Amendment to Move to a 70/30 Sharing Agreement for Transient Room Tax Revenues by 2020
Coalville, UT (January 23, 2018) – The Summit County Council is expected to adopt a first amendment to the Agreement on Use of Transient Room Tax (TRT) during tomorrow’s County Council meeting. The amendment implements a new 10-year agreement between Summit County and Park City Chamber of Commerce | Convention and Visitors Bureau (CVB). Under the amended agreement, Summit County will begin to increase its share of TRT revenues each of the next three years, ultimately providing 70% of total TRT revenues to the CVB for the promotion of tourism and retaining 30% for the County through 2028.
“The Summit County Council appreciates the work the Park City Chamber of Commerce | Convention and Visitors Bureau has done to boost tourism in Summit County. The CVB has always been willing to work with the County on various tourism and recreation-related initiatives, as well as help with economic development efforts and perform mutually beneficial studies,” said Kim Carson, Summit County Council Chair.
“We appreciate the inclusive process that the County Council used to work with us on this topic and to be sensitive to the CVB’s needs to have an agreement that encourages our community to continue to grow the tourism industry and grow this revenue source. This amended agreement does just that and continues the relationship between our membership and the County in advancing our economy,” said Bill Malone, Park City Chamber of Commerce, Convention and Visitors Bureau President and CEO.
Summit County imposed the Transient Room Tax (TRT), per state statute, on temporary lodging for stays of less than 30 consecutive days at hotels, motels, inns, trailer courts, campgrounds, tourist homes and similar accommodations. TRT revenues can be used on establishing and promoting recreation, tourism, film production, and conventions. Up to one-third of the total revenues can be reserved for capital projects related to tourism and recreation. In 2012 the TRT revenues collected in Summit County totaled $5.6 million. In 2016 TRT revenues collected in Summit County totaled $8.6 million
Under the current agreement Summit County keeps 10% of the total revenues and pays 90% of it to the CVB for tourism promotion. The new agreement supports the Council’s goal to invest more of this TRT revenue in lasting assets that have a life beyond an annual operations or promotion budget.
The amendment to the TRT agreement will be implemented in July 2018, in line with the CVB’s annual budget year. It will provide a three-year transition period to the new 70/30 split, moving from 90/10 in 2017, to 83/17 in 2018, 76/24 in 2019 and 70/30 in 2020.
“We want to invest in tourist and recreational facilities and amenities Countywide that will have a long-lasting return on investment,” said Chris Robinson, Summit County Council. “Whether it be constructing a tourism-related facility or purchasing the land to do so, the Summit County Council is interested in investing more in hard assets that secure opportunities that will allow us to support our tourist industry for the future.”
About Summit County:
Located in the northeast corner of Utah along the Wasatch Back, Summit County is home to more than 41,000 residents. Created in 1854, Summit County was named for the summits of the mountains, including 39 of the highest mountain peaks in Utah. Six municipalities make up Summit County, including Coalville, Francis, Henefer, Kamas, Oakley and Park City. The county seat is quiet, scenic Coalville, located on the I-80 corridor. For more information visit www.summitcounty.org.
About the Park City Chamber of Commerce | Convention & Visitors Bureau:
The 1,000 member-strong non-profit organization seeks to strengthen the local business climate throughout Summit County, with the singular goal of creating the most vibrant mountain economy in North America. The organization operates with a Convention Sales team that proactively works to have Summit County facilities utilized for conferences and meetings twelve months out of the year. The organization’s International Sales team oversees promotional efforts in 10 key worldwide markets to ensure the area receives its share of leisure and group travel from abroad while Communications and Marketing teams keep Park City and Summit County in the headlines of American magazine’s newspapers and television programming through editorial relations and television/online advertising and social media campaigns. The organization’s tourism website is www.visitparkcity.com.
Community and Public Affairs Coordinator
Director of Communications
Park City Chamber of Commerce | Convention and Visitors Bureau