Tourist-tax revenues in July were down from June and flat compared to July 2023, but collections for the year to date remain nearly on par with the historically high levels from a year ago.

July receipts totaled $26.6 million, down $3.9 million from June and about $600,000 less than July 2023.

Revenues for fiscal year 2023-24 are about $1 million behind the pace of fiscal year 2022-23, which pulled in a record $359 million, said Orange County Comptroller Phil Diamond, whose office tracks collection and spending of Tourist Development Tax (TDT) funds. That should give the county some additional money to funnel toward construction projects, since Diamond had forecast a down year and revenues are ahead of his projected pace by about $35 million.

Fiscal year 2023-24 ends Sept. 30.

TDT is a 6% surcharge on the cost of a hotel room, an Airbnb or other short-term lodging rental.

The tax, first assessed in 1986, has generated more than $5.2 billion over the decades with more than half the total proceeds going to build, expand, update and operate the Orange County Convention Center. The tourist tax also provides most of the funding to operate Visit Orlando, which promotes Central Florida’s attractions to the U.S. and the world. By contract, Visit Orlando gets 30 cents of every dollar collected.

Other top U.S. tourism destinations also had a flat July.

According to Visit Orlando, hotel occupancy across the top 25 markets was down slightly, influenced by budget-conscious households taking fewer trips and higher-income households traveling abroad. But average room rates are up, which keeps overall revenues steady.

The current popularity of the cruise industry also was a factor, said Casandra Matej, Visit Orlando’s president and CEO.

“The outlook for August to December remains optimistic,” she said. “Current booking data shows that Orlando hotel demand is projected to be slightly higher than last year with on-the-books room nights up by 2%. Advance airline ticket sales to Orlando are up 5.9% year-over-year with growth in both domestic and international markets. Short-term rental demand is also pacing 3% ahead for the rest of the year.”

TDT reserves grew to more than $408 million in July, some of which will offset the cost of projects and programs approved by Orange County commissioners to receive funding. Those include a convention center expansion project, now underway but without an updated price tag; Camping World Stadium renovations; the UCF football stadium tower project; and grants for arts and cultural groups.