tourism economics snapshot october 2020 tdc meeting
TRANSCRIPT
TOURISM ECONOMICS SNAPSHOT
October 2020 TDC Meeting
October TDC Meeting
Monthly Totals- August 2020
October TDC MeetingSource: STR
August 2019 August 2020 % Change
Room Nights
Sold405,998 305,524 -24.7%
Occupancy 64.4% 47.4% -26.4%
Average Daily
Rate$133.58 $121.61 -9.0%
Revenue per
Available Room$85.98 $57.59 -33.0%
Monthly Market Comparison –August 2020
Source: STR October TDC Meeting
Location
Room
Nights
Sold
%
Change
Average
Daily Rate
%
Change2
Revenue
per
Available
Room
%
Change3Occupancy
%
Change4
St. Pete/Clearwater 305,524 -24.7% $121.61 -9.0% $57.59 -33.0% 47.4% -26.4%
Orlando 929,307 -66.2% $83.25 -22.2% $23.85 -67.6% 28.7% -58.3%
Miami-Dade 545,241 -57.5% $109.85 -25.0% $37.29 -64.4% 33.9% -52.5%
Fort Lauderdale 458,740 -34.1% $95.48 -13.6% $43.29 -44.4% 45.3% -35.6%
Tampa 336,690 -31.1% $87.63 -18.3% $40.33 -44.5% 46.0% -32.1%
Palm Beach County 213,163 -34.8% $127.23 +5.2% $49.32 -34.3% 38.8% -37.5%
Florida Keys 167,322 -22.0% $222.79 +2.6% $121.14 -20.9% 54.4% -22.9%
Bay County 162,189 -5.6% $139.21 -17.3% $83.75 -26.4% 60.2% -11.0%
Sarasota/Bradenton 160,883 -8.6% $113.20 +3.9% $53.39 -8.7% 47.2% -12.1%
Fort Myers 159,508 -21.9% $122.95 +6.3% $52.74 -17.3% 42.9% -22.1%
Osceola County 131,637 -61.8% $67.57 -11.6% $15.63 -62.9% 23.1% -58.1%
Naples 98,668 -21.3% $179.86 +11.5% $71.30 -13.8% 39.6% -22.7%
Florida 5,447,781 -40.1% $107.00 -10.6% $44.64 -43.5% 41.7% -36.7%
Fiscal Year 2020 Totals
Source: STR October TDC Meeting
FY 19 FY 20 % Change
Room Nights
Sold4,900,286 3,838,807 -21.7%
Occupancy 72.5% 56.3% -22.3%
Average Daily
Rate$155.34 $142.29 -8.4%
Revenue per
Available Room$112.38 $80.55 -28.3%
Tourist Development Tax: August Five Year Comparison
Source: Pinellas County Tax Collector October TDC Meeting
*Starting Jan 1st 2016 Pinellas raised the TDT tax from 5 to 6 centsFor like comparison, the percent change from 2015-2016 is 5.49%
Tourist Development Tax: Year over Year Growth
Source: Pinellas County Tax Collector October TDC Meeting
Vacation Rentals – August 2020 Totals
Source: AirDNA October TDC Meeting
August 2019 August 2020 % Change
Room Nights
Sold122,549 102,931 -16.0%
Occupancy 54.2% 52.3% -3.5%
Average Daily
Rate$221.94 $238.18 +7.3%
Revenue Per
Available Room$120.21 $124.48 +3.6%
Vacation Rentals -Fiscal Year 2020 Totals
Source: AirDNA October TDC Meeting
FY19 FY20 % Change
Room Nights
Sold1,327,099 1,291,448 -2.7%
Occupancy 60.7% 56.6% -6.8%
Average Daily
Rate$229.21 $234.55 +2.3%
Revenue Per
Available Room$139.19 $132.12 -5.1%
Top Arrival Origin Markets - August
Source: Arrivalist October TDC Meeting
In State Overnight Arrivals Out of State Overnight Arrivals
*Overnight Arrival - An overnight arrival is measured as one where the user has traveled a minimum of 50 miles to Pinellas and spent at least 1 day overnight in the destination.