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HomeMy WebLinkAbout03. Vail_Production_Notes_01-31-2023Copyright (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: 01/31/2023 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 January: -2,486 or -80 units per day o February: -2,619 or -94 units per day o March: -2,198 or -71 units per day o April: -3,303 or -110 units per day o May: -4,637 or -150 units per day o June: -1,983 or -66 units per day o July: -2,807 or -91 units per day ➢ On the books occupancy (31.9%) is down -6.9% (-5.8% last month) over last year (34.3%), while historic actual occupancy (48.6%) is down -2.5% (-6.8% last month) over last year (49.8%) ➢ On the books ADR ($670) is up +11.4% (+10.6% last month) over last year ($602), while historic actual ADR ($519) is up +4.2% (+3.1% last month) over last year ($498) ➢ On the books RevPAR ($214) is up +3.7% (+4.1% last month) over last year ($206), while historic actual RevPAR ($252) is up +1.6% (-3.9% last month) over last year ($248) Winter Season: ➢ January gained +10.1% as an absolute measure of occupancy in January o Bookings made in January for January are up +8.4% in absolute variance vs those made last year in January for January ➢ February gained +15.4% as an absolute measure of occupancy in January o Bookings made in January for February are up +4.6% in absolute variance vs those made last year in January for February ➢ March gained +16.3% as an absolute measure of occupancy in January o Bookings made in January for March are up +3.4% in absolute variance vs those made last year in January for March ➢ April gained +0.9% as an absolute measure of occupancy in January o Bookings made in January for April are down -3.3% in absolute variance vs those made last year in January for April ➢ As a measure of RevPAR, ($368), winter season is up +3.8% (-0.1% last report) compared to last year at this time ($354) ➢ As a measure of ADR, ($730), winter season is up +6.3% (+7.4% last report) compared to last year at this time ($686) ➢ As a measure of Occupancy, (50.4%), winter is down -2.4% (-7.0% last report) compared to last year at this time (51.6%) ➢ All months, except January, are experiencing an occupancy decrease over last winter season ➢ All months, except November, are experiencing an ADR gain over last winter season Copyright (c) 2023, Sterling Valley Systems All Rights Reserved. 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Communications@Inntopia.com www.Inntopia.com ➢ Seasonal Inventory o For the entire winter season there are 431,045 room nights available, a -2.4 (-2.1% last report) decrease over last winter season (443,357) ➢ Seasonal Bookings o For the entire winter season there are 217,275 room nights booked, an -5.1% (-8.9% last report) decrease over last winter season (228,885) Summer Season: ➢ May gained +0.0% as an absolute measure of occupancy in January o Bookings made in January for May are down -0.8% in absolute variance vs those made last year in January for May ➢ June gained +2.6% as an absolute measure of occupancy in January o Bookings made in January for June are down -2.8% in absolute variance vs those made last year in January for June ➢ July has just come on the books and is showing 20.4% occupancy, down -21.4% over last year (25.9%) ➢ As a measure of RevPAR, ($54), summer season is down -8.6% (+3.7% last report) compared to last year at this time ($59) ➢ As a measure of ADR, ($348), summer season is up +8.7% (+3.2% last report) compared to last year at this time ($320) ➢ As a measure of Occupancy, (15.6%), summer season is down -15.9% (+0.5% last report) compared to last year at this time (18.6%) ➢ May is experiencing an occupancy gain over last summer season ➢ All months, except May, are experiencing an ADR gain over last summer season ➢ Seasonal Inventory o For the entire summer season there are 212,879 room nights available, a -4.3% (-4.3% last report) decrease over last summer season (222,430) ➢ Seasonal Bookings o For the entire summer season there are 33,221 room nights booked, a -19.5% (-3.8% last report) decrease over last summer season (41,275) (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 January 1, 2023 – July 31, 2023 is: 44.0% ➢ Average Daily Performance for the current month and upcoming 6, January 1st, 2023 to July 31st, 2023 has declined since last report, and is currently down -0.5% (-1.4% last report) compared to last year ➢ Room Nights Booked (RNB) for the current month and upcoming 6, January 1st, 2023 to July 31st, 2023 total 227,624 and are currently down -7,863 or -3.3%, (-584 or -0.3% last report) compared to last year at this time (235,487) ➢ Since the last report (01/15), bookings activity for January 1st through July 31st, 2023 has yielded a net of +14,896 or +14,896 new bookings. This level of net booking activity has decreased -8.6% (+22.2% last report) from the last report (+16,289) 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 +14,896 (+16,289 last report) added since last report: o January: +1,568 (+5,646 last report) or +10.5% (+34.7% last report) o February: +3,469 (+5,796 last report) or +23.3% (+35.6% last report) o March: +5,230 (+5,550 last report) or +35.1% (+34.1% last report) o April: +1,564 (-934 last report) or +10.5% (-5.7% last report) o May: +478 (-272 last report) or +3.2% (-1.7% last report) o June: +1,308 (+503 last report) or +8.8% (+3.0% last report) o July: +1,279 or +8.6% January ➢ January has added roughly 1/3 the net new bookings reported last, though the booking pace was stronger than last year at this time, improving the year over year bookings outperformance, and bringing average daily performance to +3.8% (+2.4% last report) o January Average Daily Occupancy is 76.0% (74.0% last report) o There are +1,609 (-3,376 last report) more bookings than last year at this time o Since the last report, there have been net +1,568 (+5,646 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 30th, with +269 bookings added o The largest net reduction in bookings, since last report, occurred on the 22nd, with -16 bookings cancelled o The largest outperformance was on