The Nashville Convention and Visitors Corp. (NCVC) announced today October marked the single-greatest number of hotel rooms sold in one month in the city’s history, according to Smith Travel Research.
In addition, the occupancy tax, a key performance measure for the hospitality industry, experienced nearly 20 percent growth during the first quarter of FY 2013-14, teh NCVC said in a release.
According to STR, Nashville sold 603,087 hotel room nights during October. Among the top 25 markets in the U.S. for October, Nashville had the largest increases in rooms sold, occupancy, hotel revenue and supply. Nashville also saw the second largest increase in revenue per available room (revPAR) and the fifth largest increase in average daily rate (ADR).
“These latest figures reflect Nashville’s continued strength as a destination city for leisure business and convention travelers,” Mayor Karl Dean said in the release. “Hospitality has always been a significant economic engine in our city, and it’s rewarding to see the results of our past investments.”
October hotel data for Davidson County (per STR):
• Nashville sold 603,087 hotel room nights during the month of October, an increase of 9.4 percent over October 2012.
• Occupancy increased 4.7 percent over the previous year
• ADR increased 8.8 percent over the previous year
• RevPAR increased 13.9 percent over the previous year
• Hotel revenue increased 19 percent over the previous year
• Supply increased 4.5 percent over the previous year
The NCVC announced in August that FY 2012-13 collections reached an all-time high of $36,937,635, representing an increase of 8.6 percent compared to 2012. June 2013 revenues totaled $3,998,945, marking the highest collections in one month, exceeding the previous all-time high by 8.3 percent (June 2012).