Page 72 - FY 2022-23 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Transient Occupancy Tax - All Sources
(Thousand Dollars)

2018-19 2019-20 2020-21 2021-22 2022-23
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 28,194 14,406 6,744 12,670 17,187 4,517 17,187 22,410
AUGUST 30,292 45,360 7,107 15,030 17,203 2,173 17,203 20,000
SEPTEMBE 28,243 18,414 7,723 15,025 18,099 3,074 18,099 22,970
OCTOBER 25,843 38,280 10,855 12,700 6,755 (5,945) 6,755 20,650
NOVEMBER 28,095 18,185 8,288 14,260 18,367 4,107 18,367 20,720
DECEMBER 20,349 30,914 3,583 13,510 30,767 17,257 30,767 19,420
JANUARY 24,283 8,150 6,358 13,700 17,258 3,558 17,258 21,890
FEBRUARY 22,482 37,602 9,558 13,370 13,909 539 13,909 18,130
MARCH 28,256 19,276 5,041 16,785 19,722 2,937 19,300 23,500
APRIL 28,115 15,493 15,855 16,800 28,424 25,070
MAY 27,738 3,044 11,954 19,030 21,590 24,480
JUNE 26,998 4,414 17,361 20,420 20,840 23,980
TOTAL $ 318,888 $ 253,539 $ 110,427 $ 183,300 $ 229,700 $ 263,220
% Change 6.6% -20.5% -56.4% 66.0% 108.0% 14.6%
2018-19 2019-20 2020-21 2021-22 2022-23
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 28,194 14,406 6,744 12,670 17,187 4,517 17,187 22,410
AUGUST 58,486 59,766 13,851 27,700 34,390 6,690 34,390 42,410
SEPTEMBE 86,729 78,180 21,574 42,725 52,489 9,764 52,489 65,380
OCTOBER 112,572 116,459 32,429 55,425 59,245 3,820 59,245 86,030
NOVEMBER 140,667 134,645 40,716 69,685 77,612 7,927 77,612 106,750
DECEMBER 161,016 165,559 44,299 83,195 108,379 25,184 108,379 126,170
JANUARY 185,299 173,709 50,657 96,895 125,637 28,742 125,637 148,060
FEBRUARY 207,780 211,312 60,216 110,265 139,546 29,281 139,546 166,190
MARCH 236,037 230,588 65,256 127,050 159,268 32,218 158,846 189,690
APRIL 264,152 246,081 81,112 143,850 187,270 214,760
MAY 291,890 249,125 93,066 162,880 208,860 239,240
JUNE 318,888 253,539 110,427 183,300 229,700 263,220

The transient occupancy tax (TOT) is levied on the rate of hotel and motel rooms as well as privately owned
rooms or properties rented for 30 days or less. TOT is paid by the occupant and is collected and remitted to the
City by the host (or agent on their behalf). The tax rate is 14 percent, of which 1 percent is remitted to the Greater
Los Angeles Visitors and Convention Bureau Trust Fund and 13 percent is remitted to the General Fund. From
General Fund revenue 1 percent is appropriated to the Arts and Cultural Facilities and Services Trust Fund. The
table below provides the estimated revenue from hotel and short-term rental activity in the City and the 1 percent
share based on TOT actual and estimated receipts.

2018-19 2019-20 2020-21 2021-22 2021-22 2022-23
Taxable Hotel Sales $2,452,984 $1 ,950,300 $849,400 $1 ,410,000 $1 ,766,900 $2,024,800

Each 1% tax rate 24 530 19 503 8,494 14,100 17 669 20 248
TOT Revenue 318,888 253,539 110,427 183,300 229,700 263,220

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