Airbnb continues to grow, and now Houston stands to benefit from that growth with a new hotel tax agreement.
The online hospitality company has agreed to collect Houston's 7 percent hotel occupancy tax, which could generate another $3 million a year for the city.
“Not only is the city and tourism getting money, but so is the arts community. They get 20 percent of that money,” says Laura Spanjian, senior policy director for Airbnb.
The company inked a similar deal with the state of Texas in 2017.
“Our numbers significantly increased this year, from $15 million last year to $24 million this year, we were able to deliver that revenue to the state,” says Spanjian.
That money goes to both the state's general fund and governors economic development and tourism office.