Loading...
HomeMy WebLinkAboutVail_Executive_Summary_+_Industry_Wide_2012-03-31Destination: Vail Period: Bookings as of Mar 31, 2012 . Data based on a sample of up to 24 properties in th e Vail destination, representing up to 2,421 Units ('MTRiP Census'*) and 65% of 3,706 total units in t he Vail destination ('Destination Census'**) a. Last Month Performance: Current YTD vs. Previous YTD 2011/122010/11 Vail Year over Year % Diff MTRiP Industry Wide Year over Year % Diff 74.6%73.4%1.6%-3.9% $428$422 1.4%1.7% b. Next Month Performance: Current YTD vs. Previous YTD 28.7%30.7%-6.4%-6.7% $270$213 26.6%19.9% c. Future Months' On The Books Performance, May to September: Current YTD vs. Previous YTD 6.3%6.6%-5.7%8.6% $126$137 -8.0%5.8% 20.9%20.4%2.5%14.7% $162$155 4.1%4.4% 26.6%23.3%14.1%14.3% $191$185 3.4%3.8% 19.3%14.2%36.3%14.8% $196$194 1.5%8.4% 14.0%8.4%68.0%23.7% $140$158 -11.4%-6.3% d. Incremental Pacing - % Change in Rooms Booked la st Calendar Month: Mar. 31, 2012 vs. Previous Year 5.9%4.7%24.1%1.8% 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 MTRiP, LLC Contact Information: 678 S. Franklin St , Denver, CO 80209 303-722-7346 info@mtrip.org www.mtrip.org Occupancy Rates during last month (March, 2012) wer e up (1.6%) compared to the same period last year (March, 2011) , while Average Daily Rate was also up (1.4%). Occupancy (March) : ADR (March) : DESTINATION LEVEL RESERVATIONS ACTIVITY SUMMARY Presented as a community service by the Vail MTRiP participants and subscribers Executive Summary: Vail Occupancy Rates for next month (April, 2012) are do wn (-6.4%) compared to the same period last year, while Average Daily Rate is up (26.6%). Occupancy (April) : ADR (April) : On the Books Occupancy Rates for May are down (-5.7 %) compared to the same period last year, while Average Daily Rate for the same period is also down (-8.0%). Occupancy May ADR May On the Books Occupancy Rates for June are up (2.5%) compared to the same period last year, while Average Daily Rate for the same period is als o up (4.1%). Occupancy June ADR June On the Books Occupancy Rates for July are up (14.1%) compared to the same period last year, while Average Daily Rate for the same period is als o up (3.4%). Occupancy July ADR July On the Books Occupancy Rates for August are up (36.3%) compared to the same period last year, while Average Daily Rate for the same period is also up (1.5%). Occupancy August ADR August On the Books Occupancy Rates for September are up (68.0%) compared to the same period last year, while Average Daily Rate for the same period is down (-11.4%). Occupancy September ADR September Produced by MTRiP Copyright © 2009 - MTRiP, LLC. All Rights Reserved and protected by law Rooms Booked during last month (March, 2012) compar eed to Rooms Booked during the same period last year (March, 2011) for all arrival date s is up by (24.1%)Booking Pace (March) : SPECIAL EVENTS AND ACTIVITIES OF NOTE : CLICK HERE FOR A FULL CALENDAR OF UPCOMING EVENTS I N VAI L MARKET OVERVIEW:With no shortage of economic-and weather-based infl uences over the past 30 days, March has been a tumu ltuous month across the Mtn Destination Travel Indu stry. For the first time in several years we saw economic strength work to support the industry in the face of poor (or no) snow, areversal of the patterns we've seen since the 2007/08 season. Consistent increases in financial markets and, unti l the most recent report, job creation, have bolste red consumer confidenceand opened the wallets of ou r clientele despite less-than-optimal snow conditions across most of the country. The re sult has been an expected year over year decline in occupancy at most destinations accompanied by an u nexpected increase in rate at a majority of them, the pure destinations generally f aring better than drive markets. Based on aggregat e data from all MTRiP destinations Occupancy for M arch is down -3.9 percent versus the same time last year, while rate is up 1.7 percent f or the month. Bookings taken in March for arrival in March are down a moderate -5.2 percent, a contin uation of weak short-lead bookings first evidenced in February.Locally, Vail Occupancy was u p slightly 1.6 percent in March versus 2011, with a near-equal increase in rate of 1.4 percent. Vail's prior 6 months (October -March) aggregate historic actual occupancy (not shown) was up compared to 2010/11, increasing a moderate 2.5 percent while rate increased a strong 5.3 percent. Bookings taken in March for arrival in March were down a strong -8.8 percent (not shown ). LOOKING FORWARD:With the 2011/12 season prematurely 'in the books' for the most part, we look ahead to the shoulder an d summer seasons aware that the economy has potenti al to stumble over the coming weeks and months, evidenced by unex pectedly low employment numbers in March and the dr amatic reaction of financial markets to the news. As go financial markets, so goes consumer confidence, the measure by which we can re ly on our clientele to 'come out and play. Summer 2012 promises to be strategic as destinations look to make further gains on a strong summer last year and perhaps make up some of the gr ound lost to warm weather and dry conditions since mid-February. Based on anaggregate of MTRiP indust ry-wide data, on-the-books occupancy at all destinations for the upcoming six months (April -September ) is up 10.3 percent, whil e rate shows its best strength in many months, up 7 .2 percent from the same period last year. Meanwhile, bookings made during March for arrival M arch -August are up a slight 1.8 percent compared t o the same period in 2011. Locally, Vail on-the-boo ks Occupancy for April is down somewhat -6.4 percent with a dramatic increase in r ate of 26.6 percent compared to April 2011. Overal l, both occupancy and rate are mixed in the upcomin g months of May -September, with shoulder season May occupancy down moderately -5.7 percent while May rate is down a considerable -8.0 percent. However, the balance of the forward-looki ng months are strong, with Rate increases in each of June through September, with c orresponding increases in rate in each of those mon ths, excepting a rate decline in of September of -1 1.4 percent. Bookings taken in March for arrival March -August are up slightly 1.8 percent compared to the same period last year, with booking s for arrival in March and April declining, while a ll other months increased over the same period