Tourism Development Tax
HILLSBOROUGH COUNTY TOURISM CONTINUES TO SHOW GROWTH
Calendar year hotel revenue totals set to surpass 2023 records
Tampa, FL (January 23, 2024) – With one month remaining in the calendar year, Visit Tampa Bay is reporting Hillsborough County has already reached $59.9 million in TDT collections, positioning Tampa Bay to surpass the 2023 record collections of $62 million and again achieve over $1 Billion in hotel revenues.
Despite the general softening of hospitality numbers across Florida and the United States, Hillsborough County is experiencing a steady increase in revenues and visitation against its competitive sets. In fact, December numbers, reflecting November collections, stand at $4,536,750. While slightly below the fiscal year 2023 record, this figure represents an impressive 20.0% increase compared to the same month in fiscal year 2022. And according to STR, Inc. ADR growth of 8% for December 2023 versus December 2022 is the highest level of improvement in the comp set while growth in room revenue is the second best in the same set.
“The evolution of Tampa Bay as a tourism destination is evident as the revenue numbers continue to show growth in higher yield business. To continue to grow revenue without complimentary growth in hotel availability proves that our strategies to target corporate business and higher net worth visitors is providing results,” said Santiago C. Corrada, President and CEO of Visit Tampa Bay.
In November 2023, taxable hotel revenue reached $75,586,266, marking an 18.2% rise compared to the same month in the fiscal year 2022. For December 2023, hotel occupancy stood at 68.6%, with an Average Daily Rate (ADR) of $150.88 and RevPAR at $103.48.
ABOUT VISIT TAMPA BAY
The heart of Florida’s Gulf Coast beats in Tampa Bay. Visit Tampa Bay encourages adventure with a relaxing vibe to create vacation experiences that are authentically Tampa Bay. As a not-for-profit corporation certified by Destinations International’s Destination Marketing Accreditation Program (DMAP), we work with hundreds of partners to tell the world the story of Tampa Bay. Treasure awaits. For more information, visit our website.