(MENAFN- Newsfile Corp) Invermere-Panorama Tourism Revenue Agreement Directly Supports Vital Community Housing Initiatives in the Columbia Valley
Online Accommodations Platform (OAP) tax contributions from short-term rentals, such as Airbnb and VRBO, in Invermere-Panorama, will be reallocated to support vital community infrastructure projects.
Radium, British Columbia--(Newsfile Corp. - May 9, 2023) - The Columbia Valley Tourism Marketing Society (CVTMS) and their regional stakeholders at the Invermere-Panorama Destination Marketing Organization, have announced that they will be committing 50% of the region's online accommodations (OAP) tax revenue towards community housing development initiatives. The move comes as tourism in the region stabilizes, returning to pre-pandemic visitation numbers, and the agreement will remain in place from 2024-2028.
"Tourism is an essential economic driver in the Columbia Valley, both directly and indirectly. As a destination marketing organization, we are proud to welcome visitors to the region, in part because we know how important non-resident dollars are for community development initiatives, such as vital housing projects in our communities," said Jessica Fairhart, Executive Director, Columbia Valley Tourism Marketing Society. Adding, "Tourism in the Columbia Valley supports employment opportunities, infrastructure development and serves as a catalyst for a variety of cultural and social opportunities. As representatives of the tourism industry and operators in the region, we are proud to be in a position to support our fellow residents and our Columbia Valley community."
The Columbia Valley Tourism Marketing Society is a destination marketing organization with a mandate to work in tandem with partners to amplify events, support local businesses, showcase tourism operators, drive shoulder season and need period visitation, invest in community non-profits, and conducts destination development strategies, helping businesses in the area to thrive and grow. The indirect result of this work is a sustainable economic engine in the Columbia Valley that supports the quality of life of residents and strengthens community development opportunities.
"Understanding the affordable housing challenges that currently exist in the Columbia Valley which negatively impact its communities, including tourism-oriented businesses and operations; the District of lnvermere Mayor and Council are in full support of the Columbia Valley Tourism Marketing Society (CVTMC) and the lnvermere-Panorama Destination Marketing Organization (IP-DMO) allowing 50% of the OAP funds collected each year to be used to help fund initiatives aimed at delivering affordable/ attainable housing units in the Columbia Valley area," said Al Miller, Mayor, District of lnvermere.
"Visitors from near and far visit the Columbia Valley to find more of themselves and experience our natural and breathtaking experiences. As residents of the region, we are incredibly fortunate to call the Valley home, and this investment in our community represents the ongoing commitment of the tourism industry as an economic contributor and community partner moving forward," Added Fairhart.
To learn more about the Columbia Valley Tourism Marketing Society visit .
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About Travel Columbia Valley
Travel Columbia Valley is here to share the experiences that make this corner of the world so incredible. As a partnership between Tourism Radium, Invermere-Panorama, and Area F, Travel Columbia Valley acts as a regional destination marketing organization for the communities of Radium Hot Springs, Invermere, Panorama, Fairmont Hot Springs, and area.
The Columbia Valley Tourism Marketing Society and Travel Columbia Valley are the same entity; with the Columbia Valley Tourism Marketing Society as the legal operating name and Travel Columbia Valley as the consumer name. The Columbia Valley Tourism Marketing Society is guided by a volunteer board of directors representing the accommodation sectors, activity operators, and businesses throughout the Columbia Valley.
The Travel Columbia Valley team works to promote tourism and visitation to the Columbia Valley by pursuing traditional, digital, and social media forms to connect with future visitors.
Media Contact:
James Falls
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t: 4034737705
To view the source version of this press release, please visit