HomeMy WebLinkAboutPO 7302 Port_Arthur_STR_Presentation_Deck_Nov_2024 - Read-Only 1-14-2025
SHORT-TERM
RENTALS
SHORT-TERM RENTAL ORDINANCE IMPACT ON HOTEL OCCUPANCY TAX IN PORT ARTHUR
1
FISCAL YEAR 2022/2023:
54 REGISTERED STR’S WITH THE STATE
TEXAS HOTEL & LODGING ASSOCIATION REPORTED REVENUE FROM THESE STR’S WAS APPROXIMATELY $900,000
AT A 7% LOCAL HOTEL OCCUPANCY TAX, UP TO A MAXIMUM $63,000 COULD HAVE BEEN GENERATED FOR 2022/2023
OVER 30-DAY STAY IS EXEMPT & IS PREVALENT SO LIKELY LESS THAN $63,000 WOULD HAVE BEEN COLLECTED
DATA GATHERED NOVEMBER 2024:
95 STR’s FOUND IN CITY LIMITS ON AIRBNB & VRBO
PER NIGHT PRICES RANGE FROM $38 TO $700 + PER NIGHT
IF ALL POSSIBLE REVENUE PER NIGHT IS TOTALLED AND 7% LOCAL HOT CALCULATED, IT WOULD BE A MAXIMUM OF $787.36 PER NIGHT IN TAX
AT A 70% OCCUPANCY RATE (AVG FPR HOTELS) IN PORT ARTHUR, THIS WOULD BE A MAXIMUM OF $200,776 COLLECTED
IF 50% OF THESE STAYS HAVE A 30 DAY EXEMPTION, THE COLLECTION WOULD BE CLOSER TO $100,000
Facts Gathered From
2
5 types of STRs
in Port Arthur
3
01.
SINGLE ROOM
Current Count:
14
$38-$95 per night
4
02.
CONDOS
5
03.
APARTMENT, STUDIO & TOWNHOME
6
04.
RENTAL UNITS
7
05.
HOMES
8