Nashville Tourism Ends Record-Setting Streak
Photo provided by Nashville Convention and Visitors Corp
Nashville experienced 70 straight months of tourism growth (based on room night bookings), the longest in U.S. history, reports The Tennessean. According to data the Nashville Convention and Visitors Corp. shared with the newspaper, the streak ended in October. There were 7.2 million room nights sold in fiscal year 2015-16, and $147.5 million in hotel tax collections in 2015.
Despite the leveling off, the CVC says the city remains one of the nation’s Top 10 most desirable destinations for business, convention and leisure tourists.
About 12,000 new hotel rooms will open in Nashville in the coming years, adding to the 27,000 already here. With the increased competition, room rates are expected to fall. In the article, CVC President and CEO Butch Spyridon cautioned that the city should not over-build, noting that Nashville doesn’t have a theme park, gaming option, or as many business travelers as bigger cities.
In news from the Nashville Business Journal, Bridgestone Arena reports total revenue of $12.6 million and total operating expenses of $18.2 million for 2016. The operating loss is subsidized by Metro government. And Nashville is in the running for a Major League Soccer franchise. Nine cities are competing for four franchises.
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