Vacation rental website Airbnb and the city have reached a deal involving the Convention and Sports Tax and the Tourism Tax. The company will automatically collect the taxes and transfer that money to St. Louis officials.
“It’s really a big deal for St. Louis,” said Ben Breit, Airbnb’s Midwest public affairs manager.
“We’re about to see a whole lot of new revenue coming in and I think everyone’s excited about that.”
City officials said the deal will unlock a new source of tax revenue. The Convention and Sports Tax rate is 3.5 percent and the Convention and Tourism Tax is 3.75 percent.
And that money should help in several areas, according to Explore St. Louis President Kathleen Ratcliffe.
“This tax revenue is important to Explore St. Louis for marketing,” she said, in a joint news release.
“And the City of St. Louis for general revenue and bond payments,” Ratcliffe added.
Some of the money will also help with arts-related grants.