HomeMy WebLinkAbout09. VEAC March MinutesVail Economic Advisory Council
March 13, 2018 - 8:00 AM – 10:00 AM
MEETING MINUTES
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Packet Materials Link: http://bit.ly/2EF5QQG
VEAC Members Present:
Rayla Kundolf, Sarah Franke, Greg Moffet, Alison Wadey, Mark Gordon, Matt Ivy, Laurie
Mullen, Phil Metz, Brian Nolan, Kim Newbury-Rediker, Mike Glass, Chris Romer, Matt
Morgan, Bob Boselli
Town of Vail Staff Present:
Mia Vlaar, Economic Development Director, Laura Waniuk - Event Liaison Specialist,
Kathleen Halloran – Finance Director, Greg Clifton – Town Manager, Ernest Saeger, Special
Events Coordinator
Others Present:
Kristin Kenney-Williams - Vail Resorts, Mike Lange - Wyndham
Destimetrics/Inntopia “Deep Dive”, Katie Barnes (20 minutes)
Please see attached presentation for full details.
• Review of winter occupancy and forward look to summer reservation numbers.
• There are many things impacting current lodging economic situation for Vail,
including snowfall as well as the announcement of the Ikon Pass.
• Winter occupancy reported as down 12%; Rate (ADR) flat; Revpar down 12%.
Compared to industry down 3% in Occupancy and up 3% in Rate.
• Updates on Hotel Talisa and Double Tree hotels when they came online and how
they impact occupancy reports. Talisa is included in the Destimetrics reports at this
time. Preliminary look indicates that without Talisa’s room inventory, occupancy
would have been flat (same number of room nights were booked YOY for the
winter), but because the available rooms increased, the same amount of bookings
appear to be a decrease of 12% from the prior year.
• Metz suggested looking at total room nights as well as occupancy, which may be a
better way to analyze the data for adding the Talisa.
• Summer 2018 is trending positively. ADR is currently up 1%. RevPAR for summer
is currently outpacing the industry at 8%.
Town of Vail Financials, Kathleen Halloran (15 minutes)
Revenue Highlights
• Upon receipt of all sales tax returns, January collections are estimated to down 6.8%
from last year and down 6.5% compared to budget.
• RETT collections through February 28 total $514,918 down 29.6% from this time last
year. The annual 2018 RETT budget totals $6.1 million.
VEAC Minutes March 13, 2018
• Construction Use Tax collections through February 28 total $155,970 compared to
$85,955 from this time last year. The annual budget totals $1,975,900.
• Parking pass sales from November through February 28 total $1,186,365 up 24.1%
from prior winter season. The significant increase in pass sales was largely due to the
purchase of blue passes by Vail Health due to loss of parking during construction.
• Daily sales from the parking structures from November through February 28 total
approximately $2,338,504, down 13.5% from the prior winter season.
• Discussion about a voluntary weekly gross revenue reporting from businesses and
how it would be received. VEAC was supportive of collecting the data; Brian Nolan
expressed interest in asking a number of businesses to provide weekly gross sales for
a historical period such as 2 - 3 years back in order to have valid data for analysis
sooner.
STR program updates
• There are about 360 short term rentals registered in the town system.
• The new software is reporting that there are almost 3000 rentals currently in Vail.
• Follow up with the outstanding properties will begin shortly.
• Gordon stated that there is a little confusion in the community regarding the guidelines
and steps to manage short term rentals. Ivy stated that the town’s website is very
helpful for information.
• Ivy asked what the plan is for enforcement, Halloran stated that it would go to court
and come before the judge if licenses not in place for rentals.
• Clifton added that another enforcement process surrounding complaints, which is an
administrative process rather than in the court and can result in license revocation.
Discuss 2018 Meeting Topics – VEAC members (15 minutes)
• Follows an annual pattern about what we are reporting back on.
• Parking
• Please send an email to Mia with ideas
Town Manager’s Report, Greg Clifton (15 minutes)
• There are some things to be optimistic about, including the numbers in the summer
months. Summers are lifting us up during challenging snow years.
• Focus on a year round economy.
• I70 Coalition meeting focused on state wide transportation funding. There will be a
citizen initiated ballot; Colorado is losing ground in terms of transport. Effort to look
at 4 different proposals, one will be picked for a statewide ballot measure. All of
them are based on increasing sales tax revenue.
• Parking for the summer will be a challenge as there will be reduced spaces due to
Vail Health construction and elimination of their parking garage, construction at
Red Sandstone Elementary, etc.
VEAC Minutes March 13, 2018
• Moffet said that there may be an adverse customer service experience and that will
need to be monitored. The overnight parking fee should free up some spaces.
• Nolan suggested reaching out to the school district to see if there could be some
kind of partnership with them.
• Clifton asked for the board to attend the community meeting tonight 3/13 at 5pm at
Donovan Pavilion. It will be a good event to get an overview of what’s going on in
the town.
Citizen Input (5 minutes)
NA
Other Business (5 minutes)
• Mia provided instructions about the Vail.com Yelp Listings and how to get a
business listed or updated. Please see instructions sheet in meeting packet.
• Gordon discussed the Olympic meeting and how there are supporters and
detractors for the event. Nolan added that the Olympic events held in our valley
would be the equivalent to hosting a World Championship event. Gordon
mentioned there may be opportunities to build funded infrastructure such as
housing and transportation.
Adjournment
Next Meeting:
Tuesday, April 10, Vail Town Council Chambers – 8:00am
VEAC Minutes March 13, 2018