Q1 convention highlights generate nearly $400,000 in taxes and nearly $5 million in spending in Albany County
Published:
The Albany County Convention & Visitors Bureau (ACCVB) is reporting that three highlighted events have generated $381,923 in local tax dollars for Albany County, and an estimated $4,948,696 in total spending at area hotels, restaurants, and attractions.
First quarterconvention highlights generate nearly $400,000 in taxes and nearly $5 million in spending in Albany County
Hotels Report 7.6% Increase in Occupancy
ALBANY, NY – Albany County played host to nearly 100 conferences, conventions, and special events during the first quarter of 2012. The Albany County Convention & Visitors Bureau (ACCVB) is reporting that three highlighted events have generated $381,923 in local tax dollars for Albany County, and an estimated $4,948,696 in total spending at area hotels, restaurants, and attractions.
These numbers are based on calculations from the Destination Marketing Association International (DMAI) Event Impact Calculator, a tool that measures the economic value of an event and calculates its return to local taxes.
A Night of Hope with Joel and Victoria Osteen was held at the Times Union Center on Friday, March 16. This event was attended by nearly16,000, accounted for 1,500 room nights at area hotels, and generated an estimated $93,431 in local taxes.
The New York State Public High School Athletic Association (NYSPHSAA) held their annual Wrestling Championship at the Times Union Center in February. Over the course of the weekend, this event attracted an estimated attendance of 17,500, accounted for more than 3,000 room nights at area hotels, and generated an estimated $152,473 in local taxes.
The New York State Assembly Puerto Rican Hispanic Task Force also held their annual conference, Somos El Futuro, from March 22 -24 at the Empire State Plaza Convention Center. Overall, the conference was attended by nearly 6,000 people, accounted for nearly 2,100 room nights, and generated an estimated $136,019 in local taxes.
“Large events and conferences continue to attract audiences from throughout the Northeast into Albany County,” states Albany County Executive, Dan McCoy. “This activity boosts spending, supports local businesses, and continues to sustain jobs in our area.”
“These numbers prove that Albany County continues to be an attractive destination for meeting and event planners,” states MicheleVennard, President/CEO of the ACCVB. “This growth is reflective of our ability to attract new business while still retaining past clients.”
Local businesses can also support the economic engine by hosting their meetings and events in Albany County through theACCVB’s Host it Here program, which provides an array of complimentary services to assist meeting planners.
According to hospitality consulting firm STR, area hotels have also reported a 7.6% increase in occupancy since this time last year. The average daily rate increased 4.1%, to $97.82. Revenue per available room (RevPAR) also increased 12%, to $54.08, while total revenue also increased 12% .
Throughout 2012, the Albany area will welcome over 230 meetings and events to area hotels and conference centers. On October 21, 2012, Blessed Kateri Tekakwitha will be canonized a saint, spurring group tour and visitor travel to the National Kateri Tekakwitha Shrine in nearby Fonda, NY. Prior to her canonization, Albany will host the 73rd annual national Tekakwitha Conference from July 18-22.
About the ACCVB:
The Albany County Convention & Visitors Bureau, Inc. was established in 1976 to promote the civic and commercial progress of the community through increased development of conventions and tourism. ACCVB currently represents more than 300 member businesses and assists each year in hundreds of regional meetings. ACCVB also operates the Albany Heritage Area Visitors Center, Henry Hudson Planetarium, and the Albany International Airport Information Center. For more information, call 518-434-1217 or 800-258-3582 or visit www.albany.org.
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