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Palm Beach Hotel Industry Bounces Back

MIAMI-Record revenues in bed taxes are set at $957,355 for June, up 1% from last year as gross taxable lodging revenues also rise 1% to $23.9 million. Hotel rates are up for first time since Sept. 11 but occupancy remains down at 61.1% for June, the latest audited month.

By Aurin Squire | Updated on August 13, 2002

MIAMI-The Palm Beach Tourist Development Council reports the recent recession that hit the South Florida industry since Sept. 11 may be over for at least some of the region.

.For the first time, hotel lodging revenue is up 1% to $23.9 million. The council’s report for June shows the bed tax also rose 1% for a record $957,355 in one month. Palm Beach County charges a 4% tax on every room sold.

Increasing revenue goes against some of the other statistics in the report. Rooms sold declined 14.7% to 248,426 and repeat visitors are down 13.4% from 82.5% in June 2001 to 69.1% for this June. Even the occupancy rate is down 2.1% to 61.1%. Despite this. daily rates have hedged up .9% to an average of $91.19.

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