DENVER, Colorado—A brand new financial affect report performed by Oxford Economics particulars the financial affect of Denver’s lodge trade; the report discovered that motels generate practically $7 billion in financial exercise, help 34,000 jobs, and contribute $1.1 billion in federal, state, and native tax income.
The brand new financial affect information additionally supplied perception into how Denver motels contribute to communities, highlighting the lodge sector’s integral position in fueling small companies and native employment. Yearly, lodge visitors spend greater than $4 billion in Denver. Along with jobs created inside motels, customer spending in Denver helps a variety of industries, together with eating places, retail, arts, and leisure.
“Accommodations are the material of each group,” stated Rosanna Maietta, president and chief govt officer of the American Resort & Lodging Affiliation. “This new information confirms what hoteliers expertise on daily basis: when motels thrive, communities thrive. Each visitor keep helps small companies—from eating places and low outlets to transportation suppliers and retailers. That shared success story defines our trade, and it’s crucial that native and state governments proceed to advertise insurance policies that preserve our trade wholesome.”
“Denver’s lodge trade demonstrates the deep connection between small companies and the energy of native economies,” stated Amie Mayhew, president and chief govt officer of the Colorado Resort and Lodging Affiliation. “Accommodations generate practically $1 billion in tax income, fueling the general public providers our metropolis and state depend on. Past the tax income, the lodge trade creates hundreds of significant careers for Colorado residents.”
Key Findings
- Accommodations generate practically $7 billion in financial exercise.
- Help 33,809 jobs throughout Denver.
- Contribute $1.1 billion in annual tax income.
“Because the hospitality trade continues to evolve, The Hospitality Present stays a catalyst for innovation, management, and shared success—each for motels and the communities they serve. I’m excited for Denver to see how motels are fueling communities throughout the nation,” Maietta added.
