More than 90 group business cancellations equaling $47 million in economic impact lost, hotel occupancy at 24%

Raleigh, N.C. (April 21, 2020) – The Greater Raleigh Convention and Visitors Bureau (Visit Raleigh) and the Greater Raleigh Sports Alliance (GRSA) released today a report detailing the impact that COVID-19 is having on the tourism and hospitality industry throughout Wake County as a result of the closure of restaurants and hotels and event cancellations. This report is compiled on an ongoing basis and Visit Raleigh has created a page on its website with the latest information for visitors and area businesses in the hospitality industry alike. VisitRaleigh.com/Covid-19

It’s important to note that Wake County draws 16.8 million visitors annually who spend more than $2.7 billion locally and generate more than $250 million in state and local tax revenue. The hospitality industry overall represents more than 67,000 jobs locally and is vital to the overall health of the economy.

“We’re starting to see the flattening out of hotel occupancy decline and it appears that somewhere around 24% total occupancy countywide may be the new norm,” said Dennis Edwards, President and CEO, of Greater Raleigh Convention and Visitors Bureau (Visit Raleigh). “We’re also grateful for the meeting planners and event organizers who are working with us to reschedule their events for future dates as this keeps the business here in Wake County and will assist us greatly in recovery efforts once the appropriate time comes.”

Below is a breakdown by sector of the impact COVID-19 has had on the tourism and hospitality industry in Wake County.
 

Restaurant Sector Impact:
To date, all 1,300+ restaurants in Wake County have now been closed for more than a month. That said, many restaurants are doing takeout and delivery options as well as selling gift cards online to generate some revenue during these challenging times. A list of ways to support local hospitality businesses by shopping online can be found on VisitRaleigh.com.
 

Public Events Impact:
More than 85+ large scale events and festivals have been canceled or rescheduled.

Note:
Only large-scale public events that draw more than 100 people. It is not representative of all events throughout Wake County. Complete attendance data and economic impact data not available.
 

Meetings, Conventions and Sporting Events Sector Impact:
Visit Raleigh and GRSA have booked more than 90 conventions, meetings and group sporting events throughout Wake County that have been canceled, totaling over 125,000 attendees and resulting in more than $47.1 million in total lost economic impact.

However, working with local hotels, event venues and competition sites, the organization’s sales teams have also been able to reschedule 14 events, preventing them from canceling outright.

Note:
These figures represent only business booked by Visit Raleigh/GRSA and are not representative of all events lost within Wake County.
 

Hotel Sector Impact:
16 of the more than 160 hotel properties in Wake County have now temporarily closed. A complete list of Hotels Temporarily Closed can be found on VisitRaleigh.com.

Nearly 30 hotel properties in Wake County are now offering “Workday” rates for those looking for a private, quiet place to work remotely during the day. A list of Hotels Offering Workday Rates can be found on VisitRaleigh.com.

As a result of the decrease in group, business and leisure travel, hotel occupancy throughout Wake County has dropped to unprecedented levels. According to STR, in March 2020 occupancy ran at 44%, down 42.6% from March 2019. The week of April 5-11 hotel occupancy was only at 24.4% countywide which is down 69.2% compared to the same week last year (2019).

March 2020

Week of March 29-April 4, 2020

Week of April 5-11, 2020

Interviews with a Visit Raleigh spokesperson can be arranged via phone or video conferencing. To arrange an interview, please contact Scott Peacock, Director of Public Relations, at 614.551.7981 or speacock@visitRaleigh.com.

About the Greater Raleigh Convention and Visitors Bureau (Visit Raleigh):
As the official destination 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 in the community. Raleigh/Wake County, N.C., welcomes nearly 17 million visitors annually whose spending tops $2.7 billion. The visitor economy supports more than 27,000 local jobs in Wake County and generates $268 million in state and local tax revenues, saving each Wake County household $700 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 to generate and/or retain sports-related businesses (tournaments, championships, special events and meetings) to drive economic development. Raleigh, N.C./Wake County welcomes nearly 17 million visitors annually whose spending tops $2.7 billion. The visitor economy supports more than 26,170 local jobs in Wake County and generates more than $250 million in state and local tax revenues, saving each Wake County household $671 in taxes annually. raleighsports.org

Media Contact:
Scott Peacock, Director of Public Relations
614.551.7981
speacock@visitRaleigh.com

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