Hotel occupancy tax and prepared food and beverage tax collections reached record highs in 2022

Raleigh, N.C. (February 13, 2023) – Visit Raleigh has released the year-end 2022 Wake County Tourism Industry Report. Key performance indicators (KPIs), hospitality tax collections and prepared food and beverage tax collections in Wake County improved significantly throughout 2022. Hotel occupancy tax collections and prepared food and beverage tax collections both recorded the highest year on record in 2022, exceeding previous record numbers from 2019. Leisure travel, sporting events and tournaments, conferences and festivals contributed significantly to the travel economy in the area throughout 2022.

Highlights:
Record High Tax Collections

• Hotel lodging tax collections totaled nearly $33 million in 2022, up 45.4% over 2021.
• Prepared food and beverage tax collections totaled $40.8 million in 2022, up 19.4% over 2021.

Group Business Overview

• Visit Raleigh and the Greater Raleigh Sports Alliance (GRSA) hosted 321 events, tournaments, conferences and groups in 2022, welcoming more than 470,000 attendees to the area.
• Through the end of 2022, hotel occupancy rose to 66.8% year-to-date (YTD), up 16.9% over 2021, and outpacing the state average of 61.9% and the national average of 62.7%.

Future Business/Tourism Outlook

• In 2022, Visit Raleigh and GRSA booked 333 events for future dates, bringing nearly 206,000 room-nights of future business to Wake County and generating a projected $131.3 million in economic impact.

“2022 was the best year on record for both occupancy and prepared food and beverage tax collections,” said Dennis Edwards, President and CEO of Visit Raleigh. “Interest in Raleigh and Wake County continues to rebound both domestically and internationally, as exhibited by new and returning world-class events, the addition of new domestic flights and carriers, as well as a record number of direct international flights coming in and out of RDU International Airport.”

Below is a full breakdown of the tourism and hospitality industry performance throughout Wake County in 2022.

Wake County hospitality industry KPIs – according to the Smith Travel Research:
(January 1 – December 31, 2022)

KPIs for the hospitality industry rebounded greatly in 2022. According to STR through the end of the year, Occupancy rose by nearly 17% YTD, Average Daily Rate (ADR) was up by 23% YTD and Revenue Per Available Room (RevPAR) increased more than 43% YTD.

Hospitality Industry Tax Collections in 2022:
With leisure travel booming and business travel starting to return during 2022, hotel lodging tax collections totaled nearly $33 million, up more than 45% YTD over 2021. Prepared food and beverage (PFB) tax collections totaled over $40.8 million, up more than 19% YTD over 2021.

Interviews with a Visit Raleigh spokesperson can be arranged via phone, video conference or in person. To arrange an interview, please contact the Public Relations and International Tourism Manager, Veronica Thring at vthring@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 provides opportunity for people throughout Wake County. Raleigh, N.C./Wake County welcomes nearly 16 million visitors annually whose spending tops $2.3 billion. The visitor economy supports more than 21,000 local jobs in Wake County and generates $243 million in state and local tax revenues, saving each Wake County household $592 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 16 million visitors annually whose spending tops $2.3 billion. The visitor economy supports more than 21,000 local jobs in Wake County and generates $243 million in state and local tax revenues, saving each Wake County household $592 in taxes annually. raleighsports.org

Media Contact:
Veronica Thring
Public Relations and International Tourism Manager
919.819.8292
vthring@visitRaleigh.com

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