Virginia Beach Hotel Boom Ignites 15% Tourism Spending Surge

VIRGINIA BEACH — New luxury resorts along the Hampton Roads coast propelled a 15% rise in Virginia Beach visitor spending during the spring season, capping a banner year for tourism that injected $2.6 billion into the local economy in 2024. The Virginia Beach Convention & Visitors Bureau reported 14.3 million visitors last year, a 2% increase that sustained 34,076 jobs — 19% of the city's total workforce — and generated $340.8 million in state and local taxes, saving households $1,832 annually. Food and beverage purchases claimed 42% of spending, spotlighting the role of Oceanfront eateries amid the hotel expansion.

The hotel boom traces to strategic investments, with Virginia Beach dominating Hampton Roads' market at 38.3% of regional hotel revenue in 2019 and 66.1% of Airbnb revenue. Occupancy, revenue and revenue per available room rose steadily into early 2020 before the pandemic, and recent data shows Virginia Beach's RevPAR 7.3% above 2019 levels through mid-2021, with Chesapeake-Suffolk up 5%. The Virginia Beach Hotel Association underscores ongoing growth, as summer seasons see Oceanfront businesses thrive with packed boardwalks and events.

Pharrell Williams' Atlantic Park amplifies the surge, featuring The Dome arena, Wavegarden surf lagoon and beachfront amenities that promise record crowds despite economic headwinds like tariffs. Spring's 15% spending jump, first reported by WTVR CBS 6, aligns with broader momentum: tourism's total 2024 impact hit $3.9 billion including indirect effects. As 2025 unfolds, the VBCVB's annual report highlights partnerships fueling innovation, from cultural festivals to adventure draws that preserve Virginia Beach's coastal identity.

Hampton Roads markets like Norfolk and Williamsburg contribute, but Virginia Beach leads with events such as Something in the Water and the Virginia International Tattoo driving pre-pandemic peaks, including $17 million in August 2019 Airbnb revenue regionwide. Officials project sustained growth, positioning the area as a Southeast tourism powerhouse.