ASHEVILLE – Revenue generated from lodging sales taxes is surging to record levels despite physical distancing and other restrictions faced by tourists.
The Buncombe County Tourism Authority, the independent body that controls the county’s hotel taxes, has increased its revenue projection 72% in the face of spiking demand for vacation rentals.
Originally estimating $14.8 million in taxes, the TDA is now expecting to generate $25.4 million, a number higher than revenues before COVID-19, Vic Isley, president and CEO of Explore Asheville and the TDA, said May 5.
“During the spring of 2020 – the world – including the Buncombe County Tourism Development Authority – was at the beginning of an unprecedented global pandemic. Not knowing what the next year would bring, the TDA board approved a conservative forecast,” Isley said.
The forecast was revised for the fiscal year, which runs through June 30, “due to county-wide vacation rental sales being up 42% year to date,” Isley said in an email, calling it “good news for local residents participating in the vacation rental market.”
Read the full Citizen Times article HERE.
Learn more about Hatteras Sky’s hospitality portfolio in Asheville HERE.