MYRTLE BEACH, S.C.—The economy along the Grand Strand remains strong and newly released indicators show the trend will continue through the holiday season, according to data compiled by the Myrtle Beach Area Chamber of Commerce (MBACC) and Convention and Visitors Bureau (CVB).
On Friday, Oct. 29, 2021, the CVB released its latest Lodging Metrics report showcasing occupancy rates and additional accommodation data for the week of Oct. 17 – 23, 2021. According to KeyData, one of the sources used to compile the weekly report, occupancy rates for the first four weeks of October (starting Sept. 27) have surpassed the past two years. In fact, over the past month, the average occupancy rates have been nearly 20 percent higher than 2020 and 30 percent over 2019 figures.
Occupancy bookings for the next 60 days also remain higher than average, pacing at nearly 7 points ahead of 2019 and 2 points ahead of 2020, according to KeyData’s analysis of both paid and owner-occupied units.
Data coming from online travel agencies Tripadvisor and Expedia also confirm the trend. In its 2021 Fall Travel Index, Tripadvisor revealed that Myrtle Beach is the fourth most popular destination Americans are visiting, followed only by Las Vegas (No. 1), New York City and Orlando. Likewise, Expedia recently announced that Myrtle Beach was the No. 7 U.S. destination to visit for the Thanksgiving holiday.
“On top of the strong destination demand we’ve experienced so far this fall, our holiday season is also poised to produce strong results. This is further emphasized by the upcoming reopening of the Canadian land border, the launch of the new Winter Wonderland at The Beach festival, and increased flights available at Myrtle Beach International Airport,” said Stuart Butler, MBACC and CVB Chief Marketing Officer.
Karen Riordan, MBACC and CVB President and CEO, further added, “Our chamber members are immensely encouraged by these findings as we enter our holiday season, because a strong, year-round economy ensures that our businesses and workforce can thrive. This is true not only for our hospitality and leisure employees, but those who work for the multitude of ancillary businesses who depend on the tourism industry.”
The CVB’s weekly Lodging Metrics report can be found online at MyrtleBeachAreaCVB.com/lodging-dashboard.
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Editor’s Note: Links to both the Tripadvisor and Expedia reports can be found near the end of the Lodging Metrics report.
About Myrtle Beach Area Chamber of Commerce and Convention and Visitors Bureau:
Since 1938, the Myrtle Beach Area Chamber of Commerce (MBACC) has stood as the unified voice of the Grand Strand's business community — serving Myrtle Beach, North Myrtle Beach, Little River, Loris, Atlantic Beach, Carolina Forest, Conway, Aynor, Socastee, Surfside Beach, Garden City Beach, Murrells Inlet, Litchfield Beach and Pawleys Island. The U.S. Chamber of Commerce has awarded MBACC its five-star accreditation — one of only a few chambers in South Carolina to earn this distinction. The Myrtle Beach Area Convention and Visitors Bureau (CVB) and its destination marketing arm Visit Myrtle Beach promote tourism through various partnerships and initiatives to advance the economic success of the Grand Strand. For more information, visit MyrtleBeachAreaChamber.com, MyrtleBeachAreaCVB.com and VisitMyrtleBeach.com.