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Vail_Executive_Summary_+_Industry_Wide_2012-11-30
Destination: Vail Period: Bookings as of Nov 30, 2012 . Data based on a sample of up to 25 properties in the Vail destination, representing up to 2,323 Units ('MTRiP Census'*) and 58.8% of 3,954 total units in the Vail destination ('Destination Census'**) a. Last Month Performance: Current YTD vs. Previous YTD 2012/132011/12 Vail Year over Year % Diff MTRiP Industry Wide Year over Year 28.6%26.7%6.9%7.5% $151$146 3.9%4.2% b. Next Month Performance: Current YTD vs. Previous YTD 44.7%54.9%-18.6%-12.3% $464$459 1.1%2.6% c. Future Months' On The Books Performance, January to May: Current YTD vs. Previous YTD 51.4%55.4%-7.1%0.9% $434$408 6.3%6.6% 48.2%45.0%7.3%9.3% $443$417 6.2%2.3% 33.0%36.6%-9.6%-5.6% $433$391 10.8%5.7% 11.7%10.9%7.6%-6.3% $197$272 -27.5%-17.9% 5.4%1.7%216.9%-1.5% $121$140 -13.7%-1.4% d. Incremental Pacing - % Change in Rooms Booked last Calendar Month: Nov. 30, 2012 vs. Previous Year 6.2%8.2%-24.1%-2.5% 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 Produced by MTRiP Copyright © 2009 - MTRiP, LLC. All Rights Reserved and protected by law Rooms Booked during last month (November, 2012) compareed to Rooms Booked during the same period last year (November, 2011) for all arrival dates is down by (-24.1%) Booking Pace (November) : On the Books Occupancy Rates for April are up (7.6%) compared to the same period last year, while Average Daily Rate for the same period is down (-27.5%). Occupancy April ADR April On the Books Occupancy Rates for May are up (216.9%) compared to the same period last year, while Average Daily Rate for the same period is down (-13.7%). Occupancy May ADR May On the Books Occupancy Rates for February are up (7.3%) compared to the same period last year, while Average Daily Rate for the same period is also up (6.2%). Occupancy February ADR February On the Books Occupancy Rates for March are down (-9.6%) compared to the same period last year, while Average Daily Rate for the same period is up (10.8%). Occupancy March ADR March Occupancy Rates for next month (December, 2012) are down (-18.6%) compared to the same period last year, while Average Daily Rate is up (1.1%). Occupancy (December) : ADR (December) : On the Books Occupancy Rates for January are down (-7.1%) compared to the same period last year, while Average Daily Rate for the same period is up (6.3%). Occupancy January ADR January DESTINATION LEVEL RESERVATIONS ACTIVITY SUMMARY Presented as a community service by the Vail MTRiP participants and subscribers Executive Summary: Vail Occupancy Rates during last month (November, 2012) were up (6.9%) compared to the same period last year (November, 2011) , while Average Daily Rate was also up (3.9%). Occupancy (November) : ADR (November) : MARKET OVERVIEW:With the federal election behind us in the early part of November, financial markets quickly turned their attention to fiscalcliff negotiations, forcing financial markets to decline sharply in the first 2 weeks of the month and setting a potentially sour tone for the start of the holiday shopping season. However, consumers were not to be denied an opportunity to take advantage of the overall economic improvements of late, setting records for seasonal shopping over the Thanksgiving weekend and offsetting the tone set by Wall Street. Improved job numbers lent a hand and the month finished with a sense of economic optimism despite uncertainty on the horizon. This optimism was reflected in MTRiP’s aggregate data. Based on preliminary aggregate data from all MTRiP destinations, Occupancy for November is up 7.5 percent versus the same time last year, while rate is up a somewhat 4.2 percent for the month. Bookings taken in November for arrival in November were down -0.6 percent. Locally, Vail Occupancy was up somewhat 6.9 percent in November versus 2011, with a moderate increase in rate of 3.9 percent. Vail's aggregate historic six month (June -November) occupancy (not shown) was up compared to 2011 increasing by 5.9 percent while rate also increased a somewhat 4.2 percent. Bookings taken in November for arrival in November were down -15.9 percent (not shown). LOOKING FORWARD:Though economic conditions continue to look more positive heading into December, destination travel faces two specific challenges, both of which are outside our influence. As December 31 approaches, the national and global economies are looking to lawmakers in Washington to resolve the fiscal issuesfacing the U.S. domestic economy. While most experts agree that a resolution will be reached, what impact that resolution will have remains to be seen. On a separate front, many destinations continue to face snow challenges heading into December and the holiday season, driving down occupancy rates for the month and presenting the ongoing challenge of overcoming negative perceptions leftover from last year’s low snow. Despite recent accumulations across much of the industry, the damage for December may well be done, at least at the industry-wide level. Based on the preliminary aggregate of MTRiP industry-wide data, on-the-books aggregate occupancy for all destinations for theupcoming six months (December -May) is up 6.9 percent, while rate is also up 4.2 percent from the same period last year. Meanwhile, bookings made during November for arrival November –January are down -2.5 percent compared to the same period in 2011. Locally, Vail on-the-books Occupancy fo rDecember is down -18.6 percent with a slight increase in rate of1.1 percent compared to December 2011. For the most part, economics 101 seems to be in play for the other five months on-the-books, with occupancy gaining in three of the five months while rates are down in two of five. Occupancy gains are led by February (7.3 percent), April (7.6 percent) and May (216.9 percent). Occupancy for six months on-the-books (December -May) in aggregate has decreased 5.5 percent with a moderate rate increase of 2.3 percent. Bookings taken in November for arrival November through April are down -24.1 percent, with gains in only one of the six months in scope.