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Visit McKinney finance update: January HOT up 18% and short‑term rental registration adopted
Summary
Alicia Holmberg reported January hotel occupancy tax revenue was up 18% year‑over‑year and overall collections were slightly ahead year‑to‑date; she also noted a new City ordinance requires short‑term rentals to register with the city but carries no fee at present.
Alicia Holmberg told the board Visit McKinney is roughly one‑third of the way through its fiscal year and on track for its budget. “For the month of January, we were up, 18% over last year,” Holmberg said, noting January is typically a slow month but that collections were stronger than expected and Airbnb remains the largest single collection line item.
Holmberg also reported the City Council approved an ordinance requiring short‑term rentals to register with the city; she said the registration currently carries no fee and is intended to ensure the city has contact information for owners who rent via platforms such as Airbnb and VRBO. Holmberg and board members discussed occupancy trends for specific properties and noted outreach to hoteliers, including a hotelier meeting scheduled later the same day.
