Taxable room revenues up in December
Taxable room revenues in Reno-Sparks were up from the previous year in 2016.
Revenues for December of $25,930,941 are above prior year by $1,766,230 (7.3 a ). Cash occupied room nights of 274,047 are below prior year by 4,737 (a decrease of 1.7 percent). Comp occupied room nights of 73,380 are above prior year by 6,393 (9.5 percent), and 28-day occupied room nights of 128,361 are above prior year by 12,253 (10.6 percent). Total occupied rooms for the month (Cash,Comp, 28-day) of 475,788 are 13,909 (3 percent) above the prior year.
In Washoe County, occupancy percentages of 63 for the month are 4 percent above the 60.6 percent level in 2016. There were 7,720 less available rooms for the month compared to the prior year.
Overall cash average rates for the month of $94.62 increased $7.94, compared to $86.68 for the prior year.
Year-to-date cash occupied room nights of 1,851,865 is .5 percent above prior year and cash average rates year-to-date of $98.37 are $7.83 above the prior year. Year-to-date, total taxable room revenues of $182,162,414 were above $15,408,706 above prior year.
According to the Site Selectors Guild, the pandemic is shifting corporations’ radar away from big cities like New York City, Los Angeles and Chicago and toward mid-size cities like Reno.