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Hotel Tax Revenue Increases in Newport Beach

Newport Beach saw hotel revenues increased by more than $1.6 million compared to the same quarter in 2010 – read on to find out which resort significantly contributed to this increase.

Newport Beach and Costa Mesa saw hotel tax revenues increased by double-digit percentages in the first quarter of the fiscal year. These increases are a strong indication of a successful summer that city officials hope will continue through the upcoming winter months.

Revenue from Newport Beach’s transient occupancy tax (TOT), which is a tax added to hotel/motel stay bills, increased 14.75%, or more than $1.6 million, in July, August and September compared with the same quarter in 2010. Newport Beach officials are crediting the Pelican Hill Resort, which opened in 2008, with significantly contributing to the city’s gains.

Newport Beach Finance Director, Tracy McCraner, said of the resort, “They had a very good year. They’re just finishing up their third year, so they seem like they’re in full swing.”

Source: Daily Pilot

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New York February / March 2014
New York February / March 2014