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 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 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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