Hillsborough County hotels hit $1 billion in annual taxable revenue

For the first time, hotels in Hillsborough County have hit $1 billion in annual taxable revenue.

The county’s hotels saw a 43.1% increase over revenues in 2021, according to Visit Tampa Bay. The overall revenue, which sat just above $1.02 billion, is up from $700 million in 2020, the year of the pandemic.

That billion-dollar figure translates into $61.3 million in bed tax money during 2022.

“Hitting our billion-dollar hotel revenue goal is a massive achievement, not just for our hotels, but for all our partners and the community,” Visit Tampa Bay CEO Santiago Corrada said in a statement.

Tampa tourism strengthened rapidly after the pandemic’s initial hit, with Hillsborough hotels bringing in more in 2021 than they did in 2019.

December’s bed tax total of $4.9 million is the 20th consecutive month of record collections, according to Visit Tampa Bay. During the month, hotels saw an average occupancy rate of 71.4 percent with average daily rates of $155.41.

Last month, Visit Tampa Bay asked Hillsborough County for a $5.5 million boost in its annual budget.

“When you invest money, you make money,” Corrada said at the time. “And when you invest in us, there’s a return on that investment.”