What is a TDMD?
The Cape Cod Chamber is working to form a Tourism Destination Marketing District - or TDMD - for Cape Cod.
What is a TDMD and what does it mean for lodging businesses, tourism, and our region's economy?
A TDMD is a form of public-private partnership that provides designated tourism promotion funds for a specific geographic region. Regional Tourism Councils (like the Cape Cod Chamber) are the only entities that can initiate the formation of a TDMD, by Massachusetts state law. Due to the significant benefits a TDMD could bring to Cape Cod, the Chamber is actively pursuing this opportunity to help secure the future economic vitality of our region.
How are funds raised through a TDMD?
A Cape Cod TDMD would be funded through a special assessment on all hotels and motels located within the boundaries of Cape Cod’s fifteen towns. The proposed assessment rate for Cape Cod’s TDMD is 1.5% of gross room revenue, to be paid by lodging customers through a room bill surcharge.
What are the potential benefits for Cape Cod?
It is estimated that Cape Cod’s TDMD could generate as much as $2 million for our region which, by state law, must be used to provide direct benefits to lodging businesses through specific, plan-approved activities. These activities could include targeted marketing campaigns and financial incentives to drive business during lower-occupancy times; eco-tourism and sustainability initiatives; and strategic investments to support workforce initiatives, housing, and economic development, to name a few.
