FY 2014 Hotel Tax Collections Highest in City’s History June breaks record for best month ever
NASHVILLE – Nashville has reached a new fiscal year record for the highest annual hotel occupancy tax collections in the city’s history, the Nashville Convention & Visitors Corp (NCVC) announced today. While every month in the fiscal year broke a record for that respective month year over year, October, March and June broke the record for the highest monthly collections for a single month in the city’s history.
“Nashville’s strength as a destination city is at an all-time high, and this unprecedented growth reflects the immense appeal our city has for both leisure and convention travelers,” Mayor Karl Dean said. “The hospitality industry has always been an economic engine for our city, and I’m pleased that more than year after the opening of the Music City Center, we are setting several all-time records. All signs point to continued growth for the future, and I applaud all who work every day to make Music City one of the best destinations in the country.”
FY 2013-14 collections reached an all-time high of $44,939,895, representing an increase of 21.66 percent compared to FY 2012-13. June 2014 revenues totaled $4,946,257, marking the highest collections in one month, exceeding the previous all-time highs by 4 percent (March 2014) and 21 percent (October 2013). Since December 2010, Nashville’s hotel occupancy tax collections have experienced 43 consecutive months of growth.
“Whether it’s tax collections, media coverage or future business, once again we are seeing record-breaking growth,” said Ken Levitan, chairman of the NCVC board of directors and president of Vector Management. “The work we have done as a city and the collaboration across all areas of the industry is impressive. While we are enjoying the success the industry has experienced, we remain focused on long-term strategic issues to sustain our momentum and meet the demands of a growing visitor population.”
The NCVC announced in May that Nashville sold more than 640,000 rooms in March, breaking October 2013’s record for highest number of rooms sold in one month 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.