September Bed Tax Numbers up 7% Year Over Year

Looking at the bed tax revenue numbers for August, September’s had been released at the beginning of the month!  It’s always super insightful to see where September falls as for many, it’s the last big hooray for the summer tourism season.  For many still, October proves a strong month as fall tourism is popular at the beach before November and December drop sharply.

This September didn’t feel as frenzied with the lack of TDC planned events like we had last year, but at Panama City Beach Luxury Properties, we were still sold out each weekend through the month.  In addition, most of our larger properties enjoyed strong weekly rentals through the entire month.

For the industry, bed tax revenue collections were over 7% up for September 2012 over September 2011 and rang in at a total of $999,168.09

A close look at the numbers.
  • September 2012 – $999,168.09 – single point:  $199,833.62 – 7.65% up over previous year
  • September 2011 – $928,161.56 – single point:  $185,632.31 – 16.7% up over previous year
  • September 2010 – $795,301.87 – single point:  $159,060.37 – 0.0% neutral over previous year (oil spill year)
  • September 2009 – $795,698.44 – single point:  $159,139.69 – 2.1% up over previous year
  • September 2008 – $467,386.73 – single point:  $155,795.58 – 17.7% up over previous year
  • September 2007 – $397,000.56 – single point:  $132,333.52
When considering gains, it’s always fun to look at where we are in comparison to where we were a few years ago.  For example, before the oil spill, many considered the 2008 summer tourism season a good baseline for strong tourism.  When compared to that year, 2012 is  25.6% up.

Industry wide in Bay County for September 2012, $19,983,361.80 was generated in reported room-night revenue.

The numbers from the previous months this year
  • August 2012 – $3,007,148.42 – up 1.52% over previous year
  • July 2012 – $3,007,148.42 – up 1.52% over previous year
  • June 2012 – $2,737,780.66 – up 19.88% over previous year
  • May 2012 – $1,408,512 – up 24.95% over previous year
  • April 2012 – $1,270,835.84 – up 4.45% over previous year
  • March 2012 – $1,769,821.69 – up 19.38% over previous year

August Bed Tax Numbers up 15% Year Over Year

Having just realized that I never did a bed tax revenue report for August, I wanted to get this out real quick.  August this year seemed strong in our own vacation rental business and that seems to be confirmed with the huge increase in total revenue year over year for the month, in Panama City Beach.

Just a look at perspective, for 2011 we averaged $1524 of total revenue per property for the month here at Panama City Beach Luxury Properties and for 2012 we averaged $3614 of total revenue per property for the month – which as you can see is a 137% increase.  Of course, the fact that we have several more higher income properties this year over last year ways heavily on this.  🙂

For the industry, bed tax revenue collections were over 15% up for August 2012 over August 2011 and rang in at a total of $1,253,350.77

A close look at the numbers.
  • August 2012 – $1,253,350.77 – single point:  $250,670.15 – 15.35% up over previous year
  • August 2011 – $1,086,541.59 – single point:  $217,308.32 – 34.5% up over previous year
  • August 2010 – $807,936.59 – single point:  $161,587.32 – 14.7% DOWN over previous year
  • August 2009 – $807,936.59 – single point:  $189,519.23 – 2.5% up over previous year
  • August 2008 – $554,578.90 – single point:  $184,859.63 – 4.2% up over previous year
  • August 2007 – $532,047.94 – single point:  $177,349.31
When considering gains, it’s always fun to look at where we are in comparison to where we were a few years ago.  For example, before the oil spill, many considered the 2008 summer tourism season a good baseline for strong tourism.  When compared to that year, 2012 is  32.3% up.

Industry wide in Bay County for August 2012, $25,067,015.40 was generated in reported room-night revenue.

The numbers from the previous months this year
  • July 2012 – $3,007,148.42 – up 1.52% over previous year
  • June 2012 – $2,737,780.66 – up 19.88% over previous year
  • May 2012 – $1,408,512 – up 24.95% over previous year
  • April 2012 – $1,270,835.84 – up 4.45% over previous year
  • March 2012 – $1,769,821.69 – up 19.38% over previous year