Despite a very dismal looking outlook at the beginning of the summer, the actual numbers for June are showing nearly even bed tax collections this year, compared to last year. In June, a total of $1,88,269.21 was collected. This compares to $1,946,037.92 in tax revenue that was collected in June of 2009. The actual variance is just over $61,000, or -3.17%.
This was an interesting summer, we had tons of things lined up to all but guarantee the best summer tourist season we’ve had in years. Ironically, right before the season began, there was what some may call a monstrous accident just a few short hundred miles away. After a summer of weekly and even daily threats, the damaged perception left our local industry practically starving for business and pleading with their customers to keep their reservations. The rental climate changed from one of knowing how the numbers were going to be all summer before Memorial Day, to guessing what the next week would hold for rental revenue. Shops and restaurants had no idea what to expect, but were bracing for the worst. Talking to retailers and resorts, numbers were way off this year. Obviously some fared better than others, but overall most suffered to some degree.
But lets get back to the bed tax numbers. The numbers were only down 3.17% this year. That doesn’t seem all bad, right? Well, you have to consider that a deficit of any amount is going to spread hurt across the board. You have to consider that with any new additions to the rental or retail inventory, plus some businesses ability to reach their customers over other businesses, that 3.17% can mean quite a different story for different people.
All in all, I think we are blessed to have done as well as we did, in Panama City Beach, despite the looming threat that impaled the perception of our beach this summer. Hopefully next year no outside forces will impede all the work that has been put into increasing our local tourism business.
July’s numbers should be out within the week, which will be the real test to see how the summer really fared. Stay tuned!
What a weekend! The World’s Greatest Pre-Season Tailgate Party continued on Saturday, August 28th 2010 with a Spirit Parade at Pier Park – where fans turned out to show support for their favorite teams. Numerous schools brought along cheerleaders, mascots and former players to be part of the parade, which included FSU, Georgia Tech, Alabama, Vanderbilt and more. Check out our pics! Continue reading “World's Greatest Pre-Season Tailgate Party Spirit Parade – in Pictures”
As part of the World’s Greatest Pre-Season Tailgate Party, country superstar Sara Evans performed hit after hit on the beach at the Boardwalk Resort on Friday, August 27th 2010. Even with the threat of further rain showers and some fairly blustery winds, the crowd was in great spirits as the wet weather stayed away and Sara put on a fantastic show! Continue reading “Sara Evans Plays the Beach at Boardwalk – in Pictures”
Your friends at www.condosaletrends.com have been searching for a little good news in the Panama City Beach Condo market. The beaches look great. Pier Park looks great. The new airport looks great. The condo market looks a little ragged.
The following is our analysis of sales and re-sales from the 75 buildings contained in the condosaletrends.com data base. Developer sales not listed in the MLS were not included because we cannot confirm the existence of or lack of seller concessions.
There were significantly more sales during the first three months of 2010 compared to 2009 with fewer sales since May. July sales took a steep downturn with approximately 40% fewer sales than 2009. August doesn’t look much better. The oil spill didn’t help but the primary reason is due to the weak economy and the generally pessimistic outlook held by potential buyers.
Continue reading “Panama City Beach Condo Market Update”
The oil spill threat this summer took it’s toll on the opportunity for us to have a slammin’, jammin’ summer, but it wasn’t all bad. Our image was certainly tarnished, our tourism numbers were down a bit, but on the plus side, the Panama City Beach Convention and Visitor’s Bureau received $2 million from BP to be used for marketing the beaches of Panama City Beach. This influx of marketing money has saved our CVB $750,000 from their regular marketing budget this year so far and has freed up some cash to use in other arenas.
Continue reading “Seafood Fest May Get Another $150k from CVB”
The Pier Park summer concert series may be over for the 2010 season – but tonight Aaron Bessant Park will be showcasing one of the best concerts of the year – and it’s all part of the World’s Greatest Pre-Season Tailgate Party! This exciting 3 day sporting extravaganza starts today with a celebrity golf tournament at Hombre Golf Club, and kicks off with a big bang as the LoCash Cowboys perform their dynamic live show tonight! Continue reading “World's Greatest Pre-Season Tailgate Party Kicks Off – LoCash Cowboys Play Tonight!”
One of the cool things about bringing in Southwest Airlines to the new Northwest Florida Beaches International Airport was that we get to take advantage of SWA’s amazing marketing success. This proven track record of creating an immense brand awareness so far has proven invaluable so far in marketing Panama City Beach, and it couldn’t come at a better time.
Continue reading “Southwest Airlines Marketing Working”