Lodging tax collections in Wake County for the month of October were the highest single-month-totals ever collected, at $2.43 million, while prepared food and beverage tax collections were the highest for the month of October on record, at $2.5 million, according to figures compiled by the Greater Raleigh Convention and Visitors Bureau. This shows tourism in Wake County has continued the upward trend of record-breaking revenues for both hotel occupancy and prepared food and beverage tax collections during calendar year 2016.
Wake County October lodging tax collections posted the best month on record, pulling in $2,433,410 and representing an 18 percent increase over October 2015. Hotel occupancy was 82.6 percent in October, up 12.1 percent for the month compared to October 2015. This was 8.2 percent higher than the state average and 14 percent higher than the national hotel occupancy averages in October. The occupancy growth rate of 12.1 percent also outpaced the state (8.9 percent) and national (-0.3 percent) averages for the month.
The increases can be attributed to several major events taking place in Wake County in October including:
▪ North Carolina Community College System’s 2016 Conference which had 3,500 attendees
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▪ The North Carolina League of Municipalities 2016 Annual Conference which had 2,500 attendees
▪ The Wildlife Society’s 23rd Annual Conference which had 1,500 attendees
▪ The 2016 ACC Cross Country Championships which had 300 participants and several hundred spectators
As a result of the increased visitation during the month, Wake County prepared food and beverage tax collections also posted the best October on record, with $2,251,653, a 9.1 percent increase over October 2015.