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Experience Fayetteville reports April finances: HMR collections slightly below seasonal target, cash about $4.8 million
Summary
Interim CEO Jennifer Walker told the Advertising & Promotion Commission on May 19 that year‑to‑date hotel/motel (HMR) tax collections totaled $1.6 million and were 0.8% below seasonal target; revenues are at 31% and expenditures 34% of budget year‑to‑date, and cash and investments are approximately $4.8 million.
Interim CEO Jennifer Walker presented the April financial report at the May 19 Advertising & Promotion Commission meeting, saying the organization remained broadly within budget expectations for the fiscal year.
Walker reported that as of April 30 the budgetary target percentage for the fiscal year is 33 percent. “On the revenue side, we're at 31%. On the expenditure side, we are at 34%,” Walker said.
The hotel/motel (HMR) tax collections were $1,600,000 year‑to‑date; Walker said that figure is roughly 0.8 percent below the seasonally adjusted year‑to‑date target but described the shortfall as not materially concerning. She added that April occupancy numbers were somewhat lower than the prior year and that staff expect one more month of modest HMR weakness before seasonal increases.
On the balance sheet, Walker said cash and investments totaled approximately $4,800,000 and that the balance reflects bookings for events scheduled later in the year. Commissioners had no questions beyond the materials emailed with the packet.
Why it matters
HMR tax receipts are the primary metric by which the commission and staff monitor lodging and tourism performance; the small variance below the seasonal target will guide near‑term budget monitoring but did not prompt immediate operational changes during the meeting.
What’s next
Walker and staff will continue to report monthly financial results; no additional action was taken at the meeting.
