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HomeMy WebLinkAboutVail_Executive_Summary_+_Industry_Wide_2013-04-30Destination: Vail Period: Bookings as of Apr 30, 2013 . Data based on a sample of up to 24 properties in the Vail destination, representing up to 2,311 Units ('MTRiP Census'*) and 58.4% 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 34.2%30.3%13.1%-5.2% $204$257 -20.6%-11.4% b. Next Month Performance: Current YTD vs. Previous YTD 16.0%9.7%64.9%9.9% $125$126 -1.4%2.1% c. Future Months' On The Books Performance, June to October: Current YTD vs. Previous YTD 29.0%25.8%12.6%5.7% $161$158 2.1%6.9% 27.7%31.6%-12.1%8.4% $205$193 5.8%3.3% 18.1%22.6%-19.6%0.0% $203$194 4.8%7.5% 13.6%14.9%-8.4%19.3% $151$141 6.9%7.5% 36.8%36.8%19.8%22.7% $354$342 2.9%10.7% d. Incremental Pacing - % Change in Rooms Booked last Calendar Month: Apr. 30, 2013 vs. Previous Year 5.7%3.6%59.1%5.9% 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 Produced by MTRiP Copyright © 2013 - MTRiP, LLC. All Rights Reserved and protected by law Rooms Booked during last month (April, 2013) compareed to Rooms Booked during the same period last year (April, 2012) for all arrival dates is up by (59.1%)Booking Pace (April) : On the Books Occupancy Rates for September are down (-8.4%) compared to the same period last year, while Average Daily Rate for the same period is up (6.9%). Occupancy September ADR September On the Books Occupancy Rates for October are up (19.8%) compared to the same period last year, while Average Daily Rate for the same period is also up (2.9%). Occupancy October ADR October On the Books Occupancy Rates for July are down (-12.1%) compared to the same period last year, while Average Daily Rate for the same period is up (5.8%). Occupancy July ADR July On the Books Occupancy Rates for August are down (-19.6%) compared to the same period last year, while Average Daily Rate for the same period is up (4.8%). Occupancy August ADR August Occupancy Rates for next month (May, 2013) are up (64.9%) compared to the same period last year, while Average Daily Rate is down (-1.4%). Occupancy (May) : ADR (May) : On the Books Occupancy Rates for June are up (12.6%) compared to the same period last year, while Average Daily Rate for the same period is also up (2.1%). Occupancy June ADR June 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 (April, 2013) were up (13.1%) compared to the same period last year (April, 2012) , while Average Daily Rate was down (-20.6%). Occupancy (April) : ADR (April) : MARKET OVERVIEW:The Winter Season was a roller coaster, but with the last hill now behind us we can look back on a season of positives, though at the same time, ‘what might have been’ comes to mind. Economically, the stars aligned as consumers, investors and employers all weathered the storms of a federal election, fiscal cliff and sequestration with gusto. But a dry early December had a lasting negative impact on the aggregate, and the shift of the Easter holiday from April to March kept destinations from fully capitalizing on late season snow and good conditions at the end. Had these negative bookends not been in play, an otherwise average season might have been quite strong indeed. Based on aggregate data from all MTRiP destinations, occupancy for April is down a -5.2 percent versus the same time last year, while rate is also down -11.4 percent for the month. Bookings taken in April for arrival in April were up a sharp 16.0 percent (not shown). Locally, Vail Occupancy was up a considerable 13.1 percent in April versus 2012, with a decrease in rate of -20.6 percent. Vail's aggregate historic six month (November -April) occupancy (not shown) was up a slight compared to 2012 increasing by 0.7 percent while rate also increased by 4.2 percent. Bookings taken in April for arrival in April were up a dramatic 190.9 percent (not shown). LOOKING FORWARD:Economic and consumer momentum heading into the summer bodes well for mountain destinations, as we hope for continued strong jobcreation and the ensuing consumer confidence that should be expected, should the jobs materialize. Certainly the financial marketplace continues to set records, but the potential for over-valuation of the Dow and S&P 500 remain a concern for some economists. While not part of the national discussion, at least for the moment, we’re compelled to caution destinations against complacency as we head down a road we’ve traveled before, with debt ceilings and the eventual effects of sequestration as-yet unknown quantities. However, summer has been a reliable season of-late and at this early stage we look forward in anticipation. Based on the preliminary aggregate of MTRiP industry-wide data, on-the-books aggregate occupancy for all destinations for the upcoming six months (May -October) is up 8.1 percent, while rate is also up somewhat 5.2 percent from the same period last year. Meanwhile, bookings made during April for arrival April –September are up 5.9 percent compared to the same period in 2012. Locally, Vail on-the-books Occupancy for May is up a sharp 64.9 percent with a decrease in rate of -1.4 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 up in all five months. Occupancy gains are led by June (12.6 percent) and October (19.8 percent). Occupancy for six months on-the-books (May -October) in aggregate has increased a slight 0.4 percent while rate has also increased by 1.1 percent. Bookings taken in April for arrival April through September are up a dramatic 59.1 percent, with gains in all of the six months in scope.