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HomeMy WebLinkAbout09. Vail Production Notes as of 2022-12-31Copyright (c) 2023, Sterling Valley Systems All Rights Reserved. Confidential Information not for reproduction and protected by law. Communications@Inntopia.com www.Inntopia.com Data as of: 12/31/2022 Vail Production Notes RAO PRODUCTION NOTES: General RAO Notes: ➢ All months are showing a decrease in inventory compared to last year at this time o December: -1,394 or -45 units per day o January: -993 or -32 units per day o February: -1,488 or -53 units per day o March: -1,576 or -51 units per day o April: -3,404 or -113 units per day o May: -4,195 or -135 units per day o June: -2,128 or -71 units per day ➢ On the books occupancy (33.0%) is down -5.8% (-7.4% last month) over last year (35.1%), while historic actual occupancy (46.9%) is down -6.8% (-4.9% last month) over last year (50.3%) ➢ On the books ADR ($711) is up +10.6% (+9.4% last month) over last year ($643), while historic actual ADR ($437) is up +3.1% (+6.9% last month) over last year ($423) ➢ On the books RevPAR ($235) is up +4.1% (+0.3% last month) over last year ($225), while historic actual RevPAR ($205) is down -3.9% (+1.7% last month) over last year ($213) Winter Season: ➢ December gained +7.9% as an absolute measure of occupancy in December o Bookings made in December for December are up +5.4% in absolute variance vs those made last year in December for December ➢ January gained +10.3% as an absolute measure of occupancy in December o Bookings made in December for January are down -1.6% in absolute variance vs those made last year in December for January ➢ February gained +9.4% as an absolute measure of occupancy in December o Bookings made in December for February are down -0.8% in absolute variance vs those made last year in December for February ➢ March gained +6.7% as an absolute measure of occupancy in December o Bookings made in December for March are down -2.2% in absolute variance vs those made last year in December for March ➢ April gained +1.8% as an absolute measure of occupancy in December o Bookings made in December for April are equivalent +0.0% in absolute variance vs those made last year in December for April ➢ As a measure of RevPAR, ($315), winter season is down -0.1% (-0.1% last report) compared to last year at this time ($316) ➢ As a measure of ADR, ($724), winter season is up +7.4% (+9.2% last report) compared to last year at this time ($674) ➢ As a measure of Occupancy, (43.5%), winter is down -7.0% (-8.5% last report) compared to last year at this time (46.8%) Copyright (c) 2023, Sterling Valley Systems All Rights Reserved. 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Communications@Inntopia.com www.Inntopia.com ➢ All months are experiencing an occupancy decrease over last winter season ➢ All months, except November, are experiencing an ADR gain over last winter season ➢ Seasonal Inventory o For the entire winter season there are 434,078 room nights available, a -2.1% (-1.8% last report) decrease over last winter season (443,245) ➢ Seasonal Bookings o For the entire winter season there are 188,950 room nights booked, an -8.9% (-10.2% last report) decrease over last winter season (207,373) Summer Season: ➢ May gained +0.3% as an absolute measure of occupancy in December o Bookings made in December for May are down -0.5% in absolute variance vs those made last year in December for May ➢ June has just come on the books and is showing 16.9% occupancy, down -8.1% over last year (18.4%) ➢ As a measure of RevPAR, ($33), summer season is up +3.7% (+21.4% last report) compared to last year at this time ($31) ➢ As a measure of ADR, ($274), summer season is up +3.2% (-14.5% last report) compared to last year at this time ($265) ➢ As a measure of Occupancy, (11.9%), summer season is up +0.5% (+42.0% last report) compared to last year at this time (11.9%) ➢ May is experiencing an occupancy gain over last summer season ➢ June is experiencing an ADR gain over last summer season ➢ Seasonal Inventory o For the entire summer season there are 142,399 room nights available, a -4.3% (-5.4% last report) decrease over last summer season (148,722) ➢ Seasonal Bookings o For the entire summer season there are 16,964 room nights booked, a -3.8% (34.2% last report) decrease over last summer season (17,636) (This area is intentional left blank) Copyright (c) 2023, Sterling Valley Systems All Rights Reserved. Confidential Information not for reproduction and protected by law. Communications@Inntopia.com www.Inntopia.com DOR PRODUCTION NOTES: General DOR Notes: ➢ The Average Daily Occupancy for December 1, 2022 – June 30, 2023 is: 43.4% ➢ Average Daily Performance for the current month and upcoming 6, December 1st, 2022 to June 30th, 2023 has improved since last report, and is currently down -1.1% (-3.0% last report) compared to last year ➢ Room Nights Booked (RNB) for the current month and upcoming 6, December 1st, 2022 to June 30th, 2023 total 226,820 and are currently down -11,527 or -4.8%, (-8,719 or -3.9% last report) compared to last year at this time (238,347) ➢ Since the last report (12/15), bookings activity for December 1st through June 30th, 2023 has yielded a net of +13,331 or +13,331 new bookings. This level of net booking activity has decreased -1.9% (-14.4% last report) from the last report (+13,577) o *It is important to consider that when we observe net statistics these numbers take into account a summation of both bookings and cancellations as both types of activity were noted since the last report. ➢ New booking’s arrival date distribution of the total +13,331 (+13,577 last report) added since last report: o December: +1,482 (+4,129 last report) or +11.1% (+30.4% last report) o January: +4,029 (+3,495 last report) or +30.2% (+25.7% last report) o February: +3,254 (+2,694 last report) or +24.4% (+19.8% last report) o March: +2,920 (+2,349 last report) or +21.9% (+17.3% last report) o April: +937 (+819 last report) or +7.0% (+6.0% last report) o May: +155 (+91 last report) or +1.2% (+0.7% last report) o June: +554 or +4.2% December ➢ December added a relatively small amount of net new bookings compared to prior reports, and due to strong short-lead booking pace at this time last year, the year over year booking underperformance has grown further, though due to inventory differences, the average daily performance has improved to -5.1% (-7.8% last report) o December Average Daily Occupancy is 65.1% (63.2% last report) o There are -5,431 (-4,449 last report) less bookings than last year at this time o Since the last report, there have been net +1,482 (+4,129 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 31st, with +284 bookings added o The largest net reduction in bookings, since last report, occurred on the 4th and 5th, with -9 cancellations o The largest outperformance was on the 6th, up +4.7% (+3.4% last report), and has shifted to the 31st, up +5.6% over last year at this time o The largest underperformance was on the 26th, down -15.5% (-19.8% last report), and has shifted to the 8th, down -16.7% over last year at this time o Inventory is slightly lower than last year at this time Copyright (c) 2023, Sterling Valley Systems All Rights Reserved. 