Richmond Region Becomes First Community in Virginia to Approve Tourism Improvement District
Exciting news: The Richmond Region represents the first group of jurisdictions in Virginia to enable a Tourism Improvement District (TID).
As of July 1, hotels with 41 rooms or more within the TID will charge a 2% fee on nightly rates which is expected to generate as much as $8.2 million annually to support the promotion of the region as a leisure, conference and sports tourism destination.
“The passage of the TID represents a great leap forward for the Richmond Region, giving us the resources to compete aggressively with other comparable markets around the country,” said Katherine O’Donnell, executive vice president at Richmond Region Tourism. “While the region has already surpassed pre-COVID rates for hotel occupancy and sports tourism activities, the resources from the TID will enable us to turn the volume up on our promotional efforts and accelerate our momentum in positioning the Richmond Region as one of the country’s premier tourism destinations. Our thanks go to the tremendous support that the TID initiative has received from local hoteliers and public officials.”
The additional funding gives the region more opportunities to partner with meeting planners for future sports tournaments and meetings and conventions.
The city of Richmond and the counties of Chesterfield, Hanover and Henrico, and the town of Ashland are a part of the TID.
“This is an exciting day for the Richmond Region,” said Mayush Mehta, vice chair of the TID Governance Committee and regional vice president of JP Hospitality. “The approved TID is an investment in our entire community. These dedicated funds will help us invite and welcome new overnight visitors to our region who will support our small businesses, restaurants and cultural attractions. A tremendous amount of collaboration and hard work went into establishing the TID and we should all be proud.”
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Richmond Region Celebrates Passage of Tourism Improvement District Formations!
Congratulations to Richmond Region Tourism and its leadership Katherine O’Donnell, Executive Vice President, and Jack Berry, President, and CEO, for securing a major funding win for Virginia! After almost 12 months of hard work, determination and strategic planning, Richmond Region Tourism, in partnership with hotels within the region, has secured a path to sustainable funding for their region.
As of Monday, June 12, the city of Richmond, Chesterfield, Hanover and Henrico counties, and the town of Ashland have all approved the formation of a Tourism Improvement District (TID), the first in Virginia. Hotels within the districts will charge a 2% assessment that will raise an additional $8.2 million per year for the region, doubling its current budget. Collection will begin on July 1, 2023.
“The passage of the TID represents a great leap forward for the Richmond Region, giving us the resources to compete aggressively with other comparable markets around the country,” said Katherine O’Donnell, executive vice president at Richmond Region Tourism. “While the region has already surpassed pre-COVID rates for hotel occupancy and sports tourism activities, the resources from the TID will enable us to turn the volume up on our promotional efforts and accelerate our momentum in positioning the Richmond Region as one of the country’s premier tourism destinations. Our thanks go to the tremendous support that the TID initiative has received from local hoteliers and public officials.”
These funds will allow this region to attract more large-scale sports tournaments and conventions and will infuse the destination with sustainable funding for boosting leisure marketing strategies.
“The TID received widespread support in our community over the last year,” said Dan Schmitt, Richmond Region Tourism Board Chair and member of the Henrico County Board of Supervisors. “The approved TID means we can access sustainable and dedicated funding that will help grow tourism’s impact on our economy while creating more jobs and boosting the quality of life of residents. This is a tremendous ‘win’ for the Richmond Region.”
We were honored to support Katherine, Jack, and the Richmond Region Tourism team in this significant win. We know these additional funds will allow these destinations to continue to thrive.
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In 2021, the Code of Virginia was createb by passting Article 3. Tourism Improvement Districts / § 15.2-2413.1. This authorized any locality to: - create a local tourism improvement district plan - contract with a nonprofit entity to administer the activities and improvements. - establish fees charged to businesses
Exciting news: The Richmond Region recently approved a new Tourism Improvement District (TID). The TID is expected to generate as much as $8.2 million annually to support the promotion of the region as a leisure, conference and sports tourism destination. ... VRLTA is the singular voice for the hospitality industries in Virginia and works to ...
B. After establishing a tourism improvement district, a locality shall not decrease the level of publicly funded tourism promotion services in a tourism improvement district existing prior to the creation of such tourism improvement district. 2021, Sp. Sess. I, c. 500. § 15.2-2413.7. Amendment to the tourism improvement district plan. A.
By VisitRichmondVA on Jul. 24, 2023. Exciting news: The Richmond Region represents the first group of jurisdictions in Virginia to enable a Tourism Improvement District (TID). As of July 1, hotels with 41 rooms or more within the TID will charge a 2% fee on nightly rates which is expected to generate as much as $8.2 million annually to support ...
Virginia's first tourism improvement district received approval this week and can begin collecting funds from Richmond-region travelers to fund tourism marketing efforts beginning July 1. Following Richmond City Council's approval vote this week, the new tourism improvement district, or TID, received the necessary support to move forward. ...
