Tampa's Tourism Revenue Doubled In Last Decade

TAMPA, FL — You might not like the way they hesitantly drive down unfamiliar roads with their blinkers flashing.

And it might annoy you when they invade the quiet beach where you hoped to spend a peaceful afternoon.

But you can't complain about the way they spend their money in Tampa Bay.

Tourists may not always be convenient, but they are always welcome, said Santiago C. Corrada, president and CEO of Visit Tampa Bay. And right now, Tampa Bay is a hot destination for tourists.

During the 2019 fiscal year, Tampa collected $35.4 million in Tourist Development funding, the largest ever recorded by the city's tourism bureau.

That increase was up 5 percent from the previous year, which was ahead of expectations and substantially better than many other areas of the state, said Corrada. In fact, revenues have now reached a level that is almost double that of only a decade ago.

“The past 12 months have been Tampa Bay’s time to shine as a destination for visitors from across the country and around the world,” said Corrada. “We’re seeing the results of that growth every day in terms of new builds, new jobsband new opportunities. We’re also thrilled that many of those visitors want to return as residents or investors in the future here in the hip, urban heart of Florida’s west coast.”

Nine of the 12 months of the budget year, which ended Sept. 30, produced records for Tourist Development funding.

September’s monthly total -- $2.87 million – was up 25.5 percent year-over-year and included more than $400,000 generated in August after the Hillsborough County Commission approved an increase in the county’s levy on hotel nights from 5 percent to 6 percent.

Meanwhile, Hillsborough County added more than 1,000 new hotel rooms, according to industry analyst STR Inc. – including the massive expansion of Seminole Hard Rock Hotel & Casino, the new Current Hotel in the Westshore District and the area's first dual Hampton Inn/Home2Suites property in the Channel District.

Several major properties also underwent renovations and expansions including the Marriott Water Street and the Epicurean.

Nearly 2,000 more rooms are either under construction or on the drawing board for 2020-22.

The developers of The Heights District, the 50-acre mixed-use destination along the Hillsborough River, has signed an agreement with Marriott International to bring its Moxy Hotel brand to the neighborhood. Plans call for a 153-room hotel that will occupy the first seven floors within a new, mixed-use 25-story tower. Construction is expected to begin in early 2020, with the hotel slated to open in 2022.

While hotel occupancy in 2019 remained consistent at 74.6 percent, room demand grew 4 percent, outpacing the growth in supply (3.3 percent).

Average room rates and profitability stayed even with the year before, which had been a record for the destination, according to STR Inc.

Also on the horizon are additions to key attractions such as Busch Gardens Tampa Bay, the expansion of Tampa International Airport and the addition of new international and domestic flights, and new cruise lines at Port Tampa Bay.

• See related stories:
• Celebrity Cruises To Return To Port Tampa Bay Next Year
• Tampa Airport Celebrates Opening Of 69 New Shops, Eateries, Spas
• Dramatic Implosion Of Airport Parking Garage Kicks Off Expansion
• Busch Gardens Unveils Ride Car For Tallest, Fastest Coaster
• Moxy Hotel To Be Next Major Addition To The Heights District
• Hillsborough County To Increase Hotel Bed Tax Aug. 1
• The Current Hotel Opens At Rocky Point
• Elvis' 24-Karat Gold Piano A Key Feature Of Hard Rock Hotel

Additionally, 2019 saw dramatic growth (38-46 percent) in awareness in out-of-state travel markets such as New York, Chicago, Toronto, Boston and Dallas.

Visit Tampa Bay reached 5.3 million households through its paid advertising, the highest-ever. That marketing ultimately produced 78,000 additional trips to Hillsborough County and $69 million in visitor spending, according to marketing analyst H2R Inc.

“It’s rewarding to observe the ways that, working together with our partners, we are cementing our identity as a fun, exciting and family-friendly vacation destination in a state where the competition for visitor spending is intense,” Corrada said.