CHARLOTTE, N.C. (AP) — An analysis of sales tax data shows the 2012 Democratic National Convention in Charlotte packed local hotels, but appears to have had limited economic impact for the city as a whole.
The Charlotte Observer reported that data obtained from the North Carolina Department of Revenue hotel industry had perhaps its best month ever in September, with revenue up 82 percent compared with the same period in 2011.
Demand from the convention allowed hotel managers for charge two or three times their usual rate during the normally slow Labor Day week. Restaurants and bars also posted strong sales.
However, the data showed the four-day DNC didn’t dramatically boost retail spending. Tax receipts for businesses other than hotels, restaurants and bars increased by 2 percent in September, compared with 2011.
Credit: The Associated Press.