PETER CRANIS: Year to Date Brevard Tourism Tax is Eye-Popping $24.1 Million, 10.9% Ahead of Last Year’s $21.74 Million
By Peter Cranis, Space Coast Office of Tourism Executive Director // October 8, 2023
equates to $482 million in total lodging revenue
BREVARD COUNTY, FLORIDA – August Tourist Development Tax (TDT) has come in at $1.706 million – down 6.4% from last year’s $1.823 million and up 22.7% compared to the August 2021 number of $1.39 million.
August is typically the slowest of the three summer months so there is no surprise that it slowed a little towards the end of summer.
When looking at June, July, and August combined, we were at $6.146 million which was up ever so slightly compared to last year’s $6.144 million – making this the all-time high summer in history – which is quite an accomplishment considering the head winds we have faced and seeing what is happening in other destinations around us.
Daytona and Orlando have both had declining TDT for the last several months and are tracking lower overall than last year.
Year to date, we are at $24.1 million which is 10.9% ahead of last year’s previous high of $21.74 million. This equates to $482 million in total lodging revenue.
Over the last 12 months, we have collected $25.7 million in TDT and if we finish the year with September hitting close to the same numbers as last year ($1.59 million), or slightly down, TDT will be $25.6 to $25.7 million, an all-time record – the highest point in TDT history.
Looking at TDT by type, hotels represented 67% of the total for the month (up from 65% last month). Hotel TDT for the month was $1.15 million compared to last year’s $1.26 million. YTD hotels are up 2% in terms of revenue, collecting $15.85 million so far which equates to $317 million in total revenue.
Vacation rentals were at 32% of TDT (down from 34% last month) and have increased 6% so far this year with $7.9 million in TDT and $158 million in revenue.
In terms of hotel/motel revenue by city, Cocoa Beach and Cape Canaveral were at 34% of the total and generated $8.15 million so far this year which is $163 million in total revenue, up 6%.
Melbourne and the Beaches were at 27% as a percentage of the total and generated $6.65 million so far this year which is $133 million in total revenue, down 1.8%. Looking ahead to September, we believe we are tracking to be very close to last September’s TDT collection.
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– Peter Cranis, Space Coast Office of Tourism Executive Director