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HomeMy WebLinkAbout07. Vail RAO as of May 31 2024Executive Summary Res Activity Outlook as of May 31, 2024 Executive Summary Data based on a sample of up to 24 properties in the Vail destination, representing up to 2230 Units ('DestiMetrics Census'*) and 58.73% of 3797 total units in the Vail destination ('Destination Census'**) Last Month Performance: Current YTD vs. Previous YTD 2023/24 2022/23 Year over Year % Variance Vail Occupancy for last month (May) changed by (26.0%)Occupancy (May) :21.1%16.7%26.0% Vail ADR for last month (May) changed by (-15.7%)ADR (May) :$ 223 $ 264 -15.7% Vail RevPAR for last month (May) changed by (6.2%)RevPAR (May) :$ 47 $ 44 6.2% Next Month Performance: Current YTD vs. Previous YTD Vail Occupancy for next month (Jun) changed by (0.5%)Occupancy (Jun) :39.9%39.7%0.5% Vail ADR for next month (Jun) changed by (-3.2%)ADR (Jun) :$ 335 $ 346 -3.2% Vail RevPAR for next month (Jun) changed by (-2.7%)RevPAR (Jun) :$ 134 $ 137 -2.7% Historical past 6 months Month Actual Performance: Current YTD vs. Previous YTD Vail Occupancy for the past 6 months changed by (0.8%)Occupancy 55.1%54.7%0.8% Vail ADR for the past 6 months changed by (-1.9%)ADR $ 727 $ 741 -1.9% Vail RevPAR for the past 6 months changed by (-1.1%)RevPAR $ 401 $ 405 -1.1% Future 6 Month On The Books Performance: Current YTD vs. Previous YTD Vail Occupancy for the furture 6 months changed by (3.2%)Occupancy 25.0%24.2%3.2% Vail ADR for the future 6 months changed by (-0.9%)ADR $ 365 $ 369 -0.9% Vail RevPAR for the future 6 months changed by (2.2%)RevPAR $ 91 $ 89 2.2% Incremental Pacing - % Variance in Rooms Booked last Calendar Month: May 31, 2024 vs. Previous Year Rooms Booked during last month (May,24) compared to Rooms Booked during the same period last year (May,23) for all arrival dates has changed by (-6.2%)Booking Pace (May)4.0%4.3%-6.2% * Inntopia Census: Total number of rooms reported by participating Inntopia properties as available for short-term rental in the reporting month. This number can vary monthly as inventories and report participants change over time. ** Destination Census: The total number of rooms available for rental within the community as established by the and adjusted for properties that have opened / closed since that time. This number varies infrequently as new properties start, or existing properties cease operations. © 2024 Sterling Valley Systems, Inc. All rights reserved. No parts of this work may be reproduced in any form or by any means, graphic, electronic or mechanical, including photocopying, recording, taping or information storage and retrieval systems - without the written permission of the copyright holder. Products that are referred to in this document may be either trademarks and/or registered trademarks of the respective owners. The publisher and the author make no claim to these Trademarks. While every precaution has been taken in the preparation of this document, the publisher and the author assume no responsibility for errors or omissions, or for damages resulting from the use of information contained in this document or from the use of programs and source code that may accompany it. In no event shall the publisher and the author be liable for any loss of profit or any other commercial damage caused or alleged to have been caused directly or indirectly by this document. Vail Paid Occupancy (Most Recent