HomeMy WebLinkAbout10. Vail Production Notes as of 2020-03-31Copyright (c) 2020, Sterling Valley Systems All Rights Reserved.
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Data as of: 03/31/2020
Vail Production Notes
CV-19 CLOSURES NOTES:
➢ There are currently 16 properties closed due to COVID-19. These properties' closure dates range from April 1 - May
31 with some properties planning to reopen In May
o Arrabelle at Vail Square
o Christiania Lodge
o Destination Resorts Vail
o Four Seasons Resort Vail
o Grand Hyatt Vail
o Lodge Tower
o Sitzmark Lodge
o Sonnenalp Resort of Vail
o The Wren
o Tivoli Lodge
o Vail International Condos
o Vail Mountain Lodge
o Vail Residences at Cascade Village
o Vail Spa Condos
o Vail Marriott
o Ritz-Carlton Residences
RAO PRODUCTION NOTES:
General RAO Notes:
➢ All months, except March, April and May, are showing an increase in inventory compared to last year at this
time
o March: -4,010 RNA or -129 units per day
o April: -47,154 RNA or -1,572 units per day
o May: -27,963 RNA or -902 units per day
o June: +343 RNA or +11 units per day
o July: +1,255 RNA or +40 units per day
o August: +407 RNA or +13 units per day
o September: +605 RNA or +20 units per day
➢ On the books occupancy is down -15.8% (+6.2% last month) over last year, while historic actual occupancy is also
down -11.1% (+0.1% last month) over last year
➢ On the books ADR is up +2.3% (-1.1% last month) over last year, while historic actual ADR is also up +0.6%
(+2.1% last month) over last year
➢ On the books RevPAR is down -13.8% (+5.0% last month) over last year while historic actual RevPAR is also down
-10.6% (+2.2% last month) over last year
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Winter Season:
➢ March lost -22.7% as an absolute measure of occupancy in March
o Bookings made in March for March are down -32.3% in absolute variance vs those made last year in
March for March
➢ April lost -13.8% as an absolute measure of occupancy in March
o Bookings made in March for April are down -22.3% in absolute variance vs those made last year in
March for April
➢ As a measure of RevPAR, winter season is now down -4.2% (+3.6% last month) compared to last year at this time
➢ As a measure of ADR, winter season is now up +5.1% (+1.1% last month) compared to last year at this time
➢ As a measure of Occupancy, winter season is now down -8.8% (+2.5% last month) compared to last year at this
time
➢ December and February are showing occupancy gains over last winter season
➢ December, January, and March are showing ADR gains over last winter season
➢ Seasonal Inventory
o For the entire winter season there are 417,197 room nights available, a -10.1% (+0.7% last report)
decrease over last winter season (464,233)
➢ Seasonal Bookings
o For the entire winter season there are 200,367 room nights booked, a -18.0% (+3.2% last report)
decrease over last winter season (244,420)
Summer Season:
➢ May lost -3.3% as an absolute measure of occupancy in March
o Bookings made in March for May are down -5.4% in absolute variance vs those made last year in March
for May
➢ June lost -4.2% as an absolute measure of occupancy in March
o Bookings made in March for June are down -6.1% in absolute variance vs those made last year in March
for June
➢ July lost -0.5% as an absolute measure of occupancy in March
o Bookings made in March for July are down -2.6% in absolute variance vs those made last year in March
for July
➢ August gained +0.9% as an absolute measure of occupancy in March
o Bookings made in March for August are down -0.9% in absolute variance vs those made last year in
March for August
➢ September has just come on the books and is showing 16.8% occupancy, up +12.2% over last year (15.0%)
➢ As a measure of RevPAR summer season is down -4.3% (-4.0% last month) compared to last year at this time
➢ As a measure of ADR summer season is up +4.7% (-2.7% last month) compared to last year at this time
➢ As a measure of Occupancy summer season is down -8.7% (-1.4% last month) compared to last year at this time
➢ August and September are showing occupancy gains over last summer season
➢ June and September are showing ADR gains over last summer season
➢ Seasonal Inventory
o For the entire summer season there are 356,875 room nights available, a -6.6% (+4.1% last report)
decrease over last summer season (382,228)
➢ Seasonal Bookings
o For the entire summer season there are 65,335 room nights booked, a -14.7% (+8.6% last report)
decrease over last summer season (76,628)
Copyright (c) 2020, Sterling Valley Systems All Rights Reserved.
