Nevada hotels projected to contribute $8.1bn in taxes in 2024
Nevada’s hospitality industry is projected to pay $14.4bn in wages, salaries and compensation.
US.- The American Hotel and Lodging Association’s (AHLA) state-by-state comparison of economic impact states that hotels in Nevada are forecast to generate approximately $8.1bn in taxes this year. This comprises $3.7bn in federal taxes and $4.4bn in state and local taxes, making it the third-largest hotel sector for tax contributions nationwide, trailing only California and New York.
Nevada’s hospitality industry is projected to pay $14.4bn in wages, salaries and compensation this year, the second-highest for the sector.
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The AHLA highlighted 2023 as a comeback year for hotels, with higher occupancy rates anticipated for 2024. However, challenges persist due to worker shortages. Bureau of Labor Statistics data indicate that the average hourly wage for hotel workers was $23.84 in February, with 1.36 job vacancies for every unemployed person.
In Nevada, the hotel sector still faces a shortage of approximately 10.6 per cent of its pre-pandemic workforce. The shortage is particularly acute in the Las Vegas Valley, where unadjusted figures reveal a 15 per cent decline in numbers compared to February 2019.
