May 20, 2024

Press Release

Tampa Bay Tourism Records Second-Highest Collection Month Ever

Hillsborough County March tourism collections reach more than $7 million for the month

| 5/1/2024

Tampa, FL (May 1, 2024) – The hospitality industry in Hillsborough County continues to outpace its competitive set, underlined by March TDT collections (February collections) reaching an impressive $7,290,274, a remarkable 7.3% increase from the previous record set for the same month during FY2023. As the second-highest month in the history of the County, the achievement underscores a substantial 21.0% increase over March in fiscal year 2022.

Cumulative collections for the fiscal year reached $32,035,007 at the half-way stage of the fiscal year. At the same time, hotel occupancy for March stayed strong — coming in at 81.5% as Hillsborough County continues to demonstrate consistency. The Average Daily Rate (ADR) reached $193.96 with RevPAR coming in at $158.12.

"The strength of the tourism and hospitality community in Hillsborough County, and its influence on our economy, reinforce March's exceptional collections and substantial hotel revenue," said Santiago C. Corrada, President and CEO of Visit Tampa Bay. “With even more of our remarkable restaurants receiving MICHELIN recognitions, including The Tampa EDITION and Palihouse Hyde Park Village receiving an inaugural MICHELIN Key recognition, our marketing and sales efforts in domestic out-of-state markets continue to secure Tampa Bay’s status as a world-class destination."

Tampa Bay maintained its position as the number two ranked destination in hotel occupancy in both convention and leisure competitive sets, while holding the top three positions in both ADR and RevPAR against meetings destinations. The top origin flight markets for travelers to Tampa Bay for the month were Detroit, New York, Boston, and Chicago, while Atlanta and Orlando continue to hold leadership positions for drive market focuses.

Hotel Taxable Revenue for February, collected in March, reached $121,501,863, reflecting a notable 7.2% increase from the previous record set in February of FY 2023. This remarkable growth also translates to a significant 21.1% increase compared to February in fiscal year 2022, highlighting the sustained upward trend.

As Visit Tampa Bay gears up to celebrate National Travel & Tourism Week, shining a light on those who pour their heart into Tampa Bay’s tourism and hospitality community, the county continues to attract visitors and host successful events affirming its status as a leading tourist hotspot, fostering economic growth and prosperity.

ABOUT VISIT TAMPA BAY

The heart of Florida’s Gulf Coast beats in Tampa Bay. Visit Tampa Bay encourages adventure with a relaxing vibe to create vacation experiences that are authentically Tampa Bay. As a not-for-profit corporation certified by Destinations International’s Destination Marketing Accreditation Program (DMAP), we work with hundreds of partners to tell the world the story of Tampa Bay. Treasure awaits. For more information, visit our website.

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