ORLANDO-The Orlando/Orange County Visitors and Convention Bureau monitors the local tourism industry’s health by number of visitors. But county comptroller Martha O. Haynie does it by dollar figures, as in monthly room tax collections at 115,000 hotel and motel rooms and short-term rentals. Right now, the tourism industry is in good health, she reports.

Haynie reports June tax revenue of $9.7 million was the highest June amount generated since the county started the 5% tax collections in 1979. “Cumulative collections exceed cumulative collections for last year by nearly 18% ($12.6 million) and budget projections by 10% ($7.7 million,” Haynie says in her monthly revenue compilation.

She adds, “This is also the 11th consecutive month where collections have exceeded collections of the same month the previous year.” Her staff had budgeted slightly more than $8.8 million in June revenue but collections topped that number by $887,900.

For the nine-month period, since the county’s fiscal year began Oct. 1, 2003, Haynie’s staff projected tax revenue of $77.2 million. Actual collections surpassed that number by $7.7 million.

May collections totaled $9 million, a 23% increase over May 2003. Local tourism industry consultants and hotel investment brokers tell GlobeSt.com tourism should grow by at least 20% at year end compared to 2003.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.