Wake County Tourism Tax Revenues Highest on Record
Sunday, February 08, 2015, 7pm
Raleigh, N.C. (Feb. 9, 2015) - 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 taxes during calendar year 2014.
The breakdown of figures for the 2014 calendar year are as follows:
- Wake County hotels reported a total occupancy of 67.9 % in 2014; which is up 6.7% over 2013. These numbers outperformed the state average of 61.2 percent and the national average of 64.4 percent.
- Wake County Average Daily Rate (ADR) was up 5.5% at $91.31.
- RevPAR was up 12.5% at $61.98.
- Occupancy tax collections totaled $20,261,653, a 13% percent increase over 2013. This is the best year for occupancy tax collections to date.
- Prepared food and beverage collections totaled $21.7 million, a 9 percent increase over 2013 and like Occupancy tax collections, this is the best year on record.
Collectively, tourism tax collections were $43,276,907
"These are huge numbers for Raleigh and Wake County proving that tourism is a significant economic driver for our area," said Denny Edwards, president and CEO of the Greater Raleigh Convention and Visitors Bureau. "These tax dollars go to not only fund our mission to increase tourism but also in funding amenities like the PNC Arena, The Raleigh Convention Center, NC Museum of Art and the Duke Energy Center for the Performing Arts that are enjoyed by not only visitors but residents too."
The Greater Raleigh Convention & Visitors Bureau, as the official destination marketing organization of Raleigh and Wake County, accelerates sustainable economic growth and development by increasing visitor and convention business