ORANGE COUNTY, Fla. – Orange County Comptroller Phil Diamond revealed Wednesday that tourist development tax (TDT) collections received for December saw another dip compared to years past.
Metro Orlando saw collections coming in at $29,845,200, with Metro Orlando hotel occupancy down by 3% to an average of 70.5% from December 2022′s 72.6%, Diamond said in a news release.
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Other highlights from the collection report include:
- December 2023 collections dipped below December 2022 figures by $1.4 million or 4.4%.
- This marks the eighth month out of the last nine that experienced a year-over-year decrease. The lone exception was September, which saw a modest increase of 0.8%.
- On a fiscal year to date basis, collections are down by $4.6 million or 4.9%.
- December 2023 collections exceeded November 2023 collections by $160,100.
- Comparing December 2023 to December 2021, collections were higher by $1.5 million.
Hotel demand also decreased by 2%, while the average daily rate for Orlando hotels saw a 2.4% decrease to $204.49.
Reflecting on the overall travel performance in 2023, Diamond said Orlando and Florida experienced a shift as the surge in domestic leisure travel from 2022 waned, with travelers returning to other U.S. and international destinations.
While metro Orlando occupancy slightly trailed behind 2022, the average daily rate for hotels in the area increased by 3.8% to $192.98. Additionally, robust group travel contributed to a record-high attendance at the Orange County Convention Center, hosting 125 citywide events compared to 111 in 2022, with total attendance rising to 1,397,477, the report stated.
Orlando International Airport achieved a new record with a 15.1% increase in total passengers year-over-year.
On the TDT reserve side, Renewal & Replacement Reserves (R&RR) increased by $9.1 million in December, with the Other Authorized Uses Reserves currently at $65.1 million.
This reserve will help offset future expenses associated with approved projects and programs, including the Convention Center 5a expansion project, Camping World Stadium renovations, Kia Center renovations, additional Arts and Application Review Committee (ARC) funding, and the UCF football stadium tower project.
“Our latest research indicates a positive start to 2024 compared to this same time last year,” said Casandra Matej, Visit Orlando’s president and CEO. “Orlando hotels show a 3% increase in on-the-books room nights for the first quarter. Orlando’s airline services are expanding, resulting in an 8% increase in direct seat capacity into area airports. Advance airline ticket sales into Orlando for the first quarter of 2024 from global origins are pacing 8% ahead, indicating sustained interest and demand in the destination.”
The January TDT collections report is slated for release in early March.
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