Latest news with #PhilDiamond
Yahoo
9 hours ago
- Business
- Yahoo
Orange County's tourist tax take was good, not great in April
Orange County's tourist tax collections were better in April than a year ago, but not as good as the year before that. The revenue generated by the county's 6% surcharge on overnight hotel stays and other short-term lodging has been a reliable measure of tourist industry health, but Comptroller Phil Diamond, whose office tracks the collections, interpreted the new figures cautiously. 'It's interesting to me that even though we're in the midst of what looks to be a very good year — and we just had a very good month — we didn't beat a number from two years ago when everything was less expensive and hotel rooms cost less,' Diamond said. April 2025 collections were slightly weaker at $33.1 million than those in both April 2023 ($33.6 million) and April 2022 ($34.6 million). Epic Universe: Know before you go Still, revenue from the Tourist Development Tax, or TDT, through the first seven months of fiscal year 2025 has totaled $235.6 million, about $11.3 million ahead of the pace of last fiscal year when TDT raked in a best-ever haul of $359 million. Diamond expressed concern about slowing international travel and global economic uncertainty, but also noted bright spots. 'I really want to see more Epic results,' he said, referring to Universal's heralded new theme park, Epic Universe. 'I will say I'm pleasantly surprised at the visitation level we've had before the new park even opened. That was a surprise to me and probably other people as well.' The immersive park officially opened to big crowds May 22 eager to see attractions built around training dragons, the Wizarding World of Harry Potter, Super Nintendo video games and Dracula, Frankenstein and other celluloid creeps and monsters from the movies. Tourism figures from May will be revealed in early July. 'I'll miss visiting my American friends': Angered by Trump's threats, Canadians rethink Florida travel Visit Orlando also offered a somewhat mixed outlook for summer travel in an emailed response about the latest numbers. Hotel bookings from May through July are currently pacing 1% behind the same time period last year, but the short-term rental market is showing 'robust growth' with bookings 15% ahead of last year, said Casandra Matej, CEO of the region's tourism marketing agency. She said the average daily room rate was $223.44 in April, driven largely by a surge in leisure travel. The rate was $208.50 in April 2024. shudak@
Miami Herald
05-05-2025
- Business
- Miami Herald
Orlando's tourist tax pulled in $40 million in March. Will it continue?
ORLANDO, Fla. - The tax on Orlando area hotel rooms just raked in the second-largest, one-month bonanza ever. But optimism over Orange County's near-record collection of $40.1 million in March, announced this morning, was tempered a bit by Comptroller Phil Diamond, whose office tracks the money generated by the 6% surcharge on hotel room rentals. "On one hand, it's the second-most ever," he said. "On the other, it's a decrease from [March] last year." The year-over-year drop was slight - less than $400,000. The comptroller's tourist-tax report generally lags about a month or so behind collection. The April report is expected in early June. The March largesse overcame some negative factors. Diamond said some travelers may have put off a spring vacation to Central Florida until later in the year so they could visit Universal Orlando's new theme park, Epic Universe, which features five immersive lands including areas based on the Harry Potter film series, "How to Train Your Dragon" and Super Nintendo video games. The park is set to officially open May 22. "I think the opening of Epic Universe is going to be a real shot of adrenaline for the tourism economy," Diamond said. "I think it's going to bring a lot of people that wouldn't have come to Central Florida otherwise." The March figures mark the midway point of the fiscal year which began October 1. Tourist tax collections through the first six months of the current fiscal year total about $202.5 million, about $8 million better than last year's total of $194.2 million through the same period. The pace slowed slightly over last year's second half, but final collections nonetheless pulled in a record of $359.4 million. More than half of the $5.4 billion generated by Tourist Development Tax, or TDT for short, since it was first levied about 45 years ago has been spent to build, expand, maintain and operate the Orange County convention center on I-Drive. TDT money also pays for Visit Orlando to promote tourism; builds and improves Orlando's stadiums, arenas and arts venues; and draws attention to the region's smaller attractions, including its expanding array of culinary jewels. Last month, county commissioners dangled $29 million in TDT cash as "incentive" funds in an effort to lure WrestleMania to Orlando in 2031 and to persuade NFL owners to choose Camping World Stadium to host Jacksonville Jaguars' home games in 2027 while the pro fooball team's stadium undergoes a billion-dollar renovation. -------------- Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
05-05-2025
- Business
- Yahoo
Orlando's tourist tax pulled in $40 million in March. Will it continue?
