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HomeMy WebLinkAbout04. Vail Taxable Sales Report through 2022-10-31Destination: Vail Report Period: Taxable sales through October 2022 a) Vail Village/Lionshead Combined Performance Taxable sales May-Oct 2022 Taxable sales May-Oct 2021 % Difference $60,173,116 $59,321,744 1.4% $74,787,386 $73,892,805 1.2% $56,400,794 $52,286,849 7.9% $191,361,296 $185,501,398 3.2% b) Retail Segment Performance, by Neighborhood Taxable sales May-Oct 2022 Taxable sales May-Oct 2021 % Difference $51,912,657 $50,234,836 3.3% $8,260,459 $9,086,908 -9.1% $60,173,116 $59,321,744 1.4% c) Restaurant Segment Performance, by Neighborhood Taxable sales May-Oct 2022 Taxable sales May-Oct 2021 % Difference $58,049,278 $60,210,882 -3.6% $16,738,108 $13,681,924 22.3% $74,787,386 $73,892,805 1.2% d) Lodging Segment Performance, by Neighborhood Taxable sales May-Oct 2022 Taxable sales May-Oct 2021 % Difference $37,468,018 $34,952,200 7.2% $18,932,776 $17,334,649 9.2% $56,400,794 $52,286,849 7.9%Lodging Sales in Vail Village + Lionshead DESCRIPTION OF REPORT: The Vail Taxable Sales Report is a monthly ("Foundation") and seasonal ("Seasonal") report of taxable sales in Vail Village and Lionshead neighborhoods of Vail, tracking consumer spend at Retail, Restaurant and Lodging businesses in both locations ("neighborhoods") and in aggregate. The report is based on financial data provided by the town(s) included in the report. Details follow: FOUNDATION REPORT: The foundation report is a monthly report comprised of 4 sections focusing on Vail Village and Lionshead neighborhood data, and conveying (a) Retail, Restaurant and Lodging sales by segment and in aggregate, (b) Retail sales by neighborhood and in aggregate, (c) Restaurant sales by neighborhood and in aggregate, and (d) Lodging sales by neighborhood and in aggregate. All data are derived from Town of Vail taxable sales reports and are as-of the most recent date for which data are available. SEASONAL REPORT: The seasonal report is produced 2 times annually, in approximately July and March (data-dependent) and is an expansion of the Foundation Report described above. The seasonal report is intended to provide the client with competitive information both within Vail and with Vail's competitive set for the Summer (May - October) and Winter (November - April) seasons. In addition to the Foundation data, the Seasonal Report includes a comparative analysis of All Vail Neighborhood aggregate sales versus the same data from Aspen, Breckenridge and Steamboat Springs. TOWN OF VAIL TAXABLE SALES REPORT Retail Sales in Vail Village + Lionshead Lodging Sales in Vail Village + Lionshead Restaurant Sales in Vail Village + Lionshead Total Retail/Restaurant/Lodging Sales in Vail Village + Lionshead Lodging Sales in Vail Village Lodging Sales in Lionshead Restaurant Sales in Vail Village + Lionshead Restaurant Sales in Lionshead Restaurant Sales in Vail Village Retail Sales in Lionshead Retail Sales in Vail Village Retail Sales in Vail Village + Lionshead Copyright (c) 2023 DestiMetrics. All Rights Reserved 1 Town of Vail All-Store Monthly Report SECTION 1 - SEASONAL CHARTS BY SEGMENT - VAIL VILLAGE + LIONSHEAD NEIGHBORHOODS Winter 21/22 and Summer 2022 Taxable Sales Retail, Restaurant and Lodging Segments + Aggregate 32.2% 41.8% 36.4%35.1% 18.7% 12.4% 30.6% 6.1%5.0% -0.8%-0.7% 3.6% -6.9% 1.4% -10% 0% 10% 20% 30% 40% 50% $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 1b: Retail Sales -VV + LH Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 