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HomeMy WebLinkAbout10. Vail Reservation Activity Outlook as of 2023-06-30Executive Summary Res Activity Outlook as of Jun 30, 2023 Executive Summary Data based on a sample of up to 25 properties in the Vail destination, representing up to 2322 Units ('DestiMetrics Census'*) and 61.16% of 3797 total units in the Vail destination ('Destination Census'**) Last Month Performance: Current YTD vs. Previous YTD 2023 2022 Year over Year % Variance Vail Occupancy for last month (Jun) changed by (-2.4%)Occupancy (Jun) :46.5%47.6%-2.4% Vail ADR for last month (Jun) changed by (-1.5%)ADR (Jun) :$ 327 $ 332 -1.5% Vail RevPAR for last month (Jun) changed by (-3.9%)RevPAR (Jun) :$ 152 $ 158 -3.9% Next Month Performance: Current YTD vs. Previous YTD Vail Occupancy for next month (Jul) changed by (-3.8%)Occupancy (Jul) :51.2%53.3%-3.8% Vail ADR for next month (Jul) changed by (-3.3%)ADR (Jul) :$ 402 $ 416 -3.3% Vail RevPAR for next month (Jul) changed by (-7.0%)RevPAR (Jul) :$ 206 $ 221 -7.0% Historical past 6 months Month Actual Performance: Current YTD vs. Previous YTD Vail Occupancy for the past 6 months changed by (0.1%)Occupancy 53.4%53.3%0.1% Vail ADR for the past 6 months changed by (6.6%)ADR $ 659 $ 618 6.6% Vail RevPAR for the past 6 months changed by (6.7%)RevPAR $ 352 $ 330 6.7% Future 6 Month On The Books Performance: Current YTD vs. Previous YTD Vail Occupancy for the furture 6 months changed by (-1.1%)Occupancy 24.1%24.4%-1.1% Vail ADR for the future 6 months changed by (-2.8%)ADR $ 410 $ 421 -2.8% Vail RevPAR for the future 6 months changed by (-3.9%)RevPAR $ 99 $ 103 -3.9% Incremental Pacing - % Variance in Rooms Booked last Calendar Month: Jun 30, 2023 vs. Previous Year Rooms Booked during last month (Jun,23) compared to Rooms Booked during the same period last year (Jun,22) for all arrival dates has changed by (25.8%)Booking Pace (Jun)6.1%4.8%25.8% * Inntopia Census: Total number of rooms reported by participating Inntopia properties as available for short-term rental in the reporting month. This number can vary monthly as inventories and report participants change over time. ** Destination Census: The total number of rooms available for rental within the community as established by the and adjusted for properties that have opened / closed since that time. This number varies infrequently as new properties start, or existing properties cease operations. © 2023 Sterling Valley Systems, Inc. All rights reserved. No parts of this work may be reproduced in any form or by any means, graphic, electronic or mechanical, including photocopying, recording, taping or information storage and retrieval systems - without the written permission of the copyright holder. Products that are referred to in this document may be either trademarks and/or registered trademarks of the respective owners. The publisher and the author make no claim to these Trademarks. While every precaution has been taken in the preparation of this document, the publisher and the author assume no responsibility for errors or omissions, or for damages resulting from the use of information contained in this document or from the use of programs and source code that may accompany it. In no event shall the publisher and the author be liable for any loss of profit or any other commercial damage caused or alleged to have been caused directly or indirectly by this document. Vail Paid Occupancy (Most Recent Data) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Average Daily Rate (Most Recent