Virginia Beach Lodging Revenues on a Record Pace for 2012

Monday, August 20, 2012

​After a record-setting year in 2011, the Virginia Beach lodging industry is on pace for even more  revenue in 2012.

Lodging revenues for the first half of 2012 are up 13 percent over last year at the same point -- $118 million this year compared with $104 million last year. This covers all hotels in Virginia Beach, most of which are at the Oceanfront resort area, as well as vacation home rentals at Sandbridge and other areas and campgrounds. Total lodging revenues for Virginia Beach in 2011 were $279 million – a one-year record for the city.

Visitor spending on overnight accommodations is the best indicator of the overall health of the city’s tourism industry.  These lodging figures are derived from the tax collections contained in the Trustee Tax Monthly Total Report prepared by the City Treasurer’s Office.

“Once again, Virginia Beach is performing exceptionally well, despite a sluggish market nationwide,” said James B. Ricketts, director the Virginia Beach Convention and Visitors Bureau. “Tourism remains strong in Virginia Beach and is growing every year.”

Virginia Beach is among the most popular tourism and convention destinations on the East Coast. With more hotels, entertainment and shopping options than ever, it’s the ideal place to visit year-round. The city features 35 miles of beautiful beaches on the Atlantic Ocean and Chesapeake Bay, and a 525,000-square-foot convention center. Since the Convention Center opened in 2005, it has hosted 2,453 events.

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