The tax on Orlando area hotel rooms just raked in the second-largest, one-month bonanza ever. But optimism over Orange County's near-record collection of $40.1 million in March, announced this morning, was tempered a bit by Comptroller Phil Diamond, whose office tracks the money generated by the 6% surcharge on hotel room rentals. 'On one hand, it's the second-most ever,' he said. 'On the other, it's a decrease from [March] last year.' The year-over-year drop was slight — less than $400,000. Orange County tourist-tax collections set new annual record The comptroller's tourist-tax report generally lags about a month or so behind collection. The April report is expected in early June. The March largesse overcame some negative factors. Diamond said some travelers may have put off a spring vacation to Central Florida until later in the year so they could visit Universal Orlando's new theme park, Epic Universe, which features five immersive lands including areas based on the Harry Potter film series, 'How to Train Your Dragon' and Super Nintendo video games. The park is set to officially open May 22. 'I think the opening of Epic Universe is going to be a real shot of adrenaline for the tourism economy,' Diamond said. 'I think it's going to bring a lot of people that wouldn't have come to Central Florida otherwise.' Orange commissioners commit $29M for bids to lure WrestleMania, Jaguars The March figures mark the midway point of the fiscal year which began October 1. Tourist tax collections through the first six months of the current fiscal year total about $202.5 million, about $8 million better than last year's total of $194.2 million through the same period. The pace slowed slightly over last year's second half, but final collections nonetheless pulled in a record of $359.4 million. More than half of the $5.4 billion generated by Tourist Development Tax, or TDT for short, since it was first levied about 45 years ago has been spent to build, expand, maintain and operate the Orange County convention center on I-Drive. TDT money also pays for Visit Orlando to promote tourism; builds and improves Orlando's stadiums, arenas and arts venues; and draws attention to the region's smaller attractions, including its expanding array of culinary jewels. Last month, county commissioners dangled $29 million in TDT cash as 'incentive' funds in an effort to lure WrestleMania to Orlando in 2031 and to persuade NFL owners to choose Camping World Stadium to host Jacksonville Jaguars' home games in 2027 while the pro fooball team's stadium undergoes a billion-dollar renovation. Check back for updates. shudak@
Yahoo
24-04-2025
- Business
- Yahoo
‘Uncharted waters': Florida House, Senate eye sweeping changes to hotel tax
TALLAHASSEE — A significant source of tax revenue for Orlando's tourism industry is in flux as the Florida House eyes using money collected from visitors to give homeowners a property tax break. The House's tax package would transform the tourist development tax, defund the marketing agency Visit Orlando and upend a major means of financing entertainment and sporting venues like the Kia Center, home of the Orlando Magic. The proposal calls for taking money collected from tourists and using it to provide Florida homeowners with a credit on their property tax bill. For tourist-rich Orange County, that change would affect roughly $360 million in annual tax revenue paid by visitors staying in hotels and short-term rentals. 'I'd say it's the most sweeping change in the TDT [tourist development tax] since Orange County first approved it,' Orange County Comptroller Phil Diamond said of the House's proposal. 'I think there are a lot of unknowns, and everything seems to be moving at the speed of sound. We're clearly in uncharted waters right now.' Gov. Ron DeSantis has called for property tax relief, arguing he'd rather tax tourists than homeowners, though he and House and Senate leaders have not agreed on whether or how to do that. DeSantis says 'Tax the tourists. Tax some of the foreigners.' to offset other revenue losses Representatives of the tourism industry argue hotel tax revenue is vital to keep Florida competitive with other destinations and oppose the House plan. The House's proposal is 'not a tax cut but a job killer,' Paul Beirnes, vice president of the the Amelia Island Convention & Visitors Bureau, told lawmakers at a Tuesday legislative hearing. 'Without marketing that we do so well, Florida will lose visitors, Florida will certainly lose jobs, and Florida will lose tax revenue as a result,' he said. Meanwhile, two Orlando Democrats who have pushed for TDT reforms say counties need flexibility in how they use the revenue, whether that be funding mass transit projects or reducing property taxes. House and Senate budget negotiators will hammer out the details in the final days of the legislative session, which is scheduled to end May 2. Under the House's proposal, counties could use hotel tax revenue to continue paying debt for any projects started before July 1, or to fulfill contracts entered into as of Jan. 1, according to the proposal. But beginning with the 2026-27 budget year, the revenue must be used to offset county property taxes, less any outstanding debt payments. That proposal also would dissolve tourist development councils, which are governing bodies responsible for attracting visitors. Generated by a 6% tax on hotel stays and short-term rentals, Orange County's tourist development tax revenue is used for Visit Orlando, the convention center, stadiums, arts venues and museums. Orange County has a host of debt obligations backed by TDT funding that total hundreds of millions of dollars. That money is funding the expansion of the Orange County Convention Center, work to improve FBC Mortgage Stadium on the University of Central Florida 's campus and upgrades to the Kia Center and Camping World Stadium. It has been used to help build the Dr. Phillips Center for the Performing Arts and lure major events like the NFL Pro Bowl to the area. This week, commissioners approved a combined $29 million in incentives to lure the Jacksonville Jaguars to play their 2027 season at Camping World Stadium, and for numerous combat sports events put on by TKO Group holdings — which owns World Wrestling Entertainment and the Ultimate Fighting Championship. Those events include Wrestlemania. When Orange County voters approved imposing it in the late 1970s, one of the conditions was that property tax dollars couldn't be used to maintain the convention center. Without the TDT, Diamond said he isn't sure how the county could pay for upkeep, such as replacing the roof or conditioning units. Such expenses can total tens of millions of dollars in a year. Orange County's lobbyist Mark Jeffries formally opposed the package in the hearing Tuesday but didn't speak. The Senate's tax package would also disrupt the tourist development tax, although to a lesser extent than the House's plan. The Senate's proposal would ease a requirement that at least 40% of revenue be used for tourism advertising. The measure, introduced by state Sen. Carlos Guillermo Smith, sets the mandatory spending requirement for tourism promotion to no more than $50 million, or about half of what is spent currently by Visit Orlando. Smith, an Orlando Democrat, said the House's plan doesn't provide enough flexibility to local government. He wants tourist tax revenue to be shifted away from tourism advertising to expanding SunRail. 