Loudon County, TN Loudon County (Loudon and Lenoir City areas) Hotel, Restaurant, and Travel Industries: Economic Profile and Business Trends, Steve Morse, Ph.D. Director & Economist Tourism Institute University of Tennessee Knoxville July 2007
Loudon County, TN Hotel, Restaurant, and Travel Industries: Economic Profile and Business Trends, Table of Contents Report prepared by: Tourism Institute Department of Retail, Hospitality & Tourism Management Hotel, Restaurant & Tourism Management Program University of Tennessee, Knoxville, Tourism Institute Graduate Research Assistants: Warren Jahn, Eva Smith, Chad Church Administrative Assistant: Judy Loveday Ph: (865) 74-2141; E-mail: smorse@utk.edu Report also available on web site at: http://utk.edu/tourism With support from: Dr. Bob Rider, Dean College of Education, Health, and Human Sciences Dr. Nancy Fair, Head Department of Retail, Hospitality, and Tourism Management About this report: The purpose of this county level report is to examine the direct business activity in the hotel, restaurant, and travel sectors of the local economy generated from all consumer spending. This report is not an economic impact report of tourist spending and multiplier impacts on jobs and revenues. For a county economic impact report from tourist spending see the publication The Economic Impact of Travel on Tennessee Counties from the Tennessee Department of Tourist Development at http:// www.tennessee.gov/tourdev/reports.html. 1. Loudon County employment & number of establishments for Hotel, Restaurant, and Travel industries, 2005 2. Loudon County ranking of Hotel, Restaurant, and Travel Industry employment to other county industries, 2005 3. Loudon County tax revenues generated, 2004-2005 for: Restaurant & Drinking Places Hotel & Lodging Arts, Entertainment, & Recreation 4. Loudon County employment and number of establishments by quarter & year, 2003-2005 for: Restaurant & Drinking Places Hotel & Lodging Arts, Entertainment & Recreation 5. Loudon County Gross Sales by Month, 2004 - for: Restaurant & Drinking Places Hotel & Lodging Arts, Entertainment & Recreation E-mail: tourism@utk.edu Phone: (865) 74-2141
Importance of the Hotel, Restaurant & Travel Industry to the Loudon County Economy Loudon County Employment and Number of Establishments in the Hotel, Restaurant, & Travel Sectors, 2005 NAICS Sector/Sub-Sector # of Employees # of Establishments 721 Accommodations 81 11 7211 Hotel, Motel, and B&B ND 72 RV Parks and Recreational Camps ND 2 7213 Rooming and Boarding Houses NC NC 722 Food Services and Drinking Places 835 44 7221 Full-Service Restaurants 507 23 7222 Limited-Service Eating Places 31 1 7223 Special Food Services ND 1 7224 Drinking Places (Alcoholic Beverages) ND 1 71 Arts, Entertainment, and Recreation NC 7111 Performing Arts Companies ND ND 71 Spectator Sports ND ND 7113 Performing Arts and Sports Promoters NC NC 7114 Agents and Managers for Public Figures NC NC 7115 Independent Artists/Writers/Performers ND 1 7 Museums, Parks and Historical Sites NC NC 713 Amusement, Gambling & Recreation NC 8 481 Air transportation NC NC 4853 Taxi and Limousine Service NC NC 4855 Charter bus industry NC NC 487 Scenic and Sightseeing Transportation NC NC 5615 Travel Arrangement and Reservation Services ND ND 56 Convention and Trade Show Organizers NC NC Total: Hotel, Restaurant, & Travel Sector 16 64 Source: TN Dept. of Labor and Workforce Development; U.S. Dept. of Labor, Bureau of Labor Statistics, and Tourism Institute, University of Tennessee Total: Hotel, Restaurant, & Tourism Sector = Summation of North American Industry Classifaction System (NAICS) codes 71, 721, 722, 481, 4853, 4855, 487, 5615, & 56 NC = Not Calculable, the data does not exist or it is zero ND = Not Disclosable E-mail: tourism@utk.edu Phone: (865) 74-2141
Ranking of Hotel, Restaurant & Travel Industries by Employment Relative to Other Industries, 2005 Loudon Co. Rank of Industries by Percent Employment Compared to Tennessee, 2005 County Industry Rank Industry Loudon County Tennessee Statewide 1 Trade, Transportation and Utilities 32.70% 24.44% 2 Manufacturing 26.60% 16.00% 3 Education and Health Services 16.78% 20.82% 4 Hotel, Restaurant, & Travel.21% 10.78% 5 Professional and Business Services 6.4%.15% 6 Financial Activities 4.01% 5.60% 7 Other Services 3.1% 2.7% 8 Construction 0.24% 5.00% Unclassified 0.06% 0.07% 10 Information NC 1.6% 11 Natural Resources and Mining NC 0.3% Source: TN Dept. of Labor and Workforce Development; U.S. Dept. of Labor, Bureau of Labor Statistics, and Tourism Institute, University of Tennessee NC = Not Calculable, the data does not exist or it is zero ND = Not Disclosable E-mail: tourism@utk.edu Phone: (865) 74-2141
