Wake County Tourism Tax Revenues Post Record Numbers in October
Wednesday, December 07, 2016, 7pm
Wake County October lodging tax collections posted the best month on record, pulling in $2,433,410 and representing an 18% increase over October 2015. Hotel occupancy was 82.6% in October, up 12.1% for the month compared to October 2015. This was 8.2% higher than the state average and 14% higher than the national hotel occupancy averages in October. The occupancy growth rate of 12.1% also outpaced the state (8.9%) and national (-0.3%) averages for the month.
This success can be attributed to several major events taking place in Wake County in October including:
• North Carolina Community College System's 2016 Conference which had 3,500 attendees
• The North Carolina League of Municipalities 2016 Annual Conference which had 2,500 attendees
• The Wildlife Society's 23rd Annual Conference which had 1,500 attendees
• The 2016 ACC Cross Country Championships which had 300 participants and several hundred spectators
As a result of the increased visitation during the month, Wake County prepared food & beverage tax collections also posted the best October on record, with $2,251,653, a 9.1% increase over October 2015.
"October 2016 was a very good month for all aspects of the visitor economy here in Wake County," stated Denny Edwards, president and CEO of the Greater Raleigh Convention and Visitors Bureau (GRCVB). "As these numbers show, tourism is a huge economic driver for our community bringing - $2.3 billion dollars into the local economy and supporting more than 24,000 jobs annually while also proving that Raleigh continues to grow as an emerging leisure, meetings and sports destination of choice."
About the Greater Raleigh Convention & Visitors Bureau (GRCVB)
The Greater Raleigh Convention & Visitors Bureau (GRCVB), as the official destination marketing organization of Raleigh and Wake County, accelerates sustainable economic growth and development by increasing visitor and convention business. Raleigh, N.C./Wake County welcomes more than 15 million visitors annually whose spending tops $2.3 billion. The visitor economy supports more than 24,400 local jobs in Wake County and generat3w more than $219 million in state and local tax revenues, saving each Wake County household $627 in taxes annually.