'The House proposal is extreme and would weaken our ability to fund tourism-related needs in Central Florida,' he said. 'Counties must have the flexibility to invest more in destination infrastructure, including transportation, workforce housing, and public safety, and less on wasteful corporate tourism ads.' 'A big deal for Central Florida': Hotel tax shakeup gains momentum State Rep. Anna Eskamani, D-Orlando, said her focus will be toward securing reform 'that grants flexibility while maintaining local control.' Orange County Commissioner Kelly Semrad said the Senate proposal would be a boon for the county, freeing up at least some of the lucrative bed tax to be spent on improving transportation to the benefit of both visitors and residents. 'I think that this is a win,' she said. 'Ultimately, these are billion-dollar corporations and this is a public tax and this public tax needs to benefit the public.' Semrad, an associate professor at UCF's Rosen College of Hospitality Management, said she supports legislation that gives counties flexibility to use the tax money on local needs like affordable housing, transit and combatting homelessness. She's skeptical of the House proposal, which instead allows the money to replace a portion of property taxes. 'That doesn't add up to me,' she said. The proposal could change as negotiations unfold, said state Rep. Wyman Duggan, who introduced the bill. The Jacksonville Republican said lawmakers are looking for 'innovative' ways to provide immediate property tax relief. 'The cake is not baked,' he said at Tuesday's hearing. 'There is a long way to go.'
Yahoo
07-04-2025
- Business
- Yahoo
Defying tourism fears, Orange hotel tax collections shatter records
Amid worries about the U.S. economy and international travel, Orange County's tourist-tax collections are roaring, with the first five months of 2024-25 nearly $9 million ahead of the previous year when the surcharge brought in a record $359 million. February's $35.5 million total was the highest ever for the month, said Comptroller Phil Diamond, who tracks collections of the 6% levy added to the cost of a hotel room, a home-sharing rental or other short-term lodging. He said the figures to date were surprising because this year's tourism windfall was expected to come this summer after the opening of Epic Universe, the much-anticipated theme park based on Super Nintendo video games and popular film franchises, including How to Train Your Dragon and The Wizarding World of Harry Potter. Epic Universe, Orlando's first new theme park since 1990, is set to open May 22. But the tourism figures were announced Monday as stocks slumped again in the wake of President Trump's global tariffs, and as worries mount that his combative stance toward traditional U.S. allies may fuel a travel boycott, particularly on the part of Canadian tourists. 'Even with that, Orlando is an attractive place to come visit,' Orlando Mayor Buddy Dyer said at a press gathering in recognition of '407 Day,' the city's area code. 'I know our numbers of Canadians are off a little bit based on some things happening with the administration, but I see strong tourism numbers for us this year and next year.' Advance bookings for hotels are up over last year for April and May, said Casandra Matej, president and CEO of Visit Orlando, the region's tax-funded tourism agency which monitors economic factors, perceptions and trends. Room rates have also surged, with the average daily rate of $225.50 up 3.7% over last year. 'In recent weeks, we have started to see travel demand from Canada soften, which could be a result of a variety of factors, including the strength of the U.S. dollar and a slowing Canadian economy, compounded by recent tariff announcements,' Matej said in an email. But she said there is continued interest from other international markets including Mexico.'As one market slows, others present opportunities and our goal at Visit Orlando is to make sure we maintain the optimal visitor mix driving visitation for the benefit of our community's economic health.' Pictures: A first look at Universal Epic Universe February figures got a bump from events at the Orange County Convention Center, including MegaCon, which brought 180,000 people to its annual pop-culture show, and the AHR Expo, a gathering of heating and air conditioning professionals that reported an attendance of 43,000. Tourist-tax receipts have been used over the years to build and expand the convention center, upgrade Camping World Stadium, build the KIA Center and fund other projects, including museums and other arts venues. Surging revenues could make money available for new entreaties, such as the Jacksonville Jaguars' desire for $10 million to play their 2027 season in Orlando while their home stadium is under renovation. The tax has raised about $162.3 million through the first five months of fiscal year 2024-25, which began Oct. 1. That's about 5.7% or $8.8 million more than through the same period a year ago. Those figures have helped quell some worries. 'There are geo-political issues happening around the world right now with our country in the center of it, and President Trump's going to have to make some decisions,' Orange County Mayor Jerry Demings said. 'We do know in Orange County our economy remains strong.' Demings pointed out the county's tourist tax reserves are 'in a good place' at $427 million. 'We are prepared — if there is a downturn — to continue with (funding) the projects that we have,' the mayor said. 'I just hope the geopolitical issues are short-term in nature.' shudak@
