Sentinel-Echo.com

Local News

December 3, 2013

$14.1M in hotel sales last year

Tourism events boost local economy by $1.45M in additional spending

(Continued)

LAUREL COUNTY, Ky. —

Hendrickson also noted in June, the London-Laurel County Tourism Commission hosted the Kentucky State H.O.G. (Harley Davidson Owner’s Group) rally for the first time.

The Rally attracted about 1,000 participants, and resulted in a 15-percent increase in hotel room in June from about $1.3 million last year to $1.5 million.

A recent study conducted by VISA Credit Card Company revealed visitors spend about 9 percent of their traveling funds on hotels; the remaining 91 percent is spent on dining, retail purchases, transportation and other activities in the area.

“About 30 percent of that money is spent on retail sales,” Hendrickson said.  “That money is divided among chain stores and locally-owned businesses.  Another 24 percent is spent on dining; 21 percent is spent on other activities, including event registration, and 16 percent is spent on transportation.”

Although these percentages are based on national averages and not specific to London or Kentucky, it still means a boost for the local economy.

“For every dollar that is spent on hotel sales for families attending our events, $11.11 is spent on other things such as dining and retail sales,” Hendrickson said.  “In other words, for the $1.45 million increase in room sales that London and Laurel County hotels enjoyed due to new or expanded tourism events, about $16 million was infused into other parts of our local London-Laurel County economy.”

 

rmcdaniel@sentinel-echo.com

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