Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
Vail_Executive_Summary_+_Industry_Wide_2014-06-30
Destination: Vail Period: Bookings as of Jun 30, 2014 Data based on a sample of up to 24 properties in the Vail destination, representing up to 2,459 Units ('DestiMetrics Census'*) and 62.2% of 3,954 total units in the Vail destination ('Destination Census'**) a. Last Month Performance: Current YTD vs. Previous YTD 2013/142012/13 Vail Year over Year % Diff DestiMetrics Industry Wide Year over Year % 49.6%46.3%7.3%9.0% $167$161 3.8%4.6% b. Next Month Performance: Current YTD vs. Previous YTD 51.0%48.4%5.5%4.3% $221$204 8.8%5.5% c. Future Months' On The Books Performance, August to December: Current YTD vs. Previous YTD 36.0%30.2%19.1%7.9% $214$205 4.2%5.2% 18.7%18.1%3.7%0.4% $162$160 1.7%1.2% 6.7%7.3%-9.2%2.4% $137$121 13.2%-1.7% 6.2%4.6%35.0%4.7% $138$141 -2.0%17.8% 38.1%36.7%-16.4%15.6% $348$327 31.1%7.4% d. Incremental Pacing - % Change in Rooms Booked last Calendar Month: Jun. 30, 2014 vs. Previous Year 5.8%5.4%6.6%3.9% For more information: Vail Contact Information: Kelli McDonald, Economic Development Manager; (970) 479-2454kmcdonald@vailgov.com www.vailgov.com Vail Calendar of Events Click Here for Current Events Calendar DestiMetrics, LLC Contact Information: 678 S. Franklin St., Denver, CO 80209 303-722-7346 info@DestiMetrics.com www.DestiMetrics.com DESTINATION LEVEL RESERVATIONS ACTIVITY SUMMARY Presented as a community service by the Vail DestiMetrics participants and subscribers Executive Summary: Vail Occupancy Rates during last month (June, 2014) were up (7.3%) compared to the same period last year (June, 2013) , while Average Daily Rate was also up (3.8%). Occupancy (June) : ADR (June) : Occupancy Rates for next month (July, 2014) are up (5.5%) compared to the same period last year, while Average Daily Rate is also up (8.8%). Occupancy (July) : ADR (July) : On the Books Occupancy Rates for August are up (19.1%) compared to the same period last year, while Average Daily Rate for the same period is also up (4.2%). Occupancy August ADR August On the Books Occupancy Rates for September are up (3.7%) compared to the same period last year, while Average Daily Rate for the same period is also up (1.7%). Occupancy September ADR September On the Books Occupancy Rates for October are down (-9.2%) compared to the same period last year, while Average Daily Rate for the same period is up (13.2%). Occupancy October ADR October On the Books Occupancy Rates for November are up (35.0%) compared to the same period last year, while Average Daily Rate for the same period is down (-2.0%). Occupancy November ADR November On the Books Occupancy Rates for December are down (-16.4%) compared to the same period last year, while Average Daily Rate for the same period is up (31.1%). Occupancy December ADR December Produced by DestiMetrics Copyright © 2014 - DestiMetrics, LLC. All Rights Reserved and protected by law Rooms Booked during last month (June, 2014) compareed to Rooms Booked during the same period last year (June, 2013) for all arrival dates is up by (6.6%)Booking Pace (June) : MARKET OVERVIEW:With May coming and going, the first ‘official’ month of summer is over and the economic and consumer environments feel consistently strong. Financial markets continued their increases last month, though growth slowed to a more sustainable rate. One reason investors are engaged is jobs, as employers added 217,000 positions during May, though the workforce remains stubbornly at a 35 year low. And consumer confidence is consistently on the positive side of 80 points for several months running, indicating that consumers are further engaged in driving the market than in the past. All this translated to a strong beginning to the summer season in May, even as some resorts continued skiing. Based on an aggregate data from all DestiMetrics destinations, occupancy for May is up 8.0 percent versus the same time last year, while rate is up 5.8 percent for the month. Bookings taken in May for arrivalin May was down -1.6 percent (not shown). Locally, Vail Occupancy was up 7.3 percent in June versus 2013, with an increase in rate of 3.8 percent. Vail's aggregate historic six month (January -June) occupancy (not shown) was up compared to 2013 increasing by 1.9 percent while rate also increased by 6.3 percent. Bookings taken in June for arrival in June were up 11.1 percent (not shown). LOOKING FORWARD:With schools out in June and the warm weather truly here, it’s ‘game on’ in mountain communities for the season of greatest opportunity. The economic pieces are certainly in place for another record season, with financial, consumer and employment markets stabilizing. While financial markets are long-overdue for a correction, and one should be expected before the year is out, most analysts view it as a healthy response to overvaluation on Wall St. A remaining piece of the recovery puzzle is a large workforce, which ought to naturally follow the strong rate of job creation we’ve seen in 2014. Heading into the heat of summer, these positive factors are reflected well in mountain destination travel. Based on the aggregate of DestiMetrics industry-wide data, on-the-books aggregate occupancy for all destinations for the upcoming six months (June –November) is up 6.6 percent, while rate is also up 4.5 percent from the same period last year. Meanwhile, bookings made during May for arrival May -October are up 3.9 percent compared to the same period in 2013. Locally, Vail on-the-books Occupancy for July is up 5.5 percent with an increase in rate of 8.8 percent compared to 2013. 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 up in four of the five months. Occupancy gains are led by August (19.1 percent) and November (35.0 percent). Occupancy for six months on-the-books (July -December) in aggregate has increased 7.4 percent while rate has also increased by 8.2 percent. Bookings taken in June for arrival June through November is up 6.6 percent.