The Greater Richmond region is the first in Virginia to establish a Tourism Improvement District. On Tuesday, Richmond City Council passed an ordinance joining the TID, which will allow regional tourism organizations to collect more money.
This includes the TIDs (Tourism Improvement Districts) The newest of Virginia's tourism-related zone opportunities, TIDs authorize any a locality to create a local tourism improvement district plan, consisting of fees charged to visitors and used to fund tourism promotion activities and capital improvements. All TID funded initiatives follow ...
The tourism improvement district plan shall contain the following: 1. A map of the proposed tourism improvement district; 2. A description of the boundaries of the tourism improvement district proposed for establishment or extension in a manner sufficient to identify the businesses included; 3. The activities proposed and the projected cost ...
A. After the filing of the tourism improvement district plan pursuant to § 15.2-2413.2 and the submission of a petition pursuant to § 15.2-2413.3, a locality may adopt a resolution containing: 1. A copy of the tourism improvement district plan; 2. A statement that the tourism improvement district plan is on file in the clerk's office for ...
Region Approves Tourism Improvement District Richmond Region becomes first community in Virginia to establish a TID RICHMOND, Va. (June 13, 2023) - Last night's vote by the Richmond City Council to approve an ordinance allowing for a hotel assessment marks the final step for passage of a new Tourism Improvement District (TID) in the region.
A business district created to generate funds for destination marketing and capital investment. Tourism businesses collect new visitor fees to fund local tourism marketing and development TIDs are a hospitality-specific model of the traditional Business Improvement District (BID). TIDs use special benefit assessments, rather than general taxes ...
Tourism Improvement Districts Were Made for Downtowns! February 20, 2024February 7, 2024 by Department of Housing and Community Development. Originally envisioned to mitigate the harsh impacts COVID-19, the Code of Virginia was amended in June 2021 by adding in Chapter 24 of Title 15.2 (Article 3), consisting of sections numbered 15.2-2413.1 ...
"The tourism improvement district is a way of ensuring ongoing resources to continue to build out and grow the visitation area," Biggar says. In 2019, tourism to Fairfax County generated more than $3 billion in spending, though that dropped to $2.1 billion in 2020 amid the pandemic.
Richmond Region Tourism, along with local hotel operators, is proposing a Tourism Improvement District to grow visitation and hotel occupancy via dedicated funds for marketing and sales activities. ... During the 2021 General Assembly, lawmakers passed Senate Bill 1298 to allow any Virginia locality a pathway to establish a local TID. Since ...
§ 15.2-2413.3.Petition for a proposed tourism improvement district. Upon the submission to the clerk of a locality of a written petition, signed by the business owners in the proposed tourism improvement district who will pay more than 50 percent of the fees proposed to be charged, a locality may initiate proceedings to form a tourism improvement district.
Congratulations to Richmond Region Tourism and its leadership Katherine O'Donnell, Executive Vice President, and Jack Barry, President, and CEO, for securing a major funding win for Virginia! After almost 12 months of hard work, determination and strategic planning, Richmond Region Tourism, in partnership with hotels within the region, has secured a path to sustainable funding […]
June 14, 2023. By. Trevor Dickerson. Last night's vote by the Richmond City Council to approve an ordinance allowing for a hotel assessment marks the final step for passage of a new Tourism Improvement District (TID) in the region. Hotels with 41 rooms or more within the TID will charge a 2% fee on nightly rates, which is expected to generate ...
The Greater Richmond region has become the first in Virginia to establish a Tourism Improvement District (TID) that will allow regional tourism organizations to collect funds via a new tax on hotel stays. This change took effect July 1, 2023, and hotels with greater than 40 rooms added a 2% fee to their nightly rates.
§ 15.2-2413.7.Amendment to the tourism improvement district plan. A. At any time after the establishment or extension of a tourism improvement district pursuant to the provisions of this article, the tourism improvement district plan upon which the establishment or extension was based, may, upon the recommendation of the administering nonprofit, be amended by the locality after compliance ...
Richmond Region Tourism is spearheading the effort that would establish a so-called tourism improvement district (TID), in which hotel visitors would be charged a 2 percent fee on their nightly room rates that would be put toward marketing and sales activities to better promote and attract business to the region. ... both in Virginia and ...
Establishment or extension of the tourism improvement district. § 15.2-2413.5. Establishment or extension of the tourism improvement district. A. Not earlier than 30 days after the conclusion of the last day of the public hearing held pursuant to § 15.2-2413.4, the governing body of the locality that conducted the hearing process shall determine:
There is hereby levied on each retail sale in the Tourism Improvement District a fee of two percent of the room charge. ( Ord. No. 2023-159 , § 1, 6-12-2023)
B. A locality may issue bonds and other obligations subject to the provisions of the Public Finance Act of 1991 (§ 15.2-2600 et seq.) for the purpose of funding the costs of the tourism improvement district plan. Principal and interest payments on such bonds may be paid from the proceeds of any fees imposed under this article.