PETER CRANIS: May Tourist Development Tax Was $2.173 Million – a 6.5% Increase Compared to Last Year

For the year Tourist Development Tax is at nearly $18.1 million, up 3.9%

BREVARD COUNTY, FLORIDA – May Space Coast Tourist Development Tax (TDT) collections have come in at $2.173 million – a very nice 6.5% increase compared to last year’s May ($2.041 million) and a bigger 11.7% increase compared to the May 2023 number of $1.945 million.

This is a record for the month of May and only the second time we have broken the $2 million mark in May. It is also the 19th-best month in Tourist Development Tax history.

For the year, we are at $18.1 million, up 3.9% over the same time last year.

Looking at Tourist Development Tax by type, hotels represented 69.5% of the total for the month, which is up from the 67% of last month.

Hotel Tourist Development Tax for the month was nearly $1.51 million, which was 11% up compared to the prior year.

Vacation rentals were at 29.4% of TDT for the month, down from 32% last month. Vacation rental revenue for the month was $638,000, down 2% from the prior year.

In terms of hotel/motel revenue by city, Cocoa Beach and Cape Canaveral were at 35% of the total for the month, and Melbourne and the Beaches were at 29% as a percentage of the total.

Looking ahead, June is tracking close to June of last year. Obviously, we are very interested in how summer (June, July, August) performs, and June will be a good indicator of that.

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– Peter Cranis, Space Coast Office of Tourism Executive Director

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