Aloft Gives a Boost To Rogers Bed Tax
by October 6, 2008 12:00 am 65 views
The anticipation surrounding the debut of the trendy Aloft Hotel in Rogers in June was not unwarranted.
During its first month in operation, the Aloft was the fourth-highest grossing hotel in Rogers, ranking only behind the 400-room Embassy Suites, Hampton Inn and Hyatt Place.
According to city tax records, the Aloft grossed $316,600 in June and $360,200 in July from its 130 rooms. The Hampton Inn has 122 rooms and Hyatt Place 103 rooms.
With the addition of the Aloft and the opening of Embassy Suites’ 152 new rooms in its Spa Tower in May, Rogers’ bed tax revenue has increased 18 percent year-over-year from January to August collections.
The Embassy Suites, between its additional rooms and hosting the P&G Beauty Northwest Arkansas Championship LPGA tour event in May, reported a whopping 36.6 percent revenue increase for the month. Its revenue soared from $19.3 million to $26.5 million.
However, Embassy Suites actually saw a decline in revenue during July, with $18.8 million in 2007 compared to $18.3 million in 2008.
Hampton Inn had near-identical numbers while Hyatt saw around a $60,000 drop, evidence that Aloft may have sliced a bit away from the market pie.
Overall, Rogers’ bed tax revenue was up just 5 percent for July. In July 2007, Rogers’ bed tax revenue increased 28 percent year-over-year.