FY 2011-12 HOTEL TAX COLLECTIONS HIGHEST IN CITY'S HISTORY
October, March and June Break Monthly Records
Nashville Convention & Visitors Bureau (NCVB) announced today
that Nashville has reached a new fiscal year record for the highest
occupancy tax collections in the city’s history. The occupancy
tax, a key performance measure for the hospitality industry, also had
record-breaking months in October, March and June. Collections began on a
steady growth track beginning in December 2010 and have been
consistently rising since that time.
“Nashville’s strength as a destination city is reflected in the last 19 consecutive months of impressive, record-breaking growth,” Nashville Mayor Karl Dean said. “The hospitality industry has always been a significant economic engine in our city, and I’m pleased that we’ve set several all-time highs. These results underscore our vitality to both leisure and business visitors, which will only continue to grow when Music City Center opens next year. I applaud all who work every day to make Music City one of the best destinations in the country.”
FY 2011-12 collections reached an all-time high of $28,348,201, representing an increase of 24.5 percent. Revenues for the month of June totaled $ 3,077,965, marking the highest monthly tax collections and first time collections have been higher than $3 million. The figure represents an increase of 16.5 percent compared to 2011.
“These numbers are further evidence of the strength and resiliency of the industry,” said Butch Spyridon, president and CEO of the NCVB. “Music City is an authentic first-class destination with so much to offer – great sports, food, attractions and live music at the helm. We’ve had our best year ever and Nashville is in prime position to see even greater results in its future.”
Beginning in June 2011, Nashville's hotel tax collections began breaking monthly records. The city experienced continued momentum in subsequent months, largely fueled by great attendance at conventions and huge leisure weekend business. In July, the NCVB announced it added more than one million rooms to the books during fiscal year 2011-12.
The Nashville Convention & Visitors Bureau
The mission of the Nashville Convention & Visitors Bureau 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 NCVB’s website at www.visitmusiccity.com.