2. REGIONAL BUSINESS ENVIRONMENT AND ECONOMIC DRIVERS
// HOTEL OCCUPANCY
// VISITOR TREND
• Visitation to Tampa Bay has increased 17.0 percent since 2009, or an average
annual increase of 4.1 percent. Although international visitation to Tampa is minimal
(comprising only 2.0 percent of total visitors), has increased 47.5 percent. As
Tampa International Airport increases its international flight capacity and offerings,
we expect this trend to continue.
• Visitors are also spending more in Tampa Bay than in previous years. In 2014,
visitor spending reached a record $3.5 billion, up 31.0 percent compared with 2009
– a more than 6.0 percent annual increase in that time.
• Although official figures have yet to be released, 2015 likely saw an increase in
visitation to Tampa Bay, as hotel occupancy increased 120 basis points to 65.6
percent, a new record high. This helped push hotel pricing to $120 per night, a 4.0
percent increase year over year.
• Given Tampa Bay’s attractive beaches and overall offerings to visitors, together
with an improved economy and increased consumer confidence, we expect the
increased visitation trend to continue. This is especially true for daily visitors, who
comprise nearly a quarter of all visitors to the area.
2016 TAMPA PULSE // 17