Hillsborough County generated $33.8 million from bed tax.
TAMPA — Setting another new benchmark for tourism revenue, Hillsborough County collected nearly $34 million in revenue from the tourist development tax, also known as the bed tax, during the budget year ended Sept. 30.
According to a press release issued by destination marketing agency Visit Tampa Bay, the $33.8 million in tourism revenue represents a 10.8% increase over fiscal year 2017. The bed tax monies will benefit major public facilities such as Raymond James Stadium, Amalie Arena and the Tampa Convention Center.
“This has been a tremendous year for Tampa Bay tourism," states Santiago Corrada, president and CEO of Visit Tampa Bay, in the release. “Tourism, as an economic engine, runs 24 hours a day and reaches nearly every corner of our community. Our collaboration over the past 12 months promoting Hillsborough County nationally and internationally as a destination for conventions, leisure travel and financial investment continues to pay major dividends for Hillsborough County and the region as a whole. We should all be extremely proud of this achievement.”
According to the release, Hillsborough County’s hotel revenues grew by 8.5% in fiscal year 2018, to more than $718 million. The county’s supply of hotel rooms also increased, rising by 4%.
Revenue per available room (RevPAR), an indicator of hotel profitability, grew 5.8% for the 12-month period ended Sept. 30, the release states.