After tomorrow's playoff games we will know who will play in Super Bowl 50 here in the Bay Area. Two weeks later the Big Game will bring big money to a variety of businesses. One can only hope B'game's hotels will be full and the Transient Occupancy Tax ("TOT") will flow into the city's coffers. The NFL alone has reserved 18,000 hotel rooms. About one-third are on the Peninsula and we are prime turf for getting easily to both EssEff and Santa Clara.
The major missed opportunity is to also collect TOT from AirBnB and VRBO renters. It's too late to rake in what will be one of the largest potential takes B'game is likely to see in the next decade or more, but that is no reason not to rectify the oversight afterwards. If you scroll down to page 36 of the 2015-'16 CAFR* located here, you will see that TOT is about 38% of total city revenue. Right now it is $23.7 Million, but it could be even bigger.
Searching the AirBnB site for rentals on Super Bowl weekend indicates only 15% of the available listings are left to be rented in B'game and the average price is $466 per night. That, dear bloggers, is a lot of missed TOT! Let's hope this City Council learns from the mistakes of the last one. This was totally foreseeable.
* CAFR is the Comprehensive Annual Financial Report