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HomeMy WebLinkAbout09. Vail_Executive_Summary_+_Industry_Wide_2017-06-30Destination: Vail Period: Bookings as of June 30, 2017 Data based on a sample of up to 25 properties in the Vail destination, representing up to 2,166 Units ('DestiMetrics Census'*) and 54.8% of 3,954 total units in the Vail destination ('Destination Census'**) a. Last Month Performance: Current YTD vs. Previous YTD 2016/17 2015/16 Vail Year over Year % Diff DestiMetrics Industry Wide Year over Year % Diff 53.4%53.7%-0.4%-0.4% $226 $206 9.8%7.2% b. Next Month Performance: Current YTD vs. Previous YTD 62.2%57.0%9.2%-2.0% $284 $263 8.3%9.5% c. Future Months' On The Books Performance, August to December: Current YTD vs. Previous YTD 38.1%39.2%-2.7%1.9% $284 $267 6.5%18.4% 24.3%25.6%-5.1%1.7% $213 $198 7.6%8.1% 11.6%9.9%17.2%13.7% $169 $160 5.6%4.8% 4.3%4.8%-10.9%6.8% $198 $213 -7.1%5.3% 14.9%12.9%15.1%-0.7% $582 $759 -23.4%-7.1% d. Incremental Pacing - % Change in Rooms Booked last Calendar Month: Jun. 30, 2017 vs. Previous Year 5.6%5.7%-1.2%-2.1% For more information: Vail Contact Information: Kelli McDonald, Economic Development Manager; (970) 479-2454 kmcdonald@vailgov.com www.vailgov.com Vail Calendar of Events Click Here for Current Events Calendar Inntopia - DestiMetrics Contact Information: 678 S. Franklin St., Denver, CO 80209 303-722-7346 info@DestiMetrics.com www.DestiMetrics.com Produced by DestiMetrics Copyright © 2017 - Sterling Valley Systems. All Rights Reserved and protected by law Rooms Booked during last month (June, 2017) compared to Rooms Booked during the same period last year (June, 2016) for all arrival dates is down by (-1.2%)Booking Pace (June): On the Books Occupancy Rates for November are down (-10.9%) compared to the same period last year, while Average Daily Rate for the same period is also down (-7.1%). Occupancy November ADR November On the Books Occupancy Rates for December are up (15.1%) compared to the same period last year, while Average Daily Rate for the same period is down (-23.4%). Occupancy December ADR December On the Books Occupancy Rates for September are down (-5.1%) compared to the same period last year, while Average Daily Rate for the same period is up (7.6%). Occupancy September ADR September On the Books Occupancy Rates for October are up (17.2%) compared to the same period last year, while Average Daily Rate for the same period is also up (5.6%). Occupancy October ADR October Occupancy Rates for next month (July, 2017) are up (9.2%) compared to the same period last year, while Average Daily Rate is also up (8.3%). Occupancy (July) : ADR (July) : On the Books Occupancy Rates for August are down (-2.7%) compared to the same period last year, while Average Daily Rate for the same period is up (6.5%). Occupancy August ADR August DESTINATION LEVEL RESERVATIONS ACTIVITY SUMMARY Presented as a community service by the Vail DestiMetrics participants and subscribers Executive Summary: Vail Occupancy Rates during last month (June, 2017) were down (-0.4%) compared to the same period last year (June, 2016) , while Average Daily Rate was up (9.8%). Occupancy (June) : ADR (June) : MARKET OVERVIEW: PRELIMINARY RESULTS: Based on aggregate data from all West DestiMetrics destinations, occupancy for June was down -0.4 percent versus the same time last year, while rate was up 7.2 percent for the month. Bookings taken in June for arrival in June were down -6.9 percent (not shown). Locally, Vail Occupancy was slightly down -0.4 percent in June versus 2016, while there was an increase in rate of 9.8 percent. Vail's aggregate historic six month (January -June) occupancy (not shown) was slightly up 0.2 percent compared to the same period last year accompanied with an increase in rate of 8.3 percent. Bookings taken in June for arrival in June were up 27.5 percent (not shown). LOOKING FORWARD:PRELIMINARY RESULTS: Based on the aggregate of West DestiMetrics industry-wide data, on-the-books occupancy for the upcoming six months (July -December) is slightly up 0.8 percent, while rate is up 7.9 percent from the same period last year. Meanwhile, bookings made during June for arrival June –November were down -2.1 percent compared to the same period last year. Locally, Vail on-the-books for July is up 9.2 percent accompanied with an increase in rate of 8.3 percent compared to this time last year. For the most part, economics 101 seems to be in play for the other five months on-the-books, with occupancy gaining in two of the five months while rates are up in three of the five months. Year over year occupancy gains are led by October (17.2 percent) and then December (15.1 percent). Occupancy for six months on-the-books (July -December) in aggregate has slightly decreased -0.2 percent while rate has slightly increased 1.2 percent. Bookings taken in June for arrival June -November were down -2.6 percent.