(The Center Square) — South Carolina’s hotels and vacation rentals experienced record revenues for fiscal 2023, state officials said, and it’s helping bring in more money for the state.
According to the South Carolina Department of Parks, Recreation & Tourism, revenue per available hotel room increased by 12% compared to pre-pandemic levels, while vacation rentals experienced a 35% increase. Regarding rental nights sold, hotels had a 4% growth compared to fiscal 2019, while vacation rentals had a 68% growth.
According to the South Carolina Board of Economic Advisors Monthly Revenue Monitor, the state’s accommodations tax collections for fiscal 2022-23 were $113.8 million as of a July 12 report. That’s up from $111.2 million last year and $75.7 million in fiscal 2020-21.
“These numbers reflect just how busy our hotels and vacation homes have been, and highlight two other important factors positively impacting our tourism industry,” South Carolina Department of Parks, Recreation & Tourism Director Duane Parrish said in an announcement.
“These numbers show how popular South Carolina is as a destination, and they show how much importance travelers are putting on vacations. Nationwide, business travel and international travel are still not where we were before the pandemic,” Parrish added. “To reach these records today highlights that people are choosing to spend their hard-earned dollars on travel – and that’s great news for our estimated $29 billion tourism industry.”
