2023-2024 Annual Report

ANNUAL TOURISM ACTIVITY CABARRUS COUNTY

Visitor Profile

WHERE CABARRUS VISITORS TRAVELED FROM

Tourism in Cabarrus County continues to set new records. After double-digit increases over the past few years, annual lodging revenue growth began to normalize in FY2024. Overall Hotel Occupancy was 72.7% which represented a 1.4% increase over FY2023. The Hotel Average Daily Rate was $113.18 which represented a 1.6% increase over FY2023. Overall visitor origin mix shifted a little more in-state by 9%. Almost two-thirds of visitation is still originating from out of state. The strongest out of state markets include Greenville-Spartanburg, SC; Florence-Myrtle Beach, SC; Columbia, SC; Atlanta, GA; Roanoke-Lynchburg, VA; and Charleston, SC. Visitors have a tremendous impact on Cabarrus County’s economy due to their spending at local lodging, restaurants, and attractions. In FY2024 11.3% of all spending at these locations came from visitors who live more than 50 miles away from Cabarrus County. Visitors from Raleigh continue to represent the largest percentage of visitor spending at 16.8% with an average visitor spend of $165.

VISITOR INSIGHTS FY 2023-24

31%

AVERAGE HOTEL OCCUPANCY 1.4% INCREASE IN HOTEL OCCUPANCY There was a in FY 2024 compared to the previous fiscal year.

27.6%

2.1

63.8%

of visitors have an average household income BETWEEN $41K - $60K

days average LENGTH OF STAY

of visitors are from OUT-OF-STATE MARKETS

2024

2023

78 %

77.3 %

75.7 %

75.4 %

70%

75.3 %

76.2 %

75.2 %

75.1 %

75 %

73.9 %

73.3 %

72.2 %

72.4 %

74.7 %

73 %

71.1 %

71.7 %

72.1 %

70.3 %

70.4 %

48.0% of visitors have CHILDREN in their household

55.0% of visitors are between the AGES OF 25 - 54

64.9 %

64.8 %

62.6 %

61.7 %

Jul

Jan

Jun

Oct

Apr

Feb

Sep

Mar

Dec

Nov

Aug

May

12

13

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