August Bed Tax Numbers up 15% Year Over Year

by November 29, 2012 • 0 comments
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
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