Reno-Tahoe Hotel Revenues Showing Double-Digit Increases

RSCVA Says Rooms, Rates and Revenues are All Trending Upward.

Reno, Nevada. March 24, 2016. The Reno-Sparks Convention and Visitors Authority (RSCVA) announced today that Taxable Room Revenues for Washoe County hotels are up more than 17 percent, and the Average Daily Rate is on a record-setting pace for the current fiscal year, July 1, 2015 through June 30, 2016.

“Washoe County hotels have realized an increase of taxable room revenues in each of the last 20 months,” said RSCVA Board Chair Bob Lucey, who is the vice chair of the Washoe County Board of Commissioners. “Room rates are on an upward trend and we’re bringing more visitors to the area, so this is a very positive sign for the tourism community, as well as other complementary businesses throughout the region.”

Through February, Fiscal Year 2015-2016 has shown year-over-year increases in the three key indicators monitored by the RSCVA. Cash Occupied Room Nights are up 9.2 percent, more than 165,000 room nights; Taxable Room Revenues are up 17.1 percent, more than $27 million; and the Average Daily Rate is up 7.3 percent, $6.45. The current Average Daily Rate of $94.95 would be the highest on record, if it holds through the remainder of the current fiscal year.

“Current hotel rates still represent a significant value when travelers are comparing Reno Tahoe with other destinations,” said RSCVA Interim Managing Director Jennifer Cunningham. “The snowpack this year has definitely contributed to recent successes, but the region is also experiencing an uptick in positive exposure on a national level, which certainly bodes well for the future.”

Five of the eight months tracked so far in FY 2015-2016 have seen double-digit increases in Taxable Room Revenues for Washoe County hotels, when compare to the previous fiscal year. Taxable Room Revenues in four of those eight months, including February, have spiked 24.5 percent or more.

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