48.0%47.7%45.1% 51.1% 28.0% 36.6% 42.9% 13.8% 4.4% -4.8% -1.8% 2.0%-0.1%1.2% -10% 0% 10% 20% 30% 40% 50% 60% $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 1c: Restaurant Sales -VV + LH Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 42.6% 97.3%93.1%90.8% 57.7%53.1% 78.4% 44.3% 27.1% 0.9%2.2%7.7% -3.7%7.9% -20% 0% 20% 40% 60% 80% 100% 120% $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 $160,000,000 $180,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 1d: Lodging Sales -VV + LH Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 39.9% 62.5% 57.9%59.7% 36.2% 31.8% 50.6% 17.7% 10.8% -1.9%-0.2% 4.1% -3.3% 3.2% -10% 0% 10% 20% 30% 40% 50% 60% 70% $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 $350,000,000 $400,000,000 $450,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 1a: Aggregate Sales (Retail + Restaurant + Lodging) -VV + LH Sales thru Oct-22 Sales thru Oct-21 YOY % Variance Copyright (c) 2023 DestiMetrics. All Rights Reserved.2 Town of Vail All-Store Monthly Report SECTION 2 - RETAIL SEGMENT BY NEIGHBORHOOD Winter 21/22 and Summer 2022 Taxable Sales Vail Village, Lionshead and VV/LH Combined 9.7% 49.3% 35.9%33.7% 10.4% 21.3%28.6% -24.9% -12.0%-13.1% -7.5% 4.3% -8.0%-9.1% -30% -20% -10% 0% 10% 20% 30% 40% 50% 60% $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 2c: Lionshead Retail Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 32.2% 41.8% 36.4%35.1% 18.7% 12.4% 30.6% 6.1%5.0% -0.8%-0.7% 3.6% -6.9% 1.4% -10% 0% 10% 20% 30% 40% 50% $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 2a: VV + LH Retail Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 39.3%39.6% 36.6%35.6% 22.0% 10.0% 31.3% 11.3% 8.4% 1.6%0.5% 3.5% -6.7% 3.3% -10% 0% 10% 20% 30% 40% 50% $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000 $100,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 2b: Vail Village Retail Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance Copyright (c) 2023 DestiMetrics. All Rights Reserved.3 Town of Vail All-Store Monthly Report SECTION 3 - RESTAURANT SEGMENT BY NEIGHBORHOOD Winter 21/22 and Summer 2022 Taxable Sales Vail Village, Lionshead and VV/LH Combined 54.2% 50.1%50.1% 60.1% 36.6% 66.1% 50.5% 69.3% 16.8%14.7% 18.3% 37.5% 15.5% 22.3% 0% 10% 20% 30% 40% 50% 60% 70% 80% $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 3c: Lionshead Restaurant Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 48.0%47.7%45.1% 51.1% 28.0% 36.6% 42.9% 13.8% 4.4% -4.8% -1.8% 2.0%-0.1%1.2% -10% 0% 10% 20% 30% 40% 50% 60% $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 3a: VV + LH Restaurant Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 46.4%47.1%43.9% 48.9% 25.9% 30.3% 41.0% 4.6%1.4% -9.3% -6.3%-6.0%-3.7%-3.6% -20% -10% 0% 10% 20% 30% 40% 50% 60% $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000 $100,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 3b: Vail Village Restaurant Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance Copyright (c) 2023 DestiMetrics. All Rights Reserved.4 Town of Vail All-Store Monthly Report SECTION 4 - LODGING SEGMENT BY NEIGHBORHOOD Winter 21/22 and Summer 2022 Taxable Sales Vail Village, Lionshead and VV/LH Combined 40.2% 91.0% 82.2% 91.7% 37.6% 59.5% 70.0% 36.6%32.2% -10.6% 7.6% 32.6% -9.2% 9.2% -20% 0% 20% 40% 60% 80% 100% $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 4c: Lionshead Lodging Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 42.6% 97.3%93.1%90.8% 57.7%53.1% 78.4% 44.3% 27.1% 0.9%2.2%7.7% -3.7%7.9% -20% 0% 20% 40% 60% 80% 100% 