4. CONSENT ITEMS

TO: Tourist Development Council

FROM: Jorge Pesquera, President/CEO

DATE: July 31, 2023

RE: Discover The Palm Beaches Monthly Activity Report July 2023

The following is a summary of DTPB activities in support of TDC Performance measures for the month of July 2023. This report demonstrates positive trends relative to owned visitor digital footprint, advertising impressions, social media engagement, and booked room nights for the Month of June

June 2023 Performance

Occupancy and Demand

 Hotel Occupancy for June increased by 2.2% to 63.4%, selling 4.4% more hotel rooms than last year

 Shared lodging sold 30% more room nights compared to last year, with a 6.6% increase in occupancy

 Total room nights sold from hotels and shared lodging increased 11% to 526,000.

ADR and Revenue

 Hotel rates were down 1.4% to $182.

 Shared lodging rates were up 3.4% to $332, the per room equivalent was up 1% to $141.

 Overall lodging revenue was up 8.6% at $89M

 Bed taxes are expected to be around $4.6M

Key Performance Trends

 Growth in hotel room nights sold ranked 2nd in the State at 4.4% and 1 of 5 Florida market with positive growth

 Downtown West Palm Beach, Upscale and Budget hotels had negative growth while all other segments grew

 Luxury rates were down 10% with a 26% increase in demand

 Downtown Delray Beach sold 10% more room nights but due to new inventory occupancy and rate declined