March bed tax report cracks $3 million for first time
April 11, 2016 by Kevin Wiatrowski
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TAMPA (April 11, 2016) – Visit Tampa Bay and Hillsborough County reported more than $3.3 million in Tourist Development taxes in March – a record for the month that is more than 18 percent higher than the same period in 2015.
The March report reflected taxes collected on hotel room sales in February. The Tourist Development Tax, also known as the bed tax, is a 5 percent levy on hotel rooms and short-term stays.
March’s report brings the total bed tax collections for the first six months of Fiscal Year 2016 to just under $14.2 million, about 14 percent higher than this period last year.
The March report covers a period when Hillsborough County’s hotel occupancy averaged 85 percent and hotel revenues and profitability rose more than 8 percent over February 2015, according to analysis by industry expert STR Inc., formerly Smith Travel Research.
“March’s report has been the strongest to-date for the year and shows how well the Tampa Bay brand is resonating with visitors,” said Santiago Corrada, president and CEO of Visit Tampa Bay. “At a time when tourism is up in Florida and the U.S., Hillsborough County’s is still outpacing both of them as a tourism destination.”