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HomeMy WebLinkAboutVail_Executive_Summary_+_Industry_Wide_2013-03-31Destination: Vail Period: Bookings as of Mar 31, 2013 . Data based on a sample of up to 24 properties in the Vail destination, representing up to 2,450 Units ('MTRiP Census'*) and 62.0% 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 75.0%73.3%2.3%9.5% $462$427 8.1%3.2% b. Next Month Performance: Current YTD vs. Previous YTD 27.4%27.9%-2.0%-9.8% $221$271 -18.6%-12.2% c. Future Months' On The Books Performance, May to September: Current YTD vs. Previous YTD 10.5%6.4%62.9%22.1% $124$126 -1.8%3.0% 22.0%21.1%4.3%8.8% $161$161 -0.2%10.0% 21.1%26.0%-18.7%10.8% $210$193 8.9%2.5% 14.2%18.9%-24.6%5.0% $209$198 5.7%6.4% 35.7%36.5%-11.4%18.2% $360$344 7.6%8.9% d. Incremental Pacing - % Change in Rooms Booked last Calendar Month: Mar. 31, 2013 vs. Previous Year 4.7%5.8%-19.2%2.9% 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 (March, 2013) were up (2.3%) compared to the same period last year (March, 2012) , while Average Daily Rate was also up (8.1%). Occupancy (March) : ADR (March) : Occupancy Rates for next month (April, 2013) are down (-2.0%) compared to the same period last year, while Average Daily Rate is also down (-18.6%). Occupancy (April) : ADR (April) : On the Books Occupancy Rates for May are up (62.9%) compared to the same period last year, while Average Daily Rate for the same period is down (-1.8%). Occupancy May ADR May On the Books Occupancy Rates for June are up (4.3%) compared to the same period last year, while Average Daily Rate for the same period is down (-0.2%). Occupancy June ADR June On the Books Occupancy Rates for July are down (-18.7%) compared to the same period last year, while Average Daily Rate for the same period is up (8.9%). Occupancy July ADR July On the Books Occupancy Rates for August are down (-24.6%) compared to the same period last year, while Average Daily Rate for the same period is up (5.7%). Occupancy August ADR August On the Books Occupancy Rates for September are down (-11.4%) compared to the same period last year, while Average Daily Rate for the same period is up (7.6%). Occupancy September ADR September Produced by MTRiP Copyright © 2013 - MTRiP, LLC. All Rights Reserved and protected by law Rooms Booked during last month (March, 2013) compareed to Rooms Booked during the same period last year (March, 2012) for all arrival dates is down by (-19.2%)Booking Pace (March) : MARKET OVERVIEW:The greater financial marketplace was mixed during March as financials set all-time records, while at the same time employers and consumers took a step back. The Dow Jones once again exceeded previous point-value highs as investors went ‘all-in’ during the month, continuing the momentum that began back in January. Employers, in the meantime, rolled back new job creation dramatically from February and Consumers’ concerns about earnings and job stability were reflected in a declined consumer confidence index. However, snowfall and continued good conditions across much of the ski industry, as well as an early Easter Holiday helped offset any economic impact. Based on preliminary aggregate data from all MTRiP destinations, occupancy for March is up a considerable 9.5 percent versus the same time last year, while rate is also up 3.2 percent for the month. Bookings taken in March for arrival in March were up a 7.7 percent (not shown). Locally, Vail Occupancy was up a somewhat 2.3 percent in March versus 2012, with a considerable increase in rate of 8.1 percent. Vail's aggregate historic six month (October -March) occupancy (not shown) was up a slight compared to 2012 increasing by 0.1 percent while rate also increased by 5.7 percent. Bookings taken in Marchfor arrival in March were down -6.6 percent (not shown). LOOKING FORWARD:The season will be wrapping up over the coming few weeks as many resorts close lift operations and transition to mud season, in anticipation of summer. They will be doing so amid some degree of uncertainly and disparate messages. On the one hand we see financial markets skyrocketing while on the other, neither employers nor consumers seem to be onboard. While ‘sequestration’ has left the news cycle, it’s most certainly going to reappear in the form of challenging employment numbers in months to come, all creating an environment that feels uneasy. However, market caveats aside, as with winter, the early look at summer is bright for mountain destinations. Based on the preliminaryaggregate of MTRiP industry-wide data, on-the-books aggregate occupancy for all destinations for the upcoming six months (April -September) is up 6.8 percent, while rate is also up somewhat 1.8 percent from the same period last year. Meanwhile, bookings made during March for arrival March –August are up 2.8 percent compared to the same period in 2012. Locally, Vail on-the-books Occupancy for April is down -2.0 percent with a decrease -18.6 percent compared to 2012. 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 down in two of five. Occupancy gains are led by May (62.9 percent) and June (4.3 percent). Occupancy for six months on-the-books (April -September) in aggregate has decreased -6.5 percent while rate has also decreased by -4.6 percent. Bookings taken in March for arrival March through August are down a sharp -19.2 percent, with gains in two of the six months inscope.