The Richmond Marriott – in the heart of the race events – was completely booked for the last weekend of September. Photo by Jonathan Spiers.
A continuing climb in tourism helped the Richmond region reach another record high in tax receipt returns from hotel sales last fiscal year.
Hotel room sales reached $329 million during the 2015-16 fiscal year, eclipsing the previous year’s record by $28 million. Tax collections from the sales brought in $26.3 million – also beating last year’s mark by 9.5 percent – for Henrico, Hanover and Chesterfield counties and the city of Richmond.
Last fall’s UCI Road World Championships filled area hotels. Photo by Jonathan Spiers.
Those localities saw respective increases of 8.3, 12.5, 10.3 and 10.6 percent, respectively. Data compiled by Smith Travel Research showed the average daily rate of hotels in the region was up 7.7 percent, and revenue per available room, or RevPar, was up 10.5 percent.
While last fall’s UCI Road World Championships helped fill area hotels, particularly downtown, Jack Berry, president of Richmond Region Tourism, pointed to the Virginia Museum of Fine Arts Pablo Picasso exhibition in 2011 as a turning point for tourism in the region. Tax returns from hotel sales have grown every year except for one since then, with tax receipts averaging 6.9 percent growth per fiscal year.
“Washingtonians discovered us then, and we’ve never looked back,” Berry said of the art exhibit.
The region was home to 155 hotels and 17,508 hotel rooms in 2015, as well as five bed-and-breakfasts and a hostel, according to Richmond Region Tourism’s count.
Hanover County saw the largest increase in tax receipts from hotel sales at 12.5 percent. The county has the smallest number of hotels and rooms of the jurisdictions studied by Richmond Region Tourism. All four jurisdictions saw at least an 8 percent increase in tax returns from hotel sales.
Fairfield Inn & Suites is set to open this fall in Winding Brook. Rendering courtesy of Holladay Properties.
“We all do well when the region does well,” said Edwin Gaskin, Hanover County’s economic development director.
Gaskin said a Fairfield Inn & Suites by Marriott is opening in the fall along the Lewistown Road exit of Interstate 95. There is already a Country Inn & Suites in that area, and he expects more hotel development to sprout along the corridor once a 350,000-square-foot outlet mall opens there.
“Several hoteliers are waiting for that build,” Gaskin said.
Looking forward, Richmond Region Tourism expects sports tourism to continue to fuel hotel sales in the area. Danielle Vincenti, the group’s sports development manager, said people visiting the area for sporting events, such as the IWLCA STX Capital Cup girls lacrosse tournament held two weekends ago, account for half of Richmond’s tourists that aren’t here to visit friends or family.
The region should also get a boost in hotel sales from the Oct. 4 vice presidential debate, which will be held at Longwood University in Farmville. Berry said the lack of hotel options there will prompt the 3,000 or so media members expected to cover the debate to look to Chesterfield County and Richmond for options.
“It’s great that Longwood’s got it, but we’re working behind the scenes on it, too,” Berry said. “Richmond is the recipient of the benefit.”
Data sources used by Richmond Region Tourism in its findings included: hotel tax receipts from individual jurisdictions; occupancy numbers from Smith Travel Research; repeat visitor figures from market researcher Longwoods International; and tourism data from the Virginia Tourism Corporation.
The Richmond Marriott – in the heart of the race events – was completely booked for the last weekend of September. Photo by Jonathan Spiers.
A continuing climb in tourism helped the Richmond region reach another record high in tax receipt returns from hotel sales last fiscal year.
Hotel room sales reached $329 million during the 2015-16 fiscal year, eclipsing the previous year’s record by $28 million. Tax collections from the sales brought in $26.3 million – also beating last year’s mark by 9.5 percent – for Henrico, Hanover and Chesterfield counties and the city of Richmond.
Last fall’s UCI Road World Championships filled area hotels. Photo by Jonathan Spiers.
Those localities saw respective increases of 8.3, 12.5, 10.3 and 10.6 percent, respectively. Data compiled by Smith Travel Research showed the average daily rate of hotels in the region was up 7.7 percent, and revenue per available room, or RevPar, was up 10.5 percent.
While last fall’s UCI Road World Championships helped fill area hotels, particularly downtown, Jack Berry, president of Richmond Region Tourism, pointed to the Virginia Museum of Fine Arts Pablo Picasso exhibition in 2011 as a turning point for tourism in the region. Tax returns from hotel sales have grown every year except for one since then, with tax receipts averaging 6.9 percent growth per fiscal year.
“Washingtonians discovered us then, and we’ve never looked back,” Berry said of the art exhibit.
The region was home to 155 hotels and 17,508 hotel rooms in 2015, as well as five bed-and-breakfasts and a hostel, according to Richmond Region Tourism’s count.
Hanover County saw the largest increase in tax receipts from hotel sales at 12.5 percent. The county has the smallest number of hotels and rooms of the jurisdictions studied by Richmond Region Tourism. All four jurisdictions saw at least an 8 percent increase in tax returns from hotel sales.
Fairfield Inn & Suites is set to open this fall in Winding Brook. Rendering courtesy of Holladay Properties.
“We all do well when the region does well,” said Edwin Gaskin, Hanover County’s economic development director.
Gaskin said a Fairfield Inn & Suites by Marriott is opening in the fall along the Lewistown Road exit of Interstate 95. There is already a Country Inn & Suites in that area, and he expects more hotel development to sprout along the corridor once a 350,000-square-foot outlet mall opens there.
“Several hoteliers are waiting for that build,” Gaskin said.
Looking forward, Richmond Region Tourism expects sports tourism to continue to fuel hotel sales in the area. Danielle Vincenti, the group’s sports development manager, said people visiting the area for sporting events, such as the IWLCA STX Capital Cup girls lacrosse tournament held two weekends ago, account for half of Richmond’s tourists that aren’t here to visit friends or family.
The region should also get a boost in hotel sales from the Oct. 4 vice presidential debate, which will be held at Longwood University in Farmville. Berry said the lack of hotel options there will prompt the 3,000 or so media members expected to cover the debate to look to Chesterfield County and Richmond for options.
“It’s great that Longwood’s got it, but we’re working behind the scenes on it, too,” Berry said. “Richmond is the recipient of the benefit.”
Data sources used by Richmond Region Tourism in its findings included: hotel tax receipts from individual jurisdictions; occupancy numbers from Smith Travel Research; repeat visitor figures from market researcher Longwoods International; and tourism data from the Virginia Tourism Corporation.