Economic Dashboard
Biweekly Insights: November 6, 2023 Executive Summary
LAGUNA BEACH HOTELS
ORANGE COUNTY UNEMPLOYMENT
WEEKLY OCCUPANCY RATE
ORANGE COUNTY
(OCTOBER 15-28, 2023)
66.8%
(JULY 2023)
UNEMPLOYMENT RATE (MONTHLY)
3.6%
WEEKLY OCCUPANCY RATE % CHANGE (OPEN HOTELS)
-11%
ORANGE COUNTY# OF HOSPITAL ITY & TOURISM EMPL OYEES
(VS. OCTOBER 15-28, 2022)
(% CHANGE MONTHLY)
AVERAGE DAILY RATE
+S.9% (vs. JULY 2022)
$399.23 (VS. October 15-28, 2022)
$408.49
JOHN WAYNE AIRPORT (SNA) (2022 vs. 2023)
ORANGE COUNTY/JOHN WAYNE AIRPORT CLOSED HOTELS: COAST INN
HOTEL LAGUNA
LAGUNA BEACH INN ROOMS UNDER PARTIAL RENOVATION: SURF & SAND RESORT
TOTAL OPERATING HOTEL ROOMS:
1,212 Visit Laguna Beach
MONTHLY# OF PASSENGERS AUGUST 2023
1,038,889 (y/y +0.8%)
AUGUST 2022
1,030,933 (y/y +3.5%)
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Economic Dashboard
Biweekly Insights: November 6, 2023 Tourism Marketing District (TMD) Vs. Transient Occupancy Tax (TOT /Bed Tax) Empowering Laguna Beach: Transforming Tourism and the Arts The Laguna Beach Tourism Marketing D istrict (LBTMD), formerly the Business Improvement District (BID)*, was developed to fund activities that promote tourism and related tourist events. The LBTMD is a 2% self-assessed fee paid by visitors staying at Laguna Beach lodging establishments. Of the 2% collected, half goes to the arts of Laguna Beach (Laguna Art Museum, Laguna College of Art+ Design, Laguna Playhouse, Arts Commission Special Projects, and Cultural Arts Funding) and the other half goes to Visit Laguna Beach to develop and market Laguna Beach as a leading travel destination to potential overnight visitors.
Fu eling Lagu na's Future: How TOT Powers Progress
50%
Visit Laguna Beach
The Transient Occupancy Tax (TOT), also referred to as the bed tax, is also paid by overnight visitors and totals 12%, which is collected in its entirety by the City of Laguna Beach and is placed in their general fund. Overnight visitors to Laguna Beach lodging properties generated over $15.4 million in TOT revenues for the City of Laguna Beach. The General Fund pays for vital City services such as police, fire, and marine safety services; clean beaches; street, park, and building maintenance; recreation services; and other general municipal services to the public.
Laguna Beach's Thriving Economy: Attracting Millions and Boosting Revenue Attracting visitors to the community is economic development, and, over six million annual visitors chose Laguna Beach to spend their time and money. Total direct visitor spending totaled $556.6 million, and equally important, was the $17.8 million visitor-generated local taxes for the local government. *The Business Improvement District (BID) was established in 2001 under the "Parking and Business Improvement Area Law of 1989." In 2020, this assessment was updated and converted to the "Property and Business Improvement District Law of 1994."
Visit Laguna Beach
BID Allocations
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10%
Laguna Art Museum
10%
Laguna College of Art+ Design
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OL
Laguna Playhouse
10%
Arts Commission Special Projects
10%
Cultural Arts Funding