City of San Diego to lose estimated $300 million in tax revenue due to COVID-19 pandemic
SAN DIEGO (KUSI) – The COVID-19 pandemic will cost San Diego about $300 million dollars in tax revenue by next summer.
According to projections from city officials, another $48 million will be lost in hotel taxes.
This number is up from earlier estimates.
Since the pandemic began, city officials have revised hotel tax projections for this fiscal year down from $270 million to $120 million.
That comes out as a 55% drop.
City officials also said those numbers are based on an estimated 380,000 fewer bookings.
General Manager of the Marriott San Diego Gaslamp Quarter, Jeffrey Burg, discussed the state of the hotel industry on KUSI News.