Data) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Average Daily Rate (Most Recent Data) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Revenue Per Available Room (Most Recent Data) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Variance in YTD Occupancy and ADR Res Activity Outlook 2023/24 vs 2022/23 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Paid Occupancy (Summer-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Average Daily Rate (Summer-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Revenue Per Available Room (Summer-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Variance in YTD Occupancy and ADR (Summer-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Paid Occupancy (Winter-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Average Daily Rate (Winter-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Revenue Per Available Room (Winter-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Variance in YTD Occupancy and ADR (Winter-to-date) Res Activity Outlook 2023/24 vs 2022/23 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Paid Occupancy Fill Analysis Res Activity Outlook as of May 31, 2024 *Based on providing complete pacing data within a given month of occupancy only. Results may differ from those presented elsewhere in report if property set differs. **Results for "Percent Variance in incremental fill" indicate how room nights booked during the month just ended compare to room nights booked during the same month in the prior year, for occupancy in the month just ended and for the upcoming five months (as well as the six-month period in total). These results provide an indication of the degree to which booking activity occurring during the month just ended was greater or less than booking activity occurring in the same month a year ago -- i.e. a measure of the strength of booking activity occurring during the month just ended. Vail Paid Occupancy (Most Recent Data) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Occ Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy Occ Rate as of May 31, 2024 Occ Rate as of May 31, 2023 Occ Percent Variance in YTD Occ Rate Historic Actual Occ Rate CY Room Nights Available CY Room Nights Booked PY Room Nights Available PY Room Nights Booked # of Properties in sample Dec 23 60.4%57.0%6.0%72,878 43,994 73,931 42,111 25 Jan 24 70.5%68.7%2.6%73,193 51,594 72,145 49,574 25 Feb 24 73.9%78.0%-5.2%68,241 50,455 65,323 50,936 25 Mar 24 74.6%73.2%2.0%71,017 52,997 70,571 51,650 24 Apr 24 29.3%33.2%-11.8%70,264 20,554 69,817 23,168 25 May 24 21.1%16.7%26.0%69,130 14,571 65,799 11,006 24 Jun 24 39.9%39.7%0.5%44.2%67,377 26,881 65,795 26,120 24 Jul 24 42.8%40.6%5.4%60.9%68,536 29,359 67,155 27,298 24 Aug 24 26.6%30.1%-11.7%53.4%68,856 18,285 67,944 20,433 24 Sep 24 24.9%21.8%14.3%48.5%67,443 16,816 66,100 14,416 24 Oct 24 8.8%8.1%8.6%28.9%69,901 6,154 68,443 5,547 24 Nov 24 6.2%4.5%39.6%28.5%63,994 3,990 63,665 2,843 22 Grand Total 40.4%39.8%1.5%49.5%830,830 335,650 816,688 325,102 25 Historical Months Total 55.1%54.7%0.8%54.7%424,723 234,165 417,586 228,445 25 On the Books Total 25.0%24.2%3.2%44.1%406,107 101,485 399,102 96,657 24 Vail Average Daily Rate (Most Recent Data) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Average Daily Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy ADR as of May 31, 2024 ADR as of May 31, 2023 ADR Percent Variance in YTD Adr Rate Historic Actual ADR CY Room Nights Booked