Hotel revenues fall in third quarter

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Even after adding more rooms over the past year, local hotel revenues in Snyder dropped in the third quarter compared to the second quarter of this year as well as the same three months last year, according to figures released by the Comptroller of Public Accounts office.
During the third quarter of 2015 hotels reported taxable receipts of $1.429 million, which is $331,186 less than the  third quarter of 2014 ($1.76 million).
This year, a total of 674 rooms were available in Snyder while during the same time period in 2014, 652 rooms were available.
During the second quarter of 2015, when 646 rooms were available, taxable receipts totaled $1.7 million.
Compared to the second quarter, the third quarter lost $273,989 in taxable receipts.
Holiday Inn Express had the highest taxable receipts in Snyder during the quarter. The hotel reported $398,478, down from $635,631 reported during the third quarter of 2014.
Hampton Inn Snyder, which was not open in 2014, reported taxable receipts of $297,749 for the quarter. During the second quarter, the hotel had taxable receipts of $158,658, which was for the two months it was open. The hotel opened in May 2015.
Best Western Snyder Inn reported a total of $176,787 in receipts for the quarter, down from $250,800 in 2014.
Days Inn was up compared to the third quarter of 2014. This year, Days Inn reported $120,213 compared to $111,988 last year.
Purple Sage Motel had the fifth highest total of the quarter at $118,046. A year ago, the motel reported $151,874.
The Baymont Inn and Suites Snyder collected $339,501 in 2014, but dropped to $95,333 in the third quarter of 2015. During the second quarter this year, Baymont Inn collected $332,763.
Two hotels are currently under construction in Snyder — Comfort Inn and Suites and Fairfield Inn. Comfort Inn is scheduled to open later this year while Fairfield will open next year.
The City of Snyder budgeted an increase in hotel occupancy tax revenues for the 2015-16 fiscal year. The city budgeted $575,000 for 2015-16, a $75,000 increase to last year’s budget total of $500,000.