County Tax Revenues Generated, 2004-2005 Hotel & Lodging, Restaurant, & Arts, Entertainment & Recreation LOUDON COUNTY, TN County Tax Revenues Generated, 2004-2005 Hotel & Lodging, Restaurant, & Arts, Entertainment, Recreation County Taxes Generated Industry County Tax Rate 2004 2005 Restaurant & Drinking 2.00% 765,30 860,665 Hotel & Lodging - Sales Tax 2.00% 100,5 107,664 Hotel Occupancy Tax 5.00% 250,313 26,160 Arts, Entertainment, & Recreation 2.00% 7,278 4,244 Total County Taxes Generated $1,15,647 $1,286,733 Source: TN Dept. of Labor and Workforce Development, TN Dept. of Revenue, and Tourism Institute, University of Tennessee E-mail: tourism@utk.edu Phone: (865) 74-2141
Restaurant & Drinking Establishments Employment & Number of Establishments, 2003- Restaurant & Drinking Establishments, by Qtr., 2004- Restaurant & Drinking, Number of Employees, by Qtr., 2004-60 00 55 50 45 40 35 30 52 50 47 46 45 45 43 42 42 42 41 1100 1000 00 800 700 600 1,051 1,047 75 5 868 8 760 718 721 704 677 Source: TN Dept. of Labor & Workforce Development; U.S. Dept. of Labor, Bureau of Labor Statistics; Tourism Institute, University of Tennessee 50 4 48 47 46 45 44 43 42 41 Restaurant & Drinking Establishments, 2003-2005 4 48 42 00 880 860 840 820 800 780 760 740 720 700 Restaurant & Drinking, Number of Employees, 2003-2005 64 713 860 40 680 E-mail: tourism@utk.edu Phone: (865) 74-2141
Hotel & Lodging Employment & Number of Establishments, 2003- Hotel & Lodging Establishments, by Qtr., 2004- Hotel & Lodging, Number of Employees, by Qtr., 2004-1 0 17 15 13 11 7 11 11 11 11 11 11 110 100 0 80 70 75 87 82 74 68 76 84 3 103 106 106 5 60 Source: TN Dept. of Labor & Workforce Development; U.S. Dept. of Labor, Bureau of Labor Statistics; Tourism Institute, University of Tennessee Hotel & Lodging Establishments, 2003-2005 Hotel & Lodging, Number of Employees, 2003-2005 15 82 14 13 11 14 13 81 80 7 78 77 76 76 7 80 10 75 E-mail: tourism@utk.edu Phone: (865) 74-2141
Arts, Entertainment, & Recreation Employment & Number of Establishments, 2003- Arts, Entertainment & Recreation Establishments, by Qtr., 2004- Arts, Entertainment & Recreation, Number of Employees, by Qtr., 2004-170 11 10 8 7 6 150 130 110 0 70 7 0 0 2 87 7 13 8 76 8 106 5 50 Source: TN Dept. of Labor & Workforce Development; U.S. Dept. of Labor, Bureau of Labor Statistics; Tourism Institute, University of Tennessee Arts, Entertainment & Recreation Establishments, 2003-2005 Arts, Entertainment & Recreation, Number of Employees, 2003-2005 10 0 113 8 8 110 100 0 80 70 63 103 7 60 E-mail: tourism@utk.edu Phone: (865) 74-2141
Restaurant & Drinking, Hotel & Lodging, & Arts, Entertainment, & Recreation Gross Sales by Month, 2004- Restaurant & Drinking, Gross Sales, 2004- Hotel & Lodging, Gross Sales, 2004-4.50 00,000 800,000 Gross Sales ($ Millions) 4.00 3.50 3.00 2.50 2005 2004 Gross Sales ($ Dollars) 700,000 600,000 500,000 400,000 300,000 200,000 100,000 2005 2004 2.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 4.13 3.18 3.1 4.02 4.04 4.22 4.20 3.83 3.8 2005 3.7 2.83 3.24 3.33 3.43 3.88 3.2 3.67 3.5 3.71 3.41 4.05 2004 3.56 2.5 3.10 3.1 3.43 3.42 3.47 3.24 3.17 3. 2.83 3.18 Month 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 44,685 422,250 643,714 64,683 655,453 731,668 818,82 683,67 68,730 2005 308,330 327,137 456,27 413,01 451,81 52,024 556,433 483,75 420,870 504,82 41,216 440,223 2004 26,546 23,415 404,138 41,71 437,221 4,40 546,258 418,230 442,843 474,385 368,861 332,460 Month Source: TN Dept. of Labor & Workforce Development; U.S. Dept. of Labor, Bureau of Labor Statistics; Tourism Institute, University of Tennessee Gross Sales ($ Dollars) 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Arts, Entertainment & Recreation, Gross Sales, 2004- Month 2005 2004 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 203,574 4,818 18,451 254,40 260,160 302,017 320,803 260,720 32,456 2005 158,71 107,28 144,70 237,8 285,618 280,034 255,318 240,286 225,26 233,244 143,476 14,23 2004 22,214 232,155 21,450 375,247 33,821 438,43 32,628 38,0 330,1 340,878 247,367 22,372 Gross Sales Reports Definitions Gross Sales: the total amount of money received in sales by a business in a specified period of time before any deductions for costs, raw materials, taxation or other costs of production. Restaurants & Drinking Places: retail establishments selling prepared food and drinks for consumption on the premises including full-service restaurants, limitedservice restaurants, caterers, and lunch counters. Also includes establishments selling beverage alcohol, in-plant food contractors as well as leased eating and drinking concessions in hotels, sports arenas, and other amusement places. Hotels & Lodging: establishments engaged in providing lodging services including hotels, motels, bed and breakfast inns, RV parks and recreational camps, and rooming and boarding houses. Arts, Entertainment & Recreation: establishments primarily engaged in amusement, recreation, entertainment services. Includes spectator sports, performing arts companies, museums, art and museums places, parks and historical sites. Data Source: Tennessee Department of Revenue E-mail: tourism@utk.edu Phone: (865) 74-2141