Data) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Revenue Per Available Room (Most Recent Data) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Variance in YTD Occupancy and ADR Res Activity Outlook 2023 vs 2022 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Paid Occupancy (Summer-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Average Daily Rate (Summer-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Revenue Per Available Room (Summer-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Variance in YTD Occupancy and ADR (Summer-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Paid Occupancy (Winter-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Average Daily Rate (Winter-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Revenue Per Available Room (Winter-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Variance in YTD Occupancy and ADR (Winter-to-date) Res Activity Outlook 2023 vs 2022 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Vail Paid Occupancy Fill Analysis Res Activity Outlook as of Jun 30, 2023 *Based on providing complete pacing data within a given month of occupancy only. Results may differ from those presented elsewhere in report if property set differs. **Results for "Percent Variance in incremental fill" indicate how room nights booked during the month just ended compare to room nights booked during the same month in the prior year, for occupancy in the month just ended and for the upcoming five months (as well as the six-month period in total). These results provide an indication of the degree to which booking activity occurring during the month just ended was greater or less than booking activity occurring in the same month a year ago -- i.e. a measure of the strength of booking activity occurring during the month just ended. Vail Paid Occupancy (Most Recent Data) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Occ Rate: YTD 2023 VS. YTD 2022 Month of Occupancy Occ Rate as of Jun 30, 2023 Occ Rate as of Jun 30, 2022 Occ Percent Variance in YTD Occ Rate Historic Actual Occ Rate CY Room Nights Available CY Room Nights Booked PY Room Nights Available PY Room Nights Booked # of Properties in sample Jan 23 69.6%65.0%7.1%73,261 50,998 75,747 49,254 26 Feb 23 78.8%77.0%2.3%66,331 52,275 68,773 52,985 26 Mar 23 72.6%72.0%0.9%73,516 53,398 75,921 54,662 26 Apr 23 33.5%37.7%-11.3%70,897 23,721 74,028 27,927 26 May 23 17.0%19.2%-11.3%65,799 11,185 69,050 13,238 24 Jun 23 46.5%47.6%-2.4%69,671 32,383 72,460 34,498 25 Jul 23 51.2%53.3%-3.8%58.7%68,447 35,069 71,762 38,223 23 Aug 23 36.6%38.1%-3.9%53.5%70,252 25,691 72,573 27,625 24 Sep 23 26.3%27.6%-4.5%49.8%68,742 18,103 71,724 19,773 24 Oct 23 9.4%10.0%-5.9%31.1%68,581 6,480 71,918 7,219 23 Nov 23 5.4%4.2%28.8%28.3%67,432 3,629 69,558 2,907 23 Dec 23 15.4%12.6%22.3%58.1%70,653 10,885 72,734 9,164 24 Grand Total 38.8%39.0%-0.3%50.1%833,582 323,817 866,248 337,475 26 Historical Months Total 53.4%53.3%0.1%53.3%419,475 223,960 435,979 232,564 26 On the Books Total 24.1%24.4%-1.1%46.8%414,107 99,857 430,269 104,911 24 Vail Average Daily Rate (Most Recent Data) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Average Daily Rate: YTD 2023 VS. YTD 2022 Month of Occupancy ADR as of Jun 30, 2023 ADR as of Jun 30, 2022 ADR Percent Variance in YTD Adr Rate Historic Actual ADR CY Room Nights Booked CY Room Revenue Booked PY Room Nights Booked PY Room Revenue Booked # of Properties in sample Jan 23 $758.64 $701.36 8.2%50,998 $ 38,689,065 49,254 $ 34,544,583 26 Feb 23 $841.72 $773.89 8.8%52,275 $ 44,000,693 52,985 $ 