CY Room Revenue Booked PY Room Nights Booked PY Room Revenue Booked # of Properties in sample Dec 23 $773.76 $805.93 -4.0%43,994 $ 34,040,852 42,111 $ 33,938,397 25 Jan 24 $759.53 $770.13 -1.4%51,594 $ 39,187,341 49,574 $ 38,178,646 25 Feb 24 $866.43 $854.24 1.4%50,455 $ 43,715,505 50,936 $ 43,511,610 25 Mar 24 $812.17 $801.67 1.3%52,997 $ 43,042,342 51,650 $ 41,406,265 24 Apr 24 $339.75 $403.24 -15.7%20,554 $ 6,983,249 23,168 $ 9,342,367 25 May 24 $222.82 $264.47 -15.7%14,571 $ 3,246,699 11,006 $ 2,910,765 24 Jun 24 $335.39 $346.32 -3.2%$342.29 26,881 $ 9,015,491 26,120 $ 9,045,873 24 Jul 24 $423.72 $428.79 -1.2%$415.21 29,359 $ 12,439,887 27,298 $ 11,705,234 24 Aug 24 $411.45 $378.70 8.6%$378.58 18,285 $ 7,523,316 20,433 $ 7,737,957 24 Sep 24 $321.55 $315.67 1.9%$324.64 16,816 $ 5,407,244 14,416 $ 4,550,681 24 Oct 24 $263.52 $253.34 4.0%$264.26 6,154 $ 1,621,697 5,547 $ 1,405,292 24 Nov 24 $267.51 $418.97 -36.2%$306.55 3,990 $ 1,067,360 2,843 $ 1,191,130 22 Grand Total $ 618 $ 630 -2.0%$ 571 335,650 $ 207,290,983 325,102 $ 204,924,217 25 Historical Months Total $ 727 $ 741 -1.9%$ 741 234,165 $ 170,215,988 228,445 $ 169,288,050 25 On the Books Total $ 365 $ 369 -0.9%$ 351 101,485 $ 37,074,995 96,657 $ 35,636,167 24 Vail Revenue Per Available Room (Most Recent Data) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com RevPAR Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy RevPAR as of May 31, 2024 RevPAR as of May 31, 2023 RevPAR Percent Variance in YTD RevPAR Rate Historic Actual RevPAR CY Room Nights Available CY Room Revenue Booked PY Room Nights Available PY Room Revenue Booked # of Properties in sample Dec 23 $467.09 $459.06 1.8%72,878 $ 34,040,852 73,931 $ 33,938,397 25 Jan 24 $535.40 $529.19 1.2%73,193 $ 39,187,341 72,145 $ 38,178,646 25 Feb 24 $640.60 $666.10 -3.8%68,241 $ 43,715,505 65,323 $ 43,511,610 25 Mar 24 $606.09 $586.73 3.3%71,017 $ 43,042,342 70,571 $ 41,406,265 24 Apr 24 $99.39 $133.81 -25.7%70,264 $ 6,983,249 69,817 $ 9,342,367 25 May 24 $46.97 $44.24 6.2%69,130 $ 3,246,699 65,799 $ 2,910,765 24 Jun 24 $133.81 $137.49 -2.7%$151.24 67,377 $ 9,015,491 65,795 $ 9,045,873 24 Jul 24 $181.51 $174.30 4.1%$252.74 68,536 $ 12,439,887 67,155 $ 11,705,234 24 Aug 24 $109.26 $113.89 -4.1%$202.09 68,856 $ 7,523,316 67,944 $ 7,737,957 24 Sep 24 $80.18 $68.85 16.5%$157.38 67,443 $ 5,407,244 66,100 $ 4,550,681 24 Oct 24 $23.20 $20.53 13.0%$76.42 69,901 $ 1,621,697 68,443 $ 1,405,292 24 Nov 24 $16.68 $18.71 -10.9%$87.37 63,994 $ 1,067,360 63,665 $ 1,191,130 22 Grand Total $ 249 $ 251 -0.6%$ 283 830,830 $ 207,290,983 816,688 $ 204,924,217 25 Historical Months Total $ 401 $ 405 -1.1%$ 405 424,723 $ 170,215,988 417,586 $ 169,288,050 25 On the Books Total $ 91 $ 89 2.2%$ 155 406,107 $ 37,074,995 399,102 $ 35,636,167 24 Vail Data Tables (Summer-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Summer Bookings: Revenue Per Available Room: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy RevPAR as of May 31, 2024 RevPAR as of May 31, 2023 Percent Variance in YTD RevPAR Historic Actual RevPAR CY Room Nights Available CY Room Revenue Booked PY Room Nights Available PY Room Revenue Booked # of Properties in sample May 24 $46.97 $44.24 6.2%69,130 $ 3,246,699 65,799 $ 2,910,765 24 Jun 24 $133.81 $137.49 -2.7%$151.24 67,377 $ 9,015,491 65,795 $ 9,045,873 24 Jul 24 $181.51 $174.30 4.1%$252.74 68,536 $ 12,439,887 67,155 $ 11,705,234 24 Aug 24 $109.26 $113.89 -4.1%$202.09 68,856 $ 7,523,316 