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HomeMy WebLinkAboutVail_Executive_Summary_+_Industry_Wide_2013-01-31Destination: Vail Period: Bookings as of Jan 31, 2013 . Data based on a sample of up to 26 properties in the Vail destination, representing up to 2,441 Units ('MTRiP Census'*) and 61.7% 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 65.8%65.3%0.7%9.4% $449$411 9.3%6.5% b. Next Month Performance: Current YTD vs. Previous YTD 71.9%67.0%7.4%14.5% $465$428 8.6%3.2% c. Future Months' On The Books Performance, March to July: Current YTD vs. Previous YTD 55.1%54.0%2.0%4.1% $467$429 9.0%5.5% 15.8%17.4%-9.4%-10.9% $214$297 -27.9%-17.9% 7.1%2.9%145.3%11.2% $118$133 -10.9%2.0% 14.5%12.9%12.2%5.7% $154$161 -4.3%12.2% 36.9%36.5%-19.9%18.0% $332$320 15.6%3.7% d. Incremental Pacing - % Change in Rooms Booked last Calendar Month: Jan. 31, 2013 vs. Previous Year 7.1%6.7%5.0%32.9% 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 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 (January, 2013) were up (0.7%) compared to the same period last year (January, 2012) , while Average Daily Rate was also up (9.3%). Occupancy (January) : ADR (January) : Occupancy Rates for next month (February, 2013) are up (7.4%) compared to the same period last year, while Average Daily Rate is also up (8.6%). Occupancy (February) : ADR (February) : On the Books Occupancy Rates for March are up (2.0%) compared to the same period last year, while Average Daily Rate for the same period is also up (9.0%). Occupancy March ADR March On the Books Occupancy Rates for April are down (-9.4%) compared to the same period last year, while Average Daily Rate for the same period is also down (-27.9%). Occupancy April ADR April On the Books Occupancy Rates for May are up (145.3%) compared to the same period last year, while Average Daily Rate for the same period is down (-10.9%). Occupancy May ADR May On the Books Occupancy Rates for June are up (12.2%) compared to the same period last year, while Average Daily Rate for the same period is down (-4.3%). Occupancy June ADR June On the Books Occupancy Rates for July are down (-19.9%) compared to the same period last year, while Average Daily Rate for the same period is up (15.6%). Occupancy July ADR July Produced by MTRiP Copyright © 2009 - MTRiP, LLC. All Rights Reserved and protected by law Rooms Booked during last month (January, 2013) compareed to Rooms Booked during the same period last year (January, 2012) for all arrival dates is up by (5.0%) Booking Pace (January) : MARKET OVERVIEW:January was a month of dichotomies, as financial markets celebrated the temporary resolution to the debt and tax crises, while consumers pulled back, surprised by the payroll tax increase. Markets advanced strongly during the month, posting 5 year highs and consistently gaining, with strength across each of the three big exchanges, while consumers, who found smaller paychecks beginning January 1st, retreated dramatically to a level of confidence not seen since November, 2011. However, early December aside, and thanks in large part to better snowfall, winter season to-date certainly has a better feel than last year. Based on preliminary aggregate data from all MTRiP destinations, occupancy for January is up a considerable 9.5 percent versus the same time last year, while rate is also up 6.5 percent for the month. Bookings taken in January for arrival in January were up a dramatic56.6 percent. Locally, Vail Occupancy was up a slight 0.7 percent in January versus 2012, with a considerable increase in rate of 9.3 percent. Vail's aggregate historic six month (August -January) occupancy (not shown) was up a slight compared to 2012 increasing by 0.5 percent while rate also increased by 2.8 percent. Bookings taken in January for arrival in January were up a dramatic 47.8 percent (not shown). LOOKING FORWARD:All business sectors need to be watching the economic environment in the coming weeks as yet another set of deadlines looms large in the windshield, with the first –budget sequestration –coming in the first week of March. Though financial markets have rebounded in January they remain fickle, whileconsumers are heading into this round with no real momentum and any negative impact on their fragile state may send confidence down sharply. In spite of this, the mountain travel industry madegood strides on finding some late season footing over the past 30 days. Based on the preliminary aggregate of MTRiP industry-wide data, on-the-books aggregate occupancy for all destinations for the upcoming six months (February -July) is up 8.0 percent, while rate is also up somewhat 3.3 percent from the same period last year.Meanwhile, bookings made during January for arrival January –June are up a dramatic 33.3 percent compared to the same period in2012. Locally, Vail on-the-books Occupancy for February is up a considerable 7.4 percent with a considerable increase in rate of 8.6 percent compared to February 2012. 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 three of five. Occupancy gains are led by May (145.3 percent), June (12.2 percent) and March (2.0 percent). Occupancy for six months on-the-books (February -July) in aggregate has increased2.0 percent with a somewhat rate increase of 5.1 percent. Bookings taken in January for arrival January through June are up 5.0 percent, with gains in two of the six months in scope.