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Indian Wells Business

City and business officials are proud to point out that the City of Indian Wells is not only prosperous but also benefits from being one of California’s wealthiest and financially well-managed communities, thanks to reliable accounting practices, with a major emphasis on solid fiscal plans for the next several decades.

In Indian Wells, big business is found in the form of the community’s hospitality industry and its four hotels.

A majority of tax base in the community is a bed tax, provided by the 1,416 hotel rooms at the four major hotels: The Renaissance Esmeralda Resort, Hyatt Grand Champions Resort, Miramonte Resort and the Indian Wells Resort Hotel.

Each of the five-star resorts puts a strong emphasis on hospitality and stellar customer service.

As a result, in recent years hotel room sales have reached more than $50 million and the Transient Occupancy Tax (TOT) has increased by 17 percent.

In addition to the resort properties, Indian Wells boasts several commercial and retail establishments, guided by a strong Chamber of Commerce focused on economic vitality and committed business strategies.

The Chamber supports both the Fortune 500 companies that flock to Indian Wells for business conferences, as well as the growing number of banks, stock brokerage firms and accounting offices that have set up shop in the area.

In addition to Indian Wells’ affluent residential base and a strong economic environment, businesses can also prosper from the Coachella Valley’s healthy economy.

In recent years, thousands of new housing permits have been issued, the majority for the eastern half of Coachella Valley. The robust housing market has also been a catalyst for expansion in the homebuilding, retail and healthcare area.

Taxable retail sales in Indian Wells’ resorts and retail centers along the Highway 111 corridor have dramatically increased in the last decade, and as of 2003, total taxable sales in Indian Wells reached more than $67 million while per capita spending amounted to more than $14,000. Some of the strongest growth has been witnessed in the community’s non-hotel-affiliated restaurants, which reached some $12 million in annual sales during 2001 and 2002. The overall retail expansion is expected to be bolstered with the planned construction of Miles Crossing at Miles Avenue and Highway 111.