HomeMy WebLinkAbout06. Vail_Production_Notes_09-30-2023Copyright (c) 2023, Sterling Valley Systems All Rights Reserved.
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Data as of: 09/30/2023
Vail Production Notes
***Participation Note: Please note that the 09/15/23 DOR reports represent 24 of 26 properties in the Vail DestiMetrics program***
RAO PRODUCTION NOTES:
General RAO Notes
➢ All months, except February, are showing a decrease in inventory compared to last year at this time
o September: -1,729 or -58 units per day
o October: -3,318 or -107 units per day
o November: -2,200 or -73 units per day
o December: -1,476 or -48 units per day
o January: -1,833 or -59 units per day
o February: +808 or +28 units per day
o March: -2,684 or -87 units per day
➢ On the books occupancy (27.8%) is up +8.5% (+10.2% last month) over last year (25.6%), while historic actual
occupancy (43.1%) is down -2.1% (-0.9% last month) over last year (44.0%)
➢ On the books ADR ($723) is up +1.7% (+2.5% last month) over last year ($710), while historic actual ADR ($363)
is up +1.3% (+0.7% last month) over last year ($359)
➢ On the books RevPAR ($201) is up +10.4% (+12.9% last month) over last year ($182), while historic actual
RevPAR ($157) is down -0.9% (-0.2% last month) over last year ($158)
Summer Season
➢ September gained +2.9% as an absolute measure of occupancy in September
o Bookings made in September for September are down -3.3% in absolute variance vs those made last
year in September for September
➢ October gained +8.1% as an absolute measure of occupancy in September
o Bookings made in September for October are up +2.2% in absolute variance vs those made last year in
September for October
➢ As a measure of RevPAR, ($145), summer season is down -0.1% (-0.3% last report) compared to last year at this
time ($145)
➢ As a measure of ADR, ($348), summer season is down -0.3% (-1.5% last report) compared to last year at this
time ($349)
➢ As a measure of Occupancy, (41.5%), summer season is up +0.1% (+1.2% last report) compared to last year at
this time (41.5%)
➢ July, August, and October are experiencing an occupancy gain over last summer season
➢ 2 months, May and October, are experiencing an ADR gain over last summer season
➢ Seasonal Inventory
o For the entire summer season there are 417,336 room nights available, a -4.2% (-4.7% last report)
decrease over last summer season (435,530)
➢ Seasonal Bookings
o For the entire summer season there are 173,362 room nights booked, a -3.6% (-3.6% last report)
decrease over last summer season (180,656)
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Winter Season
➢ November gained +5.9% as an absolute measure of occupancy in September
o Bookings made in September for November are up +0.2% in absolute variance vs those made last year in
September for November
➢ December gained +7.7% as an absolute measure of occupancy in September
o Bookings made in September for December are down -0.4% in absolute variance vs those made last year
in September for December
➢ January gained +6.3% as an absolute measure of occupancy in September
o Bookings made in September for January are down -1.2% in absolute variance vs those made last year in
September for January
➢ February gained +7.7% as an absolute measure of occupancy in September
o Bookings made in September for February are down -0.1% in absolute variance vs those made last year
in September for February
➢ March has just come on the books and is showing 23.1% occupancy, down -1.0% over last year at this time
(23.3%)
➢ As a measure of RevPAR, ($229), winter season is up +10.7% (+15.9% last report) compared to last year at this
time ($207)
➢ As a measure of ADR, ($801), winter season is up +1.4% (-1.5% last report) compared to last year at this time
($790)
➢ As a measure of Occupancy, (28.6%), winter is up +9.2% (+17.7% last report) compared to last year at this time
(26.2%)
➢ All months, except March, are showing an occupancy increase over last winter season
➢ November, February, and March show an ADR increase over last winter season
➢ Seasonal Inventory
o For the entire winter season there are currently 347,928 room nights available, a -2.1% (-2.8% last
report) decrease over last winter season (355,313)
➢ Seasonal Bookings
o For the entire winter season there are currently 99,343 room nights booked, a +14.4% (+14.4% last
report) increase over last winter season (92,937)
(This area is intentional left blank)
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DOR PRODUCTION NOTES:
Seasonal Monthly Occupancy Pacing
**Above is a depiction of how average daily occupancy has increased for each month in between reporting periods, starting wit h the May 15th
reporting cycle**
➢ For the Summer season, since the last report, October has experienced the largest increase (+19.5%) in average
daily occupancy
➢ For the Winter season, since the last report, December has experienced the largest increase (+13.1%) in average
daily occupancy
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General DOR Notes
➢ The Average Daily Occupancy for September 1, 2023 – March 31, 2024 is: 38.4%
➢ Average Daily Performance for the current month and upcoming 6, September 1st, 2023 to March 31st, 2024 has
declined since last report, though is currently up +2.3% (+2.5% last report) compared to last year
➢ Room Nights Booked (RNB) for the current month and upcoming 6, September 1st, 2023 to March 31st, 2024
total 195,991 and are currently up +8,718 or +4.7%, (+8,890 or +5.2% last report) compared to last year at this
time (187,273)
➢ Since the last report (09/15), bookings activity for September 1st through March 31st, 2024 has yielded a net of
+16,434 or +16,434 new bookings. This level of net booking activity has increased +17