April TOT (transit occupancy tax or bed tax) numbers are in, and occupancy is finally catching up to previous years. For all hotel rooms, the Town saw a percentage of 63, and in 2019, we were at 67%. I would say that we saw more groups and gaggles of large gatherings as group business returned to the Town in small numbers. Again small hotels (under 50 rooms/total of 62) led the march at 82%, and large hotels (total of 393) were at 60%.
You already know that ADR (average daily rate) is through the roof… still. Townwide ADR was $846, blowing away previous years by over 45%. The large hotels saw the most significant increase of nearly 90% (over year 2019) to $916.
The biggest takeaway from this report is the realization that the Town will actually have closer to $4.5M in the unassigned fund balance come to the end of this fiscal year 2021/2022. What oh what to do with all that money?
What should the Town do with all this extra money?
Here is a list of Yountville’s hospitality rooms and the previous month’s TOT reports.
Read the Napa Valley TOT report. It is for March 2022, giving you a good indication of what is happening beyond our little bubble of Yountville.