Economics

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Tourism is a $1M a Day Business in Montgomery, Alabama

6 Oct, 2014


The Montgomery Area Chamber of Commerce Convention & Visitor Bureau (MCVB) released new numbers reflecting the significant economic impact of tourism on Montgomery’s economy. Based on data research, the total dollars generated in visitor spending on a typical day in Montgomery equals $1,305,525.00.

The MCVB used data research from Young Strategies, Inc. and a monthly lodging report created by Smith Travel Research, Inc. This is how the numbers break down:

  • 80 total hotels = 6,815 total rooms within Montgomery County*
  • The city is currently running a 62% occupancy rate = 4,225 rooms sold each night*
  • Those 4,225 rooms are sold at an average daily rate of $75 = $316,875.00 daily hotel revenue*
  • Each travel party equals 2 people,  4,225 X 2 = 8,450 travelers each night**
  • The daily estimated dining expense is $67 X 8,450 = $566,150.00**
  • The daily estimated shopping, auto fuel and activities expense per travel party is $100 X 4,225 = $422,500
  • The total daily visitor spending = $1,305,525.00

Source:

*Smith Travel Research, Inc.

**Young Strategies, Inc.

“Tourism IS economic development and produces a significantly high rate of return for this community,” says Dawn Hathcock, vice president of the MCVB. “Over the last few years, the Chamber’s Convention & Visitor Bureau has maximized its resources and created a strategic marketing and sales plan to recruit visitors to the capital city and our latest lodging numbers are evidence that this plan is paying off.”

Montgomery, “A Cool Capital City on the Move:” Centrally located along the Alabama River in the heart of the Southeast, Montgomery is steeped in the history of world-changing events and is in the midst of another change – a complete reemergence. From a revitalized downtown to an array of new museums, restaurants, attractions and accommodations, the riverfront capital city is quickly becoming one of the newest must-see travel destinations in the South. Learn more about all that Montgomery has to offer at www.visitingmontgomery.com

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