In case you missed it, GRCVB released this report to the media last week.

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Raleigh, N.C. (July 7, 2020) – The Greater Raleigh Convention and Visitors Bureau (Visit Raleigh) and the Greater Raleigh Sports Alliance (GRSA) released a report detailing the impact that COVID-19 is having on the tourism and hospitality industry throughout Wake County. Included in the report is tax collection data for May as well as the latest hotel performance data for June and updated event cancellation totals.

It’s important to note that Wake County typically 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.

Highlights:

• Hotel lodging tax collections so far this year are down ↓ $5.8 million or 47.4% over last year.
• Prepared food and beverage tax collections so far this year are down ↓ $3.4 million or 26.2% over last year.
• 200+ conventions, meetings and group sporting events canceled, totaling $110.4 million economic impact.
• 34 conventions, meetings and group sporting events rescheduled, totaling $17.9 million economic impact.
• 100+ large scale events and festivals have been canceled or rescheduled.
• Nearly 100% of the 160+ hotels throughout Wake County are now back open. Only six remain closed.
• Hotel occupancy rates are now hovering just above 40% countywide for the first time since mid-March.

“With the May tax collections coming in, we’re getting a clearer picture on just how much of an economic impact COVID-19 is having on the tourism and hospitality industry here in Wake County and the numbers are staggering,” said Dennis Edwards, president and CEO of Greater Raleigh Convention and Visitors Bureau (Visit Raleigh). “On a positive note, we now have nearly 100% of our more than 160 hotels countywide back open with just six remaining temporarily closed. It’s promising to see average occupancy countywide continue to trend upwards even as we bring all that inventory back into the market.”

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

Tax Collection Impact:
As a result of the continued decreased visitation due to COVID-19 in May, hotel lodging tax collections were down 75.8% compared to 2019, bringing in only $679,212. Prepared food and beverage (PFB) tax collections were also down 40.9% in May compared to 2019, bringing in only $1.6 million.

Year-to-date (YTD) through May 31, hotel lodging tax collections totaled more than $6.5 million, down 47.4% YTD over 2019. Prepared food and beverage (PFB) tax collections totaled more than $9.6 million, down 26.2% YTD over 2019.

Meetings, Conventions and Sporting Events Sector Impact:
Visit Raleigh and GRSA have booked over 200 conventions, meetings and group sporting events throughout Wake County that have been canceled, totaling more than 255,000 attendees and resulting in more than $110 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 34 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.

Public Events Impact:
More than 100 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.

Hotel Sector Impact:
As Phase 2 continues across the state through at least July 17, more Wake County hotels have begun reopening. Currently only six of the more than 160 hotel properties in Wake County are still temporarily closed. A complete list of Hotels Temporarily Closed can be found on visitRaleigh.com.

There has been a continued decrease in group travel to the area, but hotel occupancy throughout Wake County has continued to slightly trend upward over the past few weeks. According to STR, Wake County has remained above 40% hotel occupancy since the week of June 7-13.

Month of May 2020 Overall

Week of May 31-June 6, 2020

Week of June 7-13, 2020

Week of June 14-20, 2020

Week of June 21-27, 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.