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HomeMy WebLinkAbout13. Vail RAO as of June 30 2024Executive Summary Res Activity Outlook as of Jun 30, 2024 Executive Summary Data based on a sample of up to 25 properties in the Vail destination, representing up to 2401 Units ('DestiMetrics Census'*) and 63.22% of 3797 total units in the Vail destination ('Destination Census'**) Last Month Performance: Current YTD vs. Previous YTD 2024 2023 Year over Year % Variance Vail Occupancy for last month (Jun) changed by (4.2%)Occupancy (Jun) :47.9%46.0%4.2% Vail ADR for last month (Jun) changed by (-4.1%)ADR (Jun) :$ 317 $ 330 -4.1% Vail RevPAR for last month (Jun) changed by (-0.1%)RevPAR (Jun) :$ 152 $ 152 -0.1% Next Month Performance: Current YTD vs. Previous YTD Vail Occupancy for next month (Jul) changed by (3.6%)Occupancy (Jul) :52.7%50.9%3.6% Vail ADR for next month (Jul) changed by (2.9%)ADR (Jul) :$ 417 $ 406 2.9% Vail RevPAR for next month (Jul) changed by (6.6%)RevPAR (Jul) :$ 220 $ 206 6.6% Historical past 6 months Month Actual Performance: Current YTD vs. Previous YTD Vail Occupancy for the past 6 months changed by (0.3%)Occupancy 53.0%52.8%0.3% Vail ADR for the past 6 months changed by (-2.0%)ADR $ 655 $ 668 -2.0% Vail RevPAR for the past 6 months changed by (-1.7%)RevPAR $ 347 $ 353 -1.7% Future 6 Month On The Books Performance: Current YTD vs. Previous YTD Vail Occupancy for the furture 6 months changed by (5.4%)Occupancy 25.4%24.0%5.4% Vail ADR for the future 6 months changed by (2.8%)ADR $ 424 $ 413 2.8% Vail RevPAR for the future 6 months changed by (8.4%)RevPAR $ 108 $ 99 8.4% Incremental Pacing - % Variance in Rooms Booked last Calendar Month: Jun 30, 2024 vs. Previous Year Rooms Booked during last month (Jun,24) compared to Rooms Booked during the same period last year (Jun,23) for all arrival dates has changed by (22.8%)Booking Pace (Jun)6.1%5.0%22.8% * 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 Jun 30, 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 Jun 30, 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 Jun 30, 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 2024 vs 2023 © 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 Jun 30, 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 Jun 30, 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 Jun 30, 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 Jun 30, 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 Jun 30, 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 Jun 30, 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 Jun 30, 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 2024 vs 2023 © 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 Jun 30, 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 Jun 30, 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 2024 VS. YTD 2023 Month of Occupancy Occ Rate as of Jun 30, 2024 Occ Rate as of Jun 30, 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 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 47.9%46.0%4.2%72,016 34,489 69,671 32,014 25 Jul 24 52.7%50.9%3.6%61.2%72,824 38,396 70,437 35,860 25 Aug 24 34.6%36.3%-4.5%54.0%73,366 25,401 71,151 25,807 25 Sep 24 28.8%26.0%10.7%49.9%70,775 20,384 69,772 18,159 25 Oct 24 11.7%9.3%25.1%30.5%69,739 8,136 69,580 6,490 24 Nov 24 7.2%5.4%34.2%29.2%64,250 4,641 67,432 3,629 23 Dec 24 14.4%15.4%-6.9%60.4%72,804 10,469 71,667 11,065 25 Grand Total 39.2%38.3%2.2%50.3%847,619 332,087 833,365 319,358 25 Historical Months Total 53.0%52.8%0.3%52.8%423,861 224,660 413,326 218,348 25 On the Books Total 25.4%24.0%5.4%47.8%423,758 107,427 420,039 101,010 25 Vail Average Daily Rate (Most Recent Data) Res Activity Outlook as of Jun 30, 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 2024 VS. YTD 2023 Month of Occupancy ADR as of Jun 30, 2024 ADR as of Jun 30, 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 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 $316.88 $330.47 -4.1%34,489 $ 10,928,872 32,014 $ 10,579,826 25 Jul 24 $417.45 $405.57 2.9%$405.44 38,396 $ 16,028,471 35,860 $ 14,543,766 25 Aug 24 $406.11 $370.21 9.7%$369.62 25,401 $ 10,315,491 25,807 $ 9,553,919 25 Sep 24 $320.67 $314.94 1.8%$315.09 20,384 $ 6,536,629 18,159 $ 5,718,967 25 Oct 24 $244.62 $263.06 -7.0%$256.55 8,136 $ 1,990,197 6,490 $ 1,707,252 24 Nov 24 $269.50 $397.85 -32.3%$302.49 4,641 $ 1,250,759 3,629 $ 1,443,790 23 Dec 24 $903.80 $787.43 14.8%$773.76 10,469 $ 9,461,853 11,065 $ 8,712,925 25 Grand Total $ 580 $ 