PETER CRANIS: December 2022 Tourist Development Tax Comes in at a Record $1.879 Million

This is 20% ahead of the previous December and the 21^st consecutive month of “best month for that month” results.

We are now three months into our new fiscal year, so this is a good beginning to the year and rounds out the Fall, beating all previous Fall performances.  Combined, October, November, and December are at $5.4 million, 23% ahead of the prior year, which was the previous high.

Looking at TDT by type, hotels represented 67% of the total for the month (down from 70% last month), and vacation rentals were 31% of TDT (up from 28% last month).  In terms of hotel/motel revenue by city, Cocoa Beach and Cape Canaveral were at 34%, and Melbourne and the Beaches were just under 31% as a percentage of the total.

Looking ahead to January, we believe it will be very close to another record month for that month, exceeding the high of $1.86 million last year.

After the record-breaking year, the TDT had last year of $23.33 million, this is certainly a good start to matching that number – but a long way to go.   Typically Fall is not the strongest season, with the Spring and Summer seasons leading the way, respectively.