41,004,488 26 Mar 23 $787.61 $789.91 -0.3%53,398 $ 42,056,624 54,662 $ 43,178,043 26 Apr 23 $395.85 $368.03 7.6%23,721 $ 9,389,928 27,927 $ 10,277,944 26 May 23 $260.24 $248.52 4.7%11,185 $ 2,910,765 13,238 $ 3,289,882 24 Jun 23 $326.71 $331.83 -1.5%32,383 $ 10,579,826 34,498 $ 11,447,372 25 Jul 23 $402.04 $415.67 -3.3%$410.59 35,069 $ 14,099,110 38,223 $ 15,888,177 23 Aug 23 $369.53 $395.58 -6.6%$378.56 25,691 $ 9,493,594 27,625 $ 10,927,873 24 Sep 23 $314.60 $295.33 6.5%$310.13 18,103 $ 5,695,241 19,773 $ 5,839,572 24 Oct 23 $263.09 $258.64 1.7%$269.39 6,480 $ 1,704,796 7,219 $ 1,867,121 23 Nov 23 $397.85 $358.80 10.9%$321.62 3,629 $ 1,443,790 2,907 $ 1,043,035 23 Dec 23 $776.85 $942.95 -17.6%$789.74 10,885 $ 8,456,047 9,164 $ 8,641,148 24 Grand Total $ 582 $ 557 4.5%$ 537 323,817 $ 188,519,480 337,475 $ 187,949,237 26 Historical Months Total $ 659 $ 618 6.6%$ 618 223,960 $ 147,626,902 232,564 $ 143,742,311 26 On the Books Total $ 410 $ 421 -2.8%$ 442 99,857 $ 40,892,578 104,911 $ 44,206,926 24 Vail Revenue Per Available Room (Most Recent Data) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com RevPAR Rate: YTD 2023 VS. YTD 2022 Month of Occupancy RevPAR as of Jun 30, 2023 RevPAR as of Jun 30, 2022 RevPAR Percent Variance in YTD RevPAR Rate Historic Actual RevPAR CY Room Nights Available CY Room Revenue Booked PY Room Nights Available PY Room Revenue Booked # of Properties in sample Jan 23 $528.10 $456.05 15.8%73,261 $ 38,689,065 75,747 $ 34,544,583 26 Feb 23 $663.35 $596.23 11.3%66,331 $ 44,000,693 68,773 $ 41,004,488 26 Mar 23 $572.07 $568.72 0.6%73,516 $ 42,056,624 75,921 $ 43,178,043 26 Apr 23 $132.44 $138.84 -4.6%70,897 $ 9,389,928 74,028 $ 10,277,944 26 May 23 $44.24 $47.64 -7.2%65,799 $ 2,910,765 69,050 $ 3,289,882 24 Jun 23 $151.85 $157.98 -3.9%69,671 $ 10,579,826 72,460 $ 11,447,372 25 Jul 23 $205.99 $221.40 -7.0%$240.99 68,447 $ 14,099,110 71,762 $ 15,888,177 23 Aug 23 $135.14 $150.58 -10.3%$202.49 70,252 $ 9,493,594 72,573 $ 10,927,873 24 Sep 23 $82.85 $81.42 1.8%$154.53 68,742 $ 5,695,241 71,724 $ 5,839,572 24 Oct 23 $24.86 $25.96 -4.3%$83.77 68,581 $ 1,704,796 71,918 $ 1,867,121 23 Nov 23 $21.41 $15.00 42.8%$90.94 67,432 $ 1,443,790 69,558 $ 1,043,035 23 Dec 23 $119.68 $118.80 0.7%$459.01 70,653 $ 8,456,047 72,734 $ 8,641,148 24 Grand Total $ 226 $ 217 4.2%$ 269 833,582 $ 188,519,480 866,248 $ 187,949,237 26 Historical Months Total $ 352 $ 330 6.7%$ 330 419,475 $ 147,626,902 435,979 $ 143,742,311 26 On the Books Total $ 99 $ 103 -3.9%$ 207 414,107 $ 40,892,578 430,269 $ 44,206,926 24 Vail Data Tables (Summer-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Summer Bookings: Revenue Per Available Room: YTD 2023 VS. YTD 2022 Month of Occupancy RevPAR as of Jun 30, 2023 RevPAR as of Jun 30, 2022 Percent Variance in YTD RevPAR Historic Actual RevPAR CY Room Nights Available CY Room Revenue Booked PY Room Nights Available PY Room Revenue Booked # of Properties in sample May 23 $44.24 $47.64 -7.2%65,799 $ 2,910,765 69,050 $ 3,289,882 24 Jun 23 $151.85 $157.98 -3.9%69,671 $ 10,579,826 72,460 $ 11,447,372 25 Jul 23 $205.99 $221.40 -7.0%$240.99 68,447 $ 14,099,110 71,762 $ 15,888,177 23 Aug 23 $135.14 $150.58 -10.3%$202.49 70,252 $ 9,493,594 72,573 $ 10,927,873 24 Sep 23 $82.85 $81.42 1.8%$154.53 68,742 $ 5,695,241 71,724 $ 5,839,572 24 Oct 23 $24.86 $25.96 -4.3%$83.77 68,581 $ 1,704,796 71,918 $ 1,867,121 23 Summer Total $ 108 $ 115 -5.7%$ 149 411,492 $ 44,483,332 429,487 $ 49,259,996 25 Summer Bookings: Average Daily Rate: YTD 2023 VS. YTD 2022 Month of Occupancy ADR as of Jun 30, 2023 ADR as of