120% $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 $160,000,000 $180,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 4a: VV + LH Lodging Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance 44.1% 101.7%100.3% 90.2% 71.4% 49.1% 84.1% 48.9% 24.8% 6.9% -0.5%-3.3%-0.8%7.2% -20% 0% 20% 40% 60% 80% 100% 120% $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 Winter Ttl May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Summer Ttl Chart 4b: Vail Village Lodging Sales Sales thru Oct-22 Sales thru Oct-21 YOY % Variance Copyright (c) 2023 DestiMetrics. All Rights Reserved.5 Town of Vail All-Store Seasonal Report SECTION 5: FIVE YEAR ALL STORE REPORT BY NEIGHBORHOOD AND SEGMENT October 2017 - October 2022 Taxable Sales Vail Village, Lionshead and VV/LH Combined $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Chart 5b: Vail Village 5 Year Sales by Segment Aggregate 5 Year Sales Retail 5 Year Sales Lodging 5 Year Sales Restaurant 5 Year Sales $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Chart 5c: Lionshead 5 Year Sales by SegmentAggregate 5 Year Sales Retail 5 Year Sales Lodging 5 Year Sales Restaurant 5 Year Sales $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 $90,000,000 $100,000,000 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Chart 5a: VV + LH 5 Year Sales by SegmentAggregate 5 Year Sales Retail 5 Year Sales Lodging 5 Year Sales Restaurant 5 Year Sales Copyright (c) 2023 DestiMetrics. All Rights Reserved.6 Town of Vail Total Taxable Sales Destination Comparative Seasonal Report SECTION 6 - VAIL TAXABLE SALES vs INDIVIDUAL COMPETITIVE DESTINATIONS - AGGREGATE Summer 2007 to 2022 and Winter 2006/07 to 2021/22 Absolute Values and Indexing 155% 157% 225% 109% -50% 0% 50% 100% 150% 200% 250% Summer 2007 Summer 08 vs 07 Summer 09 vs 07 Summer 10 vs 07 Summer 11 vs 07 Summer 12 vs 07 Summer 13 vs 07 Summer 14 vs 07 Summer 15 vs 07 Summer 16 vs 07 Summer 17 vs 07 Summer 18 vs 07 Summer 19 vs 07 Summer 20 vs 07 Summer 21 vs 07 Summer 22 vs 07 % V a r i a n c e v s S u m m e r 2 0 0 7 B e n c h m a r k Chart 6b: All Vail and Competitive Destinations taxable summer sales indexed to 2007 Summer 2007 -2022 vs Summer 2007 Benchmark VAIL Summer Index Aspen Summer Index Breckenridge Summer Index Steamboat Springs Summer Index $0 $100,000,000 $200,000,000 $300,000,000 $400,000,000 $500,000,000 $600,000,000 $700,000,000 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 06/07 07/08 08/09 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 Summer Winter To t a l S a l e s b y D e s t i n a t i o n & S e a s o n Chart 6a: All Vail total taxable sales versus Competitive Destination total taxable sales Seasonal Totals Summer 2007 to 2022 and Winter 2006/07 to 2021/22 VAIL Aggregate Aspen Aggregate Breckenridge Aggregate Steamboat Springs Aggregate W 83% 120% 176% 98% -20% 0% 20% 40% 60% 80% 100% 120% 140% 160% 180% Winter 0607 Winter 0708 v. 0607 Winter 0809 v. 0607 Winter 0910 v. 0607 Winter 1011 v. 0607 Winter 1112 v. 0607 Winter 1213 v. 0607 Winter 1314 v. 0607 Winter 1415 v. 0607 Winter 1516 v. 0607 Winter 1617 v. 0607 Winter 1718 v. 0607 Winter 1819 v. 0607 Winter 1920 v. 0607 Winter 2021 v. 0607 Winter 2122 v. 0607 % V a r i a n c e v s W i n t e r 2 0 0 6 / 0 7 B e n c h m a r k Chart 6c: All Vail and Competitive Destinations taxable winter sales indexed to 2006/07 Winter 2006/07 -2021/22 vs Winter 2006/07 Benchmark VAIL Winter Index Aspen Winter Index Breckenridge Winter Index Steamboat Springs Winter Index Copyright (c) 2023 DestiMetrics. All Rights Reserved.7