67,944 $ 7,737,957 24 Sep 24 $80.18 $68.85 16.5%$157.38 67,443 $ 5,407,244 66,100 $ 4,550,681 24 Oct 24 $23.20 $20.53 13.0%$76.42 69,901 $ 1,621,697 68,443 $ 1,405,292 24 Summer Total $ 95 $ 93 2.5%$ 147 411,243 $ 39,254,333 401,236 $ 37,355,802 24 Summer Bookings: Average Daily Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy ADR as of May 31, 2024 ADR as of May 31, 2023 Percent Variance in YTD Adr Rate Historic Actual ADR CY Room Nights Booked CY Room Revenue Booked PY Room Nights Booked PY Room Revenue Booked # of Properties in sample May 24 $222.82 $264.47 -15.7%14,571 $ 3,246,699 11,006 $ 2,910,765 24 Jun 24 $335.39 $346.32 -3.2%$342.29 26,881 $ 9,015,491 26,120 $ 9,045,873 24 Jul 24 $423.72 $428.79 -1.2%$415.21 29,359 $ 12,439,887 27,298 $ 11,705,234 24 Aug 24 $411.45 $378.70 8.6%$378.58 18,285 $ 7,523,316 20,433 $ 7,737,957 24 Sep 24 $321.55 $315.67 1.9%$324.64 16,816 $ 5,407,244 14,416 $ 4,550,681 24 Oct 24 $263.52 $253.34 4.0%$264.26 6,154 $ 1,621,697 5,547 $ 1,405,292 24 Summer Total $ 350 $ 356 -1.7%$ 350 112,066 $ 39,254,333 104,820 $ 37,355,802 24 Summer Bookings: Occ Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy Occ Rate as of May 31, 2024 Occ Rate as of May 31, 2023 Occ Percent Variance in YTD Occ Rate Historic Actual Occ Rate CY Room Nights Available CY Room Nights Booked PY Room Nights Available PY Room Nights Booked # of Properties in sample May 24 21.1%16.7%26.0%69,130 14,571 65,799 11,006 24 Jun 24 39.9%39.7%0.5%44.2%67,377 26,881 65,795 26,120 24 Jul 24 42.8%40.6%5.4%60.9%68,536 29,359 67,155 27,298 24 Aug 24 26.6%30.1%-11.7%53.4%68,856 18,285 67,944 20,433 24 Sep 24 24.9%21.8%14.3%48.5%67,443 16,816 66,100 14,416 24 Oct 24 8.8%8.1%8.6%28.9%69,901 6,154 68,443 5,547 24 Summer Total 27.3%26.1%4.3%42.1%411,243 112,066 401,236 104,820 24 Vail Data Tables (Winter-to-date) Res Activity Outlook as of May 31, 2024 © 2024 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Winter Bookings: Revenue Per Available Room: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy RevPAR as of May 31, 2024 RevPAR as of May 31, 2023 Percent Variance in YTD RevPAR Rate Historic Actual RevPAR CY Room Nights Available CY Room Revenue Booked PY Room Nights Available PY Room Revenue Booked # of Properties in sample Nov 24 $16.68 $18.71 -10.9%$87.37 63,994 $ 1,067,360 63,665 $ 1,191,130 22 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 Winter Total $ 17 $ 19 -10.9%$ 87 63,994 $ 1,067,360 63,665 $ 1,191,130 24 Winter Bookings: Average Daily Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy ADR as of May 31, 2024 ADR as of May 31, 2023 Percent Variance in YTD Adr Rate Historic Actual ADR CY Room Nights Booked CY Room Revenue Booked PY Room Nights Booked PY Room Revenue Booked # of Properties in sample Nov 24 $267.51 $418.97 -36.2%$306.55 3,990 $ 1,067,360 2,843 $ 1,191,130 22 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 Winter Total $ 268 $ 419 -36.2%$ 307 3,990 $ 1,067,360 2,843 $ 1,191,130 24 Winter Bookings: Occ Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy Occ Rate as of May 31, 2024 Occ Rate as of May 31, 2023 Occupancy Percent Variance in YTD Occ Rate Historic Actual Occ Rate CY Room Nights Available CY Room Nights Booked PY Room Nights Available PY Room Nights Booked # of Properties in sample Nov 24 6.2%4.5%39.6%28.5%63,994 3,990 63,665 2,843 22 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 Winter Total 6.2%4.5%39.6%28.5%63,994 3,990 63,665 2,843 24