4. CONSENT ITEMS

TO: Tourist Development Council

FROM: Jorge Pesquera, President/CEO

DATE: April 28, 2023

RE: Discover The Palm Beaches Monthly Activity Report April 2023

The following is a summary of DTPB activities in support of TDC Performance measures for the month of April 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 April.

March 2023 Performance

Occupancy and Demand

 Hotel Occupancy for March increased 0.1% to 82.5%, selling 1.3% more hotel rooms than last year. This is due to the Hampton Inn in Delray opening, adding 1.2% more rooms into the inventory.

 Shared lodging occupancy increased for the first time in 11 months to 76.5% (+0.6%) with a total room demand increase of 22.3%.

 Total room nights sold increased 7.8% to 664,223.

ADR and Revenue

 Hotel rates were up 2.9% to $365.

 Shared lodging rates were up 1.6% to $410, the per room equivalent was flat at $188 and $66 less than a midscale hotel.

 With total rates up 1.8% and selling 7.8% more room nights revenue was up 7% to $210M.

 Bed taxes are expected to be over $12M.

Key Performance Trends

 Occupancy was down 8% in West Palm Beach due to the AKA adding 15% more rooms and selling 5.6% more room nights.

 Occupancy was down 0.4% in Delray Beach absorbing most of the 12% additional room inventory.

 Demand in Palm Beach Gardens was down 1.1% and up 5.7% in Boca Raton

 Luxury hotel rates were down 1.3% to $916.

 Delray Beach market rates were down by 12.9% with the additional of the Hampton Inn to $388

 Midscale and I-95 properties were able to increase rates 5% to $255 and $209.