTD

Wake County
% Change
YTD

State Average
YTD

National Average
YTD

Hotel Occupancy

57.2%

↑ 29.7%

57.6%

57.6%

Average Daily Rate (ADR)

$97.03

↑ 11.9%

$105.95

$124.67

Revenue Per Available Room (RevPAR)

$55.54

↑ 45.1%

$61.02

$71.87

Hotel Room Night Supply

6.6 M

↑ 3.8%

↑ 3.9%

↑ 5.1%

Room Nights Sold

3.8 M

↑ 34.7%

↑ 33.1%

↑ 37.7%
 

All KPIs for the hospitality industry rebounded during 2021. According to STR through the end of the year, Occupancy rose by nearly 30% YTD, Average Daily Rate (ADR) was up by almost 12% YTD and Revenue Per Available Room (RevPAR) increased more than 45% YTD.

Hospitality Industry Tax Collections in 2021:
With visitation recouping throughout the year, hotel lodging tax collections totaled nearly $22.7 million, up more than 58% YTD over 2020. Prepared food and beverage (PFB) tax collections totaled over $34.1 million, up more than 36% YTD over 2020.

 

Tax Collections
(Jan. – Dec.)

Wake County
(2021)

Wake County
(2020)

Amt. Change

% Change

Hotel Occupancy

$22,665,333

$14,287,830

↑ $8.4 M

↑ 58.6%

Prepared Food and
Beverage

$34,149,993

$25,055,592

↑ $9.1 M

↑ 36.3%
 

Events Hosted in Q4 2021:
Visitation picked up momentum during the fourth quarter of 2021 with Visit Raleigh and the Greater Raleigh Sports Alliance (GRSA) together hosting 66 conventions, sporting events and groups and welcoming more than 141,000 attendees to Raleigh, N.C. The quarter was highlighted by key conventions, sporting events and groups impacting overnight visitation including:

New Business Booked in Q4 2021:
The fourth quarter also continued an upward trend in booking future conventions, sporting events and groups in Wake County as Visit Raleigh and GRSA combined booked 61 groups totaling more than 64,000 room-nights of future business. In 2021, Visit Raleigh and GRSA booked 256 groups for nearly 250,000 room-nights, creating a projected direct economic impact of $155 million.

Future meetings, conventions and sporting events booked during the fourth 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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