Confidential Information not for reproduction and protected by law.
Communications@Inntopia.com
www.Inntopia.com
DOR PRODUCTION NOTES:
March:
➢ The trend from last report has continued as March experienced further cancellations bringing the average daily
performance down to -37.5%
o There were -33,248 (-17,913 last report) less bookings than last year
o Since the last report, -7,962 (-18,325 last report) bookings were cancelled for the month
o The 2nd was the only outperformance of the month
o The largest reduction in bookings since the last report occurred on the 27th, with -567 bookings
cancelled
o Inventory is lower than last year for the entire month
April
➢ As stay at home orders have been extended, April is continuing to see a mass cancellation of bookings with
average daily performance dropping to -19%
o Of the 16 properties reporting closures, all are closed in April
o There are -16,702 (-3,485 last report) less bookings than last year at this time
o Since the last report, -9,412 (-7,857 last report) bookings have been cancelled for the month
o The largest reduction in bookings, since the last report, occurred on the 4th, with -961 bookings
cancelled
o Inventory is lower than last year for the entire month
May
➢ Last report there was an increase in bookings occurring on the last day of the month, which has now changed as
the entire month’s average daily performance is now at -6.2%
o There are -5,999 (-3,412 last report) less bookings than last year at this time
o Since the last report, -1,779 (-2,818 last report) bookings have been cancelled for the month
o Memorial Day Weekend is on average down -0.8% (-2.3% last report) with -311 (-170 last report) less
bookings over last year at this time
o The largest reduction in bookings, since the last report, occurred on the 20th, with -237 bookings
cancelled
o Inventory is lower than last year for the entire month
June
➢ While June appeared to hold some promise of a return to normalcy as of the last report, this trend has changed
dramatically with high cancellations occurring on 29/30 days since the last report
o There are -8,028 (+2,661 last report) less bookings than last year at this time
o June’s average daily performance is -11.4%
o Since the last report, -8,543 bookings have been cancelled for the month
o The largest reduction in bookings, since the last report, occurred on the 19th, with -666 bookings
cancelled
o Inventory is slightly higher than last year for the entire month
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July
➢ July has a mix of performance and is the first month showing a return to normalcy as bookings are
outperforming last year from the 24th-on
o There are +3,684 (+5,460 last report) more bookings than last year at this time
o Since the last report, there have been -5,843 (+6,108 last report) bookings for the month
o July’s average daily performance is -6.1%
o The 4th of July is currently down -9.4% (+8.4% last report) with -205 (+252 last report) less bookings over
last year at this time
o The largest outperformance is on the 31st up +27.2% (+30.1% last report) over last year at this time
o The largest reduction in bookings, since the last report, occurred on the 17th, with -463 bookings
cancelled
o Inventory is slightly higher than last year for the entire month
August
➢ While August has also lost a large amount of bookings since the last report 23/31 days are still outperforming
last year
o There are +6,567 (+10,335 last report) more bookings than last year at this time
o August’s average daily performance is +7.1%
o The largest outperformance is on the 2nd, up +32.5% (+34.9% last report) over last year with the 3rd
following closely behind, up +32.4% (+34.1% last report) over last year at this time
o The largest underperformance was on the 11th, down -3.9% (-3.5% last report) over last year but has
shifted back to the 29th and 30th, both down -4.9% over last year at this time
o Inventory is higher than last year for the entire month
September
➢ September is showing relatively strong performance compared to the other months with only 5 days
underperforming last year
o There are +3,718 (+6,725 last report) more bookings than last year at this time
o The largest outperformance was on the 22nd, up +13.3% (+ 24.1% last report) over last year, but has now
shifted to the 14th up +22.3% over last year at this time
o The largest underperformance is on the 7th, down -18.3% (-12.4% last report) over last year at this time
o Inventory is higher than last year for the entire month