PETER CRANIS: February Tourist Development Tax Comes in at Unprecedented $2.68 Million

This is 17% ahead of the previous February, which is typically a gap month between the fall and our spring break period.

In the past, February was not looked upon as one of our stronger months, but that has now changed in the last two years, and this February was the second-best month in the history of TDT collection.

Year to date, we are at $10.43 million, which is 22% ahead of last year’s previous high of $8.55 million.  We are also now on 23 straight months of “best month for that month.”  All indications are that it should continue through Spring.

Looking at TDT by type, hotels represented 66% of the total for the month (up from 59% last month), and vacation rentals were at 33% of TDT (down from 39% last month).

In terms of hotel/motel revenue by city, Cocoa Beach and Cape Canaveral were at 34%, and Melbourne and the Beaches were at 28% as a percentage of the total (down from 31% last month).

Looking ahead to March, which is typically our strongest month of the year, we believe we will most likely exceed last year’s high of $2.8 million.  If things go extremely well, it is possible we could see TDT top $3 million a month for the first time in history!

February TDT Reports