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By the North Carolina Restaurant and Lodging Association

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Economic Impact on NC Restaurants & Hotels

The NC hospitality industry has been uniquely devastated during the pandemic. This section includes data and information relative to the impact of the pandemic on taxable sales, hotel occupancy, and monthly employment data.

Based on Current Employment Statistics (CES) from NC Department of Commerce, here are the latest comparisons based on Food Services & Drinking Places and Accommodations sector data.

IndustryJanuary 2023
Food Services & Drinking Places394,400
Accommodations43,300
 
Industry Subtotal437,700
All Industries4,964,633
All Other Industries4,526,933

Based on NC Department of Revenue Monthly Sales and Use Tax Statistics, here are the latest comparisons based on data for Restaurants, Taverns, and Hotels.

IndustryDecember 2022 ($)
Restaurants1,918,690,512
Taverns101,889,153
Hotels504,634,922
 
Industry Subtotal2,525,214,587
All Industries18,813,913,933
All Other Industries16,288,699,346

Based on Smith Travel Research data, here are the latest comparisons:

Data TypeJanuary 2023
Occupancy Rate (%)51.5%
ADR ($)$107.85
RevPAR ($)$55.52

VisitNC Economic Impact Studies
6/10/22 · Source: VisitNC
6/10/22
NC Hospitality Businesses That Received PPP Loans
10/08/21 · Source: FedPay & NCRLA
10/08/21
NC Restaurant Revitalization Fund Recipients List
10/07/21 · Source: Small Business Administration
10/07/21
NC STR Report – December 2022
10/19/22 · Source: Smith Travel Research
10/19/22
NC Cumulative STR Data – December 2022
8/22/22 · Source: NCRLA
8/22/22
NC Employment Statistics – January 2023 (Food Services & Accommodations)
9/16/22 · Source: NC Department of Commerce
9/16/22
NC Monthly Taxable Sales – December 2022
8/22/22 · Source: NC Department of Revenue
8/22/22
Questions or concerns? Contact us at nroberts@ncrla.org.

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