587 -1.2%$ 558 332,087 $ 192,687,410 319,358 $ 187,610,099 25 Historical Months Total $ 655 $ 668 -2.0%$ 668 224,660 $ 147,104,008 218,348 $ 145,929,479 25 On the Books Total $ 424 $ 413 2.8%$ 437 107,427 $ 45,583,402 101,010 $ 41,680,619 25 Vail Revenue Per Available Room (Most Recent Data) Res Activity Outlook as of Jun 30, 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 2024 VS. YTD 2023 Month of Occupancy RevPAR as of Jun 30, 2024 RevPAR as of Jun 30, 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 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 $151.76 $151.85 -0.1%72,016 $ 10,928,872 69,671 $ 10,579,826 25 Jul 24 $220.10 $206.48 6.6%$248.18 72,824 $ 16,028,471 70,437 $ 14,543,766 25 Aug 24 $140.60 $134.28 4.7%$199.75 73,366 $ 10,315,491 71,151 $ 9,553,919 25 Sep 24 $92.36 $81.97 12.7%$157.28 70,775 $ 6,536,629 69,772 $ 5,718,967 25 Oct 24 $28.54 $24.54 16.3%$78.18 69,739 $ 1,990,197 69,580 $ 1,707,252 24 Nov 24 $19.47 $21.41 -9.1%$88.33 64,250 $ 1,250,759 67,432 $ 1,443,790 23 Dec 24 $129.96 $121.58 6.9%$467.09 72,804 $ 9,461,853 71,667 $ 8,712,925 25 Grand Total $ 227 $ 225 1.0%$ 280 847,619 $ 192,687,410 833,365 $ 187,610,099 25 Historical Months Total $ 347 $ 353 -1.7%$ 353 423,861 $ 147,104,008 413,326 $ 145,929,479 25 On the Books Total $ 108 $ 99 8.4%$ 209 423,758 $ 45,583,402 420,039 $ 41,680,619 25 Vail Data Tables (Summer-to-date) Res Activity Outlook as of Jun 30, 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 2024 VS. YTD 2023 Month of Occupancy RevPAR as of Jun 30, 2024 RevPAR as of Jun 30, 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 $151.76 $151.85 -0.1%72,016 $ 10,928,872 69,671 $ 10,579,826 25 Jul 24 $220.10 $206.48 6.6%$248.18 72,824 $ 16,028,471 70,437 $ 14,543,766 25 Aug 24 $140.60 $134.28 4.7%$199.75 73,366 $ 10,315,491 71,151 $ 9,553,919 25 Sep 24 $92.36 $81.97 12.7%$157.28 70,775 $ 6,536,629 69,772 $ 5,718,967 25 Oct 24 $28.54 $24.54 16.3%$78.18 69,739 $ 1,990,197 69,580 $ 1,707,252 24 Summer Total $ 115 $ 108 6.0%$ 148 427,850 $ 49,046,361 416,410 $ 45,014,496 25 Summer Bookings: Average Daily Rate: YTD 2024 VS. YTD 2023 Month of Occupancy ADR as of Jun 30, 2024 ADR as of Jun 30, 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 $316.88 $330.47 -4.1%34,489 $ 10,928,872 32,014 $ 10,579,826 25 Jul 24 $417.45 $405.57 2.9%$405.44 38,396 $ 16,028,471 35,860 $ 14,543,766 25 Aug 24 $406.11 $370.21 9.7%$369.62 25,401 $ 10,315,491 25,807 $ 9,553,919 25 Sep 24 $320.67 $314.94 1.8%$315.09 20,384 $ 6,536,629 18,159 $ 5,718,967 25 Oct 24 $244.62 $263.06 -7.0%$256.55 8,136 $ 1,990,197 6,490 $ 1,707,252 24 Summer Total $ 347 $ 348 -0.3%$ 341 141,377 $ 49,046,361 129,336 $ 45,014,496 25 Summer Bookings: Occ Rate: YTD 2024 VS. YTD 2023 Month of Occupancy Occ Rate as of Jun 30, 2024 Occ Rate as of Jun 30, 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 47.9%46.0%4.2%72,016 34,489 69,671 32,014 25 Jul 24 52.7%50.9%3.6%61.2%72,824 38,396 70,437 35,860 25 Aug 24 34.6%36.3%-4.5%54.0%73,366 25,401 71,151 25,807 25 Sep 24 28.8%26.0%10.7%49.9%70,775 20,384 69,772 18,159 25 Oct 24 11.7%9.3%25.1%30.5%69,739 8,136 69,580 6,490 24 Summer Total 33.0%31.1%6.4%43.3%427,850 141,377 416,410 129,336 25 Vail Data Tables (Winter-to-date) Res Activity Outlook as of Jun 30, 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 2024 VS. YTD 2023 Month of Occupancy RevPAR as of Jun 30, 2024 RevPAR as of Jun 30, 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 $19.47 $21.41 -9.1%$88.33 64,250 $ 1,250,759 67,432 $ 1,443,790 23 Dec 24 $129.96 $121.58 6.9%$467.09 72,804 $ 9,461,853 71,667 $ 8,712,925 25 Jan 25 Feb 25 Mar 25 Apr 25 Winter Total $ 78 $ 73 7.0%$ 287 137,054 $ 10,712,612 139,099 $ 10,156,715 25 Winter Bookings: Average Daily Rate: YTD 2024 VS. YTD 2023 Month of Occupancy ADR as of Jun 30, 2024 ADR as of Jun 30, 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 $269.50 $397.85 -32.3%$302.49 4,641 $ 1,250,759 3,629 $ 1,443,790 23 Dec 24 $903.80 $787.43 14.8%$773.76 10,469 $ 9,461,853 11,065 $ 8,712,925 25 Jan 25 Feb 25 Mar 25 Apr 25 Winter Total $ 709 $ 691 2.6%$ 630 15,110 $ 10,712,612 14,694 $ 10,156,715 25 Winter Bookings: Occ Rate: YTD 2024 VS. YTD 2023 Month of Occupancy Occ Rate as of Jun 30, 2024 Occ Rate as of Jun 30, 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 7.2%5.4%34.2%29.2%64,250 4,641 67,432 3,629 23 Dec 24 14.4%15.4%-6.9%60.4%72,804 10,469 71,667 11,065 25 Jan 25 Feb 25 Mar 25 Apr 25 Winter Total 11.0%10.6%4.4%45.5%137,054 15,110 139,099 14,694 25