It was pointed out by researchers on this page last year, though it now seems like an understatement to say, that fall can be a tricky season for lodging businesses along the Grand Strand. During years 2013 and 2014 no named stormed passed near the Carolinas, but during 2015, 2016, 2017 and 2018, the area experienced major disruptions stemming from Hurricanes Joaquin, Matthew, Irma, and Florence respectively. Read more about this latest impact to the Myrtle Beach area.
Prior to Hurricane Florence, 2018 seemed to be turning out to be a normal year for tourism along the Grand Strand. The researchers in the Clay Brittain Jr. Center for Resort Tourism and the Grant Center for Real Estate and Economic Development estimate the year-to-date lodging business performance as of Sept. 8, 2018, along with the most recent five years.
Along the Grand Strand, the peak of the tourist season occurs each year between the last two weeks of July and the first two weeks of August. The Center tracks lodging demand in two different ways. The business performance of the nightly rented hotels, condo-hotels and campsites (HC-HCs) is estimated with the assistance of lodging properties that voluntarily provide their daily performance records to the Center. The business performance of the weekly rented vacation rental properties (VRPs) is estimated by observing the booking status and advertised rental prices on the reservation websites of a scientifically random sample of rental properties. The table below reflects lodging demand during this period across the most recent six years.
In this issue of the Grand Strander, we will look at lodging industry performance results for the Grand Strand during the first half of 2018. Transient lodging occupancy and price for the first 24 weeks of 2018 compared with the equivalent dates of 2014-2018 are recapped.
Did you ever wonder how our tourism tax dollars are spent? The Myrtle Beach area is one of the nation’s busiest tourist destinations with over 18 million visitors coming to the Grand Strand in 2016. Those tourists stay in our hotels and beach houses, eat at our restaurants, shop in our stores, and spend money at golf courses, attractions and more. Every purchase our tourists make are taxed. In fact, in 2016, tourists paid almost $323 million in taxes. Did you ever wonder how those taxes are spent? Watch the video to learn more.