March 26, 2026

After thoughtful analysis from Tourism Economics Senior Economist Daryl Cronk and a finance committee recommendation, the board approved a net revenue forecast of $34.5 million for FY27. While acknowledging headwinds from global economic pressures, the board remains optimistic.

The United States’ 250th birthday celebrations, the G20 Finance Track in August, and the PGA TOUR Biltmore Championship Asheville and Outdoor Media Summit in September are all driving travel interest and positioning the Asheville area for a strong rebound this year.

Other takeaways from the March 2026 board meeting include:

• February lodging occupancy and demand;
• Legacy Investment from Tourism (LIFT) Fund 2026 cycle opens April 1, and applications for a LIFT Committee lodging appointment open this Friday;
• Several exciting ways to honor the people and places that sustain the Asheville area's travel & hospitality industry.
  

Tomorrow, the board and other volunteer leadership will gather for our Annual Planning Session. We hope you can tune in for important updates on local resident sentiment and a tourism asset and market analysis.

February hotel occupancy was 51%, down 11 points from 2025 and four points from 2023. Hotel demand was down 16% from 2025, when 10% of roomnights were supported by the TSA FEMA voucher program supporting displaced residents.

February vacation rental occupancy was 45%, down seven points from 2025 and two points from 2023. Vacation rental demand was down 15% from 2025.

The application cycle for the Buncombe County Tourism Development Authority’s Legacy Investment From Tourism (LIFT) Fund opens on April 1, 2026. The LIFT Fund provides strategic investment in tourism-related capital projects that increase patronage of lodging, meeting, and conference facilities in Buncombe County while benefiting the community at large.

The authority estimates that approximately $11 million will be available for investment in this year’s funding cycle.

Tomorrow, eligible partners may apply to serve as a lodging appointment on the LIFT Committee for a term of three funding cycles, renewable for up to two terms. The application period will close two weeks later, on Friday, April 10, at 5 p.m.

During their March meeting, the Finance Committee reviewed travel data and discussed the role of travel and hospitality as the front line of an optimistic yet realistic economic rebound for our community.

As a result, the authority approved the committee's recommendation to establish a FY27 net lodging tax revenue forecast of $34.5 million, just above the baseline provided by Tourism Economics of $34.3 million.

Other Tourism Economics data that informed this decision:

• Due to the conflict in Iran, national consumption growth projections have been reduced from 2.4% to 1.9%, and inflation is forecast above 3%.
• The K-shaped economy will be further exacerbated—low to middle-income households have a greater share of their spending going to gas, energy, food, and things affected by higher prices. Higher-income households can more comfortably absorb that into their budgets.
• Through February, travel indicators have improved nationwide, with TSA checkpoint volume up 2.7%, hotel demand rising nearly 3%, and average daily rate (ADR) increasing 2%. Overseas arrivals turned positive, possibly due to the Lunar New Year rather than a new growth trend.
• Local hotel demand rebounded 5.4% in 2025, lifted by recovery efforts plus favorable year-over-year comparisons in the fourth quarter.
• Local hotel ADR fell 2.9% in 2025 despite demand growth, as the room nights generated by recovery efforts were often at discounted rates. ADR is forecast to rebound in 2026, helped by comparisons against steep declines in the spring and summer of 2025.
• Local lodging tax collections are expected to grow 10% in 2026 yet are still projected to fall below the 2022 peak.

In honor of National Travel and Tourism Week (May 3–9), Explore Asheville and the authority invite you to celebrate travel’s essential role in driving our national and local economy, cultivating vibrant communities, and forging connections.

Join us for the third annual Explore Asheville Heroes of Hospitality Awards Luncheon, May 4, 11:30 a.m.–2 p.m. in the Heritage Ballroom at the Omni Grove Park Inn.

Nominations will be accepted for non-managerial service employees or volunteers who:

• Have direct contact with visitors or support guest-facing experiences
• Serve as outstanding ambassadors for Asheville and Buncombe County
• Consistently demonstrate exceptional hospitality and service

Partners interested in sponsoring the event can contact McKenzie Provost, mprovost@exploreasheville.com.

Join us and your industry colleagues for the 2026 Explore Asheville Travel & Hospitality Earth Day Cleanup, supported by Asheville GreenWorks, RiverLink, and MountainTrue, on Wednesday, April 22, from 2 to 4:30 pm.

Participants can choose between Biltmore Village, River Arts District, Swannanoa River, and West Asheville. Each neighborhood will have a host venue for a pre and post-cleanup meetup.

Celebrate the local travel and hospitality industry with an exciting night of baseball as the Asheville Tourists face the Rome, Georgia Spartans at the newly renovated McCormick Field, at 6 p.m. on Tuesday, May 5!

Purchase your discounted $5 tickets online using the code EXPLORE. Group tickets of 10 or more can be purchased directly via Nicole Oosterling at 828-378-1037 or noosterling@theashevilletourists.com.

The McCormick Field Centennial Restoration & Capital Improvements Project and Travel & Hospitality Night are made possible in part by a nearly $23 million investment from the Major Works Pathway Tourism Product Development Fund (TPDF).

The renovated stadium will open on April 21, kicking off the 2026 season.

MORE INFORMATION & NEXT MEETING OF BCTDA

Find documents from the March 26 board meeting HERE >>

THE NEXT BCTDA BOARD MEETING
Wednesday, April 29 | 9–11 a.m.
Explore Asheville | 27 College Place
Details to be posted HERE >>

Delivering Balanced 
& Sustainable Growth

Encouraging Safe & Responsible Travel 

Engaging & Inviting More Diverse Audiences

Promoting & Supporting Asheville's
Creative Spirit