PETER CRANIS: Tourism Tax Collections for Fiscal Year Come in at Record-Breaking $26 Million Mark

Space Coast hotel inventory is up to 11,438 rooms now versus 10,857 a year ago

BREVARD COUNTY, FLORIDA – September Tourist Development Tax (TDT) collections have come in at $1.628 million – a .7% decrease compared to last year’s September ($1.639 million) and more importantly, we now have our final number for the Fiscal Year 2024-25.

We finished the year at just under $26 million – $25,957,657 – a new record for a single fiscal year. This is 2.8% over the last fiscal year 2023-24 ($25.26 million) and 1.6% over FY 2022-23, which was the previous high of $25.54 million.

While we are excited to have reached a new high, we are cautiously optimistic as we enter a new FY 2025-26.

We are seeing mixed signals in terms of hotel data, including lower occupancy numbers and softening of the Average Daily Rate (ADR).

At the same time, we have a number of positive factors, including more hotel inventory with 11,438 rooms now versus 10,857 a year ago.

We are also hearing positive signs from the Port with 18 planned homeported ships next year versus 16 this year.

And, we expect the increase in launch activity to continue as we go into next year.

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– Peter Cranis, Space Coast Office of Tourism Executive Director

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