The Real Deal Miami

Revenue shortfall seen for costly stadium

February 02, 2009 10:20AM

Hotel tax revenue would need to hit record highs to cover the price tag for the new Florida Marlins baseball stadium. A Miami Herald analysis showed that even before the economic collapse last autumn, hotel tax revenue wasn’t going to suffice for debt service. Hotel taxes — also known as bed taxes — are supposed to fund nearly half of the construction tab for the Florida Marlins’ new $609 million home. Now that those taxes have fallen with the tourism slump, it’s even less clear that financing plans will have any chance of success.