2024 Annual Comprehensive Report

In second quarter 2024, there were 744 single-family home closings in Greensboro, a slight decrease of 0.4% compared to the same period last year. The second quarter 2024 median home sales price in Greensboro was $325,500, an 8.5% increase compared to the same period last year. (Greensboro Regional REALTORS® Association) There are currently 10,871 hotel/motel rooms throughout the City comprising 92 hotels. Receipts from the City’s 3% occupancy tax totaled $5,891,907 in FY 2023-24. The Tourism Authority receives 20% of the City’s 3% occupancy tax, with the balance dedicated to debt service related to Coliseum complex improvements and maintenance on the facility. A portion of the County’s 3% occupancy tax is remitted to the City for capital improvements for tourism development activities and for support of the Steven Tanger Center for the Performing Arts debt service.

Guilford County has a robust and growing tourism industry, maximizing economic impact and vitality in the region. In 2023, Guildford County spent 8.7% more compared to 2022, representing $1.68 billion in spending. Overall, the state of North Carolina saw a 6.9% increase in tourism spending to $35.6 billion during 2023. The Greensboro Coliseum Complex (the “Coliseum Complex”) is a multi-building entertainment, sports and convention facility serving the residents of Greensboro, surrounding areas and beyond since 1959. The Coliseum Complex includes the 21,000-seat Greensboro Arena, the 167,000 square-foot Special Events Center with three exhibition halls, a 5,000-seat mini-arena, the 300-seat Odeon Theatre, The Terrace, White Oak Amphitheatre, Greensboro Aquatic Center (GAC), the ACC Hall of Champions, The Fieldhouse and the Steven Tanger Center for the Performing Arts. In July 2024, the Oak View Group (“OVG”) began managing and operating both the Coliseum Complex and the Steven Tanger Center for the Performing Arts. Prior to the start of this new contract, OVG was the provider for food and beverage services for the Coliseum Complex and continues to do so. In fall 2024, a naming rights arrangement was also established and the Greensboro Coliseum is now known as First Horizon Coliseum. This facility has a long and distinguished history of hosting ACC and NCAA basketball championships, as well as concerts by some of the top artists in the recording industry. Due to these events, Greensboro is appropriately known as “Tournament Town”. The First Horizon Coliseum is also home to an arena football franchise, the Carolina Cobras of the National Arena League, which began their in augural season in April 2018. Starting in

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