2023-2024 Annual Report

Financial Annual Report

FINANCIALS FY 24 YEAR-END

FY 24 YEAR-END BUDGET

Admin and Operations

15%

CABARRUS CVB ALLOCATIONS

Dollars

Admin and Operations

$968,819

Wage Expenses

28%

Wage Expense

$1,827,224

Sales and Marketing

$3,764,052

TOTAL

$6,560,095

LODGING STATISTICS CABARRUS COUNTY

57%

Sales and Marketing

FISCAL YEAR OCCUPANCY TAX COLLECTIONS

FY 2022

FY 2023

FY 2024

$7 M $6 M $5 M $4 M $3 M $2 M $1 M

ROOM OCCUPANCY

72.7%

69.2% 71.7%

$7,129,626 M

$6,969,261 M

$6,138,716 M

$5,711,873 M

$5,681,811 M

715,141

650,384

710,491

ROOM DEMAND

$5,517,951 M

$4,133,247 M

$113.18

$101.08

$111.33

AVERAGE DAILY RATE

$3,378,425 M

REVENUE PER AVAILABLE ROOM

$82.51

$70.35

$80.04

SOURCE: STR, INC. Republication or other re-use of this data without the express written permission of STR is strictly prohibited. Data does not include Great Wolf Lodge or short-term rental.

2017

2019

2021

2018

2022

2020

2024

2023

6

7

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