the 16th, up +2.9% (+13.0% last report), and has shifted to the 26th, up +17.3% over last year at this time o The largest underperformance is on the 31st, down -1.4% (-5.3% 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 February ➢ February added less net new bookings than last report, leading to an increase in the year over year bookings underperformance, though due to a decrease in inventory, average daily performance has improved to -1.8% (- 2.7% last report) o February Average Daily Occupancy is 80.1% (75.3% last report) o There are -2,660 (-386 last report) less bookings than last year at this time o Since the last report, there have been net +3,469 (+5,796 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 25th, with +200 bookings added o No days experienced a net reduction in bookings since last report o The largest outperformance is on the 7th, up +9.8% (+10.8% last report) over last year at this time o The largest underperformance was on the 28th, down -7.2% (-13.5% last report), and has shifted to the 16th, down -9.7% over last year at this time o Inventory is slightly lower than last year at this time March ➢ March had the largest gain in net new bookings of all months reported, and while booking pace last year at this time was stronger than this year - leading to a further increase the year over year bookings underperformance, average daily performance has slightly improved to -1.0% (-3.5% last report) due to a decrease in inventory o March Average Daily Occupancy is 65.3% (58.6% last report) o There are -1,994 (-1,373 last report) less bookings than last year at this time o Since the last report, there have been net +5,230 (+5,550 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 16th, with +232 bookings added o No days experienced a net reduction in bookings since last report o The largest outperformance is on the 30th, up +26.6% (+22.6% last report) over last year at this time o The largest underperformance is on the 12th, down -16.6% (-18.2% last report) over last year at this time o Inventory is slightly lower than last year at this time April ➢ April experienced a reversal of trend from last report as a strong addition of net new bookings was reported, though the bookings have underpaced last year at this time, leading to a year over year bookings underperformance, inversely, average daily performance has improved slightly to -0.2% (-0.5% last report) o April Average Daily Occupancy is 22.5% (20.4% last report) o There are -529 (+57 last report) less bookings than last year at this time o Since the last report, there have been net +1,564 (-934 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 6th, with +174 bookings added o The largest net reduction in bookings, since last report, occurred on the 26th, with -34 bookings cancelled o The largest outperformance is on the 1st, up +19.1% (+17.2% last report) over last year at this time o The largest underperformance was on 18th, down -15.2% (-20.5% last report) over last year at this time o Inventory is most lower than last year at this time Copyright (c) 2023, Sterling Valley Systems All Rights Reserved. Confidential Information not for reproduction and protected by law. Communications@Inntopia.com www.Inntopia.com May ➢ May has experienced a net addition in bookings, a reversal of last report’s trend, and the bookings have contributed to an increase in the year over year bookings outperformance, additionally average daily performance has also increased, to +3.2% (+2.7% last report) o May Average Daily Occupancy is 11.6% (11.0% last report) o There are +2,154 (+2,121 last report) more bookings than last year at this time o Since the last report, there have been net +478 (-272 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 13th and 28th, with +32 bookings added on both days o No days experienced a net reduction in bookings since last report o The largest outperformance was on the 22nd, up +15.8% (+13.2% last report), and has shifted to the 21st, up +15.9% over last year at this time o The largest underperformance was on the 23rd, down -2.9% (-6.1% last report), and has shifted to the 15th, down -4.4% over last year at this time o Inventory is lower than last year at this time June ➢ June has added a larger amount of net new bookings compared to last report, though the bookings are weaker than those added last year as the year over year bookings underperformance has grown further, while average daily performance has also fallen to -2.9% (-2.5% last report) o June Average Daily Occupancy is 25.4% (23.7% last report) o There are -2,700 (-1,247 last report) less bookings than last year at this time o Since the last report, there have been net +1,308 (+503 last report) bookings for the month o The largest net addition in bookings, since the last report, occurred on the 8th, with +209 bookings added o The largest net reduction in bookings, since the last report, occurred on the 3rd, with -48 bookings added o The largest outperformance is on the 17th, up +19.6% (+18.8% last report) over last year at this time o The largest underperformance is on the 14th, down -19.7% (-21.5% last report) over last year at this time o Inventory is lower than last year at this time July ➢ July has been on the books for 2 report cycles now, and is currently showing a substantial underperformance in bookings versus last year, as average daily performance stays negative at -4.8% (-5.6% last report) o July Average Daily Occupancy is 27.45 (25.8% last report) o There are -4,342 (-3,668 last report) less bookings than last year at this time o Since the last report, there have been net +1,279 bookings for the month o The largest net addition in bookings, since the last report, occurred on the 17th, with +79 bookings added o The largest net reduction in bookings, since the last report, occurred on the 24th, with -52 bookings added o The largest outperformance is on the 17th, up +8.8% (+6.0% last report) over last year at this time o The largest underperformance is on the 21st, down +26.9% (-29.7% last report) over last year at this time o Inventory is lower than last year at this time