Jun 30, 2022 Percent Variance in YTD Adr Rate Historic Actual ADR CY Room Nights Booked CY Room Revenue Booked PY Room Nights Booked PY Room Revenue Booked # of Properties in sample May 23 $260.24 $248.52 4.7%11,185 $ 2,910,765 13,238 $ 3,289,882 24 Jun 23 $326.71 $331.83 -1.5%32,383 $ 10,579,826 34,498 $ 11,447,372 25 Jul 23 $402.04 $415.67 -3.3%$410.59 35,069 $ 14,099,110 38,223 $ 15,888,177 23 Aug 23 $369.53 $395.58 -6.6%$378.56 25,691 $ 9,493,594 27,625 $ 10,927,873 24 Sep 23 $314.60 $295.33 6.5%$310.13 18,103 $ 5,695,241 19,773 $ 5,839,572 24 Oct 23 $263.09 $258.64 1.7%$269.39 6,480 $ 1,704,796 7,219 $ 1,867,121 23 Summer Total $ 345 $ 350 -1.5%$ 342 128,911 $ 44,483,332 140,576 $ 49,259,996 25 Summer Bookings: Occ Rate: YTD 2023 VS. YTD 2022 Month of Occupancy Occ Rate as of Jun 30, 2023 Occ Rate as of Jun 30, 2022 Occ Percent Variance in YTD Occ Rate Historic Actual Occ Rate CY Room Nights Available CY Room Nights Booked PY Room Nights Available PY Room Nights Booked # of Properties in sample May 23 17.0%19.2%-11.3%65,799 11,185 69,050 13,238 24 Jun 23 46.5%47.6%-2.4%69,671 32,383 72,460 34,498 25 Jul 23 51.2%53.3%-3.8%58.7%68,447 35,069 71,762 38,223 23 Aug 23 36.6%38.1%-3.9%53.5%70,252 25,691 72,573 27,625 24 Sep 23 26.3%27.6%-4.5%49.8%68,742 18,103 71,724 19,773 24 Oct 23 9.4%10.0%-5.9%31.1%68,581 6,480 71,918 7,219 23 Summer Total 31.3%32.7%-4.3%43.5%411,492 128,911 429,487 140,576 25 Vail Data Tables (Winter-to-date) Res Activity Outlook as of Jun 30, 2023 © 2023 Sterling Valley Systems, Inc. DBA Inntopia Inntopia's business practices, metrics, reports, systems and procedures and all subscriber data is CONFIDENTIAL INFORMATION, and protected by law. Reproduction or distribution is prohibited. All individual Inntopia subscriber data is kept strictly confidential and displayed only when aggregated with other similar data and indistinguishable as a result. Inntopia, DestiMetrics@Inntopia.com Winter Bookings: Revenue Per Available Room: YTD 2023 VS. YTD 2022 Month of Occupancy RevPAR as of Jun 30, 2023 RevPAR as of Jun 30, 2022 Percent Variance in YTD RevPAR Rate Historic Actual RevPAR CY Room Nights Available CY Room Revenue Booked PY Room Nights Available PY Room Revenue Booked # of Properties in sample Nov 23 $21.41 $15.00 42.8%$90.94 67,432 $ 1,443,790 69,558 $ 1,043,035 23 Dec 23 $119.68 $118.80 0.7%$459.01 70,653 $ 8,456,047 72,734 $ 8,641,148 24 Jan 24 Feb 24 Mar 24 Apr 24 Winter Total $ 72 $ 68 5.3%$ 280 138,085 $ 9,899,837 142,292 $ 9,684,183 25 Winter Bookings: Average Daily Rate: YTD 2023 VS. YTD 2022 Month of Occupancy ADR as of Jun 30, 2023 ADR as of Jun 30, 2022 Percent Variance in YTD Adr Rate Historic Actual ADR CY Room Nights Booked CY Room Revenue Booked PY Room Nights Booked PY Room Revenue Booked # of Properties in sample Nov 23 $397.85 $358.80 10.9%$321.62 3,629 $ 1,443,790 2,907 $ 1,043,035 23 Dec 23 $776.85 $942.95 -17.6%$789.74 10,885 $ 8,456,047 9,164 $ 8,641,148 24 Jan 24 Feb 24 Mar 24 Apr 24 Winter Total $ 682 $ 802 -15.0%$ 642 14,514 $ 9,899,837 12,071 $ 9,684,183 25 Winter Bookings: Occ Rate: YTD 2023 VS. YTD 2022 Month of Occupancy Occ Rate as of Jun 30, 2023 Occ Rate as of Jun 30, 2022 Occupancy Percent Variance in YTD Occ Rate Historic Actual Occ Rate CY Room Nights Available CY Room Nights Booked PY Room Nights Available PY Room Nights Booked # of Properties in sample Nov 23 5.4%4.2%28.8%28.3%67,432 3,629 69,558 2,907 23 Dec 23 15.4%12.6%22.3%58.1%70,653 10,885 72,734 9,164 24 Jan 24 Feb 24 Mar 24 Apr 24 Winter Total 10.5%8.5%23.9%43.6%138,085 14,514 142,292 12,071 25