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With the current shelter-in-place orders, Bay Area hotel occupancy rates have plummeted to below 20 percent, and in some cities, rates are in the single digits. Oakland’s budget director projects hotel tax revenue falling by $9 million to $18.01 million this fiscal year alone—part of a potential $80 million budget shortfall over the next 14 months.
With the current shelter-in-place orders, Bay Area hotel occupancy rates have plummeted to below 20 percent, and in some cities, rates are in the single digits. Oakland’s budget director projects hotel tax revenue falling by $9 million to $18.01 million this fiscal year alone—part of a potential $80 million budget shortfall over the next 14 months.
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