FY 2012-13 Hotel Tax Collections Highest in City’s History
June Breaks Record for Best Month Ever
NASHVILLE, Tenn. – The Nashville Convention & Visitors Corp (NCVC) announced today that Nashville has reached a new fiscal year record for the highest hotel occupancy tax collections in the city’s history. In addition, the occupancy tax, a key performance measure for the hospitality industry, broke monthly records in 11 out of 12 months, with June marking the highest collections for a single month ever.
“Nashville’s strength as a destination city is at an all-time high, and these record-breaking figures reflect the immense appeal our city has for both leisure and business travelers,” Mayor Karl Dean said. “The hospitality industry has always been a significant economic engine in our city, and these figures further validate the investments we have made in it. We are optimistic about continued growth as business at the Music City Center continues to ramp up.”
FY 2012-13 collections reached an all-time high of $36,937,635, representing an increase of 8.6 percent compared to 2012. June 2013 revenues totaled $ 3,998,945, marking the highest collections in one month, exceeding the previous all-time high by 8.3% (June 2012).
“Whether it’s tax collections, media coverage or future business, we are exceeding the marks at every level,” said Butch Spyridon, president and CEO of the NCVC. “The industry has seen success across the board. While we recognize the speed at which Nashville has grown will stabilize, our focus for the future is ‘the new normal’ -- sustaining our growth and continuing to protect the authenticity of our music brand.”
The NCVC sold 1,176,683 future room nights for FY 12-13, the highest in the city’s history.
The Nashville Convention & Visitors Corp
The mission of the Nashville Convention & Visitors Corp is to maximize the economic contribution of the convention and tourism industry to the community by developing and marketing Nashville as a premier destination. Visit the NCVC’s website at www.visitmusiccity.com.