TDA Expresses Optimism for the Upcoming Fall Tourism Season

Overview

In the bustling metropolis of Asheville, the local tourism sector remains hopeful for the forthcoming fall season. Despite a minor downturn in hotel occupancy rates during the first semester of 2024, there is an upward trend in vacation rental occupancy rates, sparking optimism amongst industry players.

During a meeting held at the Explore Asheville boardroom, Vic Isley, President and CEO of Explore Asheville, presented an encouraging outlook of the local tourism industry to members of the Buncombe County Tourism Development Authority (BCTDA). Isley remains optimistic, despite acknowledging a softer national business landscape.

A Detailed Outlook

The first half of 2024 shows average hotel occupancy rates dropping from 65% to 62% compared to the same period in 2023. Yet, contrasting this, vacation rentals saw a slight rise of a percentile, moving up from 49% to 50% occupancy.

Isley explained, “Occupancy is a product of supply and demand. Hotel and vacation rental demand has not kept up with supply”.

Isley also drew a comparison with other renowned tourist hotspots like Charleston, S.C., and Savannah, GA. These regions reported higher average hotel occupancy rates of 72% and 74% respectively during the same period. However, Isley stresses that Asheville outpaces these competitive locations during the second half of the year, which includes July and October, the area’s robust tourism months.

Despite the competitive landscape, Isley maintains an optimistic tone, sharing that the number of Asheville air passengers increased by 11% in the first half of 2024. This is significant because air passengers often stay longer and spend more in the region.

The Impact of Tourism

The impact of tourism on Asheville’s local economy is undeniable. In 2023, direct visitor spending hit $3 billion, showcasing a massive 35-fold increase since the inception of BCTDA in 1983. Tourism contributes about 20% of the gross domestic product in Buncombe County. The income generated supports 29,000 jobs in the area, leading Isley to proudly conclude that tourism-generated income “is one in seven jobs throughout the county”.

Changes in the Board

Two significant changes are due to take place within the board of BCTDA. Board members Kathleen Mosher, who served as chair from 2021-23, and Scott Patel are due to leave. Mosher’s position will be replaced by Tim Rosebrock, Biltmore’s vice president of compliance and legal services, starting from September 1. The board is interviewing Joe Balcken, Randy Claybrook, and Himanshu Karvir as potential successors for Scott Patel’s vacant position.

Final Note

Despite the challenges faced by the industry, the outlook towards the fall season remains positive amongst the tourism sector in Asheville. With the city’s unique charm, coupled with strategic plans laid down by industry experts, the season ahead shows promise for a prosperous peak tourism period.