From Friday’s Charlotte Business Journal, a story “Hotels Buy into Rebound” Mohammad Jenetain, president of the Greater Charlotte Hospitality & Tourism Alliance, put down a marker:
Jenetain says it is reasonable for Charlotte hotels to exceed 70% occupancy and carry average room rates of $95 per night within five years.
Right now the occupancy rate is 57% and the average room rate is $71, both of which lag national averages. Yet Jenetain, Tim Newman, and the whole destination-location bunch think the NASCAR Hall, the whitewater park, and, who knows, maybe fairy dust will kick start Charlotte’s tourism boom.
This boom is supposed to ride right over the hike in the hotel-motel tax to 15.5 percent and the planned hike in the rental car tax in order to fund the $150 million Wacovia arts complex.
Counter-prediction: By 2011 Charlotte’s relentless tourism boosters will be back asking for even more public subsidies needed to meet newer, even bolder predictions for 2016.
