BY CONNOR PITTMAN
Breaking it down
Looking ahead
Thompson said. “Hotel occupancy tax helps those entities become more visible and more viable for attract- ing people to the destination,” Thompson said. “They’re spending money [at] the restaurants and gas stations and so forth, and driving sales tax.”
Visit Plano Executive Director Mark Thompson said the hotel market remains strong in the city, with more hotels expected in east Plano, near the event center, and in western portions of the city. Hotel occupancy tax is 13%, with the city taking 7% and the state 6%. Hotel occupancy tax funds help pay for local grant programs and events,
Parks and Recreation Director Ron Smith said the event center improvements lay the foundation for further development. “Once we have a hotel adjacent to that event center, those events that would prefer to be in Plano that need on-site, overnight accommodation will have a really great place,” Smith said.
Plano hotel average nightly rate
Plano HOT tax revenue Fiscal year
Late 2024: Anticipated opening of new event center courtyard
Calendar year
+94.7% increase
$120
$15M
$113.03
Early 2025: Completion of street grid in front of the event center
$105.46
Pre-pandemic rate
$10M
$100
Late 2027: Earliest potential opening of a hotel near the event center
$5M
$80
Late 2029: Potential expansion of the event center, based on need
$76.55
$0
$0
SOURCE: CITY OF PLANO/COMMUNITY IMPACT
SOURCE: CITY OF PLANO/COMMUNITY IMPACT
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