1st TTBID (2015-2020)
In 2015, facing the loss of tourism marketing funds once provided by the Town of Truckee to the Chamber of Commerce, Truckee’s lodging businesses voted to establish the first TTBID, a 2% self-assessment fee to drive destination marketing and advocate for the industry. TTBID funds were then used to help grow lodging revenue from $28M to $43M by FY18/19, doubling traveler spending in Truckee's Tourism Economy from $20M to $42M. By the end of 2019, national and regional news about Truckee earned over $12M in media coverage, boosting our destination's appeal and strengthening our tourism economy.
2nd TTBID (2020-2025)
In 2020, Visit Truckee-Tahoe (VTT) was formed as Truckee's first official tourism authority to manage the second TTBID, ensuring lodging decision control and expanding efforts to include stewardship initiatives.
Amid the challenges of COVID-19, TTBID funding allowed VTT to help sustain the lodging industry under extraordinary operating pressures, while achieving a record $68M in lodging revenue.
Visit Truckee-Tahoe’s immediate priority in the first year of Covid-19 was to defend, protect, sustain and build resilience for lodging owners. We needed to not only weather the catastrophic impacts of the pandemic to our industry at the outset, we had to protect the destination from harmful media coverage and over-visitation negative impacts.
- We lobbied and worked closely with NV County to get, and keep lodging open.
- We provided emergency disaster recovery funding for Truckee’s lodging business owners when the state and federal government did not provide meaningful financial aid.
- We managed messaging and media relations to prevent long term, negative brand tarnish, helping Truckee stay out of the Lake Tahoe “overtourism” media bullseye.
- We were leaders amongst our Tahoe competitors by launching Sustainable Truckee with over 20 programs and initiatives that continue to have strong impacts today.
- We prevented unwelcoming citizen backlash to “overtourism” through persistent, consistent messaging, community surveys, and outreach.
3rd TTBID (2025-2035)
In the past two years, the “normalization” of California travel patterns is the primary reason behind Truckee’s decline in lodging revenue. Yet, at $54M forecasted this fiscal year 24/25, we are well above pre-Covid $43M in lodging revenue in FY 18/19.
This leveling off is incredibly challenging for lodging owners (Truckee’s hosts, property managers, hoteliers) who rely upon revenue for business income and who ramped up operations to handle record-breaking demand in 2020-2022.
Truckee’s third TTBID is critical for Visit Truckee-Tahoe, the official tourism authority, to return lodging revenue to growth. Funds from TTBID Renewal will be used to stem, then turnaround Truckee’s declining lodging revenue and potential loss of market share to North, South Lake Tahoe and other winter town destinations in the US.
.svg)
.svg)
%20(800%20x%20533%20px).jpg)
