Orange County hotel tax recovery in sight
After an 18-month streak of declines, hotel revenues have begun to look promising in December.
Since 2008, the county plagued by a period of monthly declines, collected some $12.4 million or a 0.3% increase in taxes from short-term rentals and hotels. Some constituents from Orange County viewed the small increase as a new beginning for 2010.
But many optimists warn not to pop the cork on the bottle just yet since the county is still behind in collections compared with the same time last year. Ringing in roughly $34.8 million, collections fell by about $2.1 million from just one year ago.
Projects such as the Citrus Bowl, Performing Arts Center, and other civic building projects are all threatened by the low "resort tax" collection. But the country still maintains a ray of hope.
Just below 2%, hotels including Disney World and other hoteliers reserved more than 60% on the average of their rooms in December. Although this should not be called a trend, it is more like a "feel good" experience for the industry as a whole.
Since 2008, the county plagued by a period of monthly declines, collected some $12.4 million or a 0.3% increase in taxes from short-term rentals and hotels. Some constituents from Orange County viewed the small increase as a new beginning for 2010.
But many optimists warn not to pop the cork on the bottle just yet since the county is still behind in collections compared with the same time last year. Ringing in roughly $34.8 million, collections fell by about $2.1 million from just one year ago.
Projects such as the Citrus Bowl, Performing Arts Center, and other civic building projects are all threatened by the low "resort tax" collection. But the country still maintains a ray of hope.
Just below 2%, hotels including Disney World and other hoteliers reserved more than 60% on the average of their rooms in December. Although this should not be called a trend, it is more like a "feel good" experience for the industry as a whole.
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7:14 AM
