City of London Awards Financial Services Contract to Tourism London (September 2024)

The Strategic Priorities and Policy Committee received Tourism London’s annual report on Municipal Accommodation Tax expenditures and approved direction to raise the MAT rate from 4% to 5% by January 1, 2026. Tourism London will continue to receive fifty percent of net MAT revenues for tourism promotion under the existing policy framework.

Document date · September 17, 2024

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Scope & details

The full contract record, as filed.

Contract amount

Fifty percent of net Municipal Accommodation Tax (MAT) revenues

Contract type

FINANCIAL_SERVICES

Contract term

Increase to 5% MAT rate to take effect no later than January 1, 2026; ongoing allocation per Council policy

Renewal

Allocation of 50% of net MAT revenues to Tourism London is ongoing under Council’s MAT policy and will continue after the rate increase unless the policy is later amended.

Document type

Minutes

Source document

City of London Minutes Strategic Priorities and Policy Committee 2024-09-17

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of London?

Tourism London was awarded this financial services contract by City of London, as recorded on September 17, 2024.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in City of London Minutes Strategic Priorities and Policy Committee 2024-09-17 (Minutes), dated September 17, 2024 from City of London. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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