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Communications@Inntopia.com www.Inntopia.com January ➢ January added the largest amount of net new bookings as consumers looked to the next month, and while booking pace was strong compared to other months in this report, last year at this time booking pace was stronger, leading to an increase in the year over year bookings underperformance, though inventory changes have helped to improve average daily performance to -2.4% (-4.3% last report) o January Average Daily Occupancy is 66.2% (61.0% last report) o There are -3,115 (-1,935 last report) less bookings than last year at this time o Since the last report, there have been net +4,029 (+3,495 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 1st, with +305 bookings added o No days experienced a net reduction in bookings since last report o The largest outperformance was on the 15th, up +2.4% (+3.5% last report), and has shifted to the 3rd, up +4.1% over last year at this time o The largest underperformance is on the 28th, down -10.0% (-12.0% last report) over last year at this time o Inventory is slightly higher than last year at this time February ➢ February has added the second largest amount of net new bookings of all months included in this report, though the booking pace was slightly below last year as the year over year bookings underperformance has increased, and due to inventory changes average daily performance has improved to -5.0% (-7.6% last report) o February Average Daily Occupancy is 66.6% (61.9% last report) o There are -4,720 (-3,906 last report) less bookings than last year at this time o Since the last report, there have been net +3,254 (+2,694 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 23rd and 24th, with +172 bookings added o No days experienced a net reduction in bookings since last report o The largest outperformance is on the 7th, up +3.9% (+2.4% last report) over last year at this time o The largest underperformance was on the 22nd, down -11.7% (-16.5% last report), and has shifted to the 19th, down -14.2% over last year at this time o Inventory is slightly lower than last year at this time March ➢ March has added more net new bookings than last report, which has helped to improve average daily performance to -2.3% (-4.9% last report), though the year over year booking underperformance has grown further as booking pace for the month was stronger last year at this time o March Average Daily Occupancy is 51.1% (47.3% last report) o There are -2,928 (-2,596 last report) less bookings than last year at this time o Since the last report, there have been net +2,920 (+2,349 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 15th, with +132 bookings added o No days experienced a net reduction in bookings since last report o The largest outperformance is on the 30th, up +13.4% (+9.4% last report) over last year at this time o The largest underperformance is on the 12th, down -13.4% (-15.4% last report) over last year at this time o Inventory is slightly lower than last year at this time Copyright (c) 2023, Sterling Valley Systems All Rights Reserved. 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Communications@Inntopia.com www.Inntopia.com April ➢ April has added slightly more net new bookings than last report, and due to strong booking pace this year, the year over year bookings outperformance and grown further, leading to an increase in average daily performance to +3.1% (+1.4% last report) o April Average Daily Occupancy is 21.6% (20.3% last report) o There are +1,963 (+1,586 last report) more bookings than last year at this time o Since the last report, there have been net +937 (+819 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 1st, with +95 bookings added o The only net reduction in bookings, since last report, occurred on the 29th, with -31 bookings cancelled o The largest outperformance is on the 4th, up +15.4% (+12.5% last report) over last year at this time o The largest underperformance is on the 17th, down -16.0% (-18.2% last report) over last year at this time o Inventory is mostly slightly lower than last year at this time May ➢ As May continues to add a relatively small amount of net new bookings compared to other months included, the year over year bookings outperformance has grown slightly, and additionally, average daily performance has improved to +3.8% (+3.4% last report) o May Average Daily Occupancy is 25.8% (11.1% last report) o There are +2,654 (+2,648 last report) more bookings than last year at this time o Since the last report, there have been net +155 (+91 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 20th, with +12 bookings added o The largest net reduction in bookings, since the last report, occurred on the 29th, with -8 bookings cancelled o The largest outperformance is on the 11th, up +14.9% (+14.5% last report) over last year at this time o The largest underperformance is on the 23rd, down -5.5% (-3.6% last report) over last year at this time o Inventory is slightly lower than last year at this time June ➢ June has now been on the books for 2 reporting cycles and is showing more of a glimpse of the summer month’s performance, and as net new bookings are added, and the year over year bookings underperformance declines, average daily performance shows equivalency to last year at this time at +0.0% (-1.5% last report) o June Average Daily Occupancy is 22.9% (22.1% last report) o There are -386 (-495 last report) less bookings than last year at this time o Since the last report, there have been net +554 bookings for the month o The largest net addition in bookings, since the last report, occurred on the 21st, with +39 bookings added o No days experienced a net reduction in bookings since last report o The largest outperformance is on the 17th, up +14.7% (+14.1% last report) over last year at this time o The largest underperformance is on the 21st, down -17.9% (-21.1% last report) over last year at this time o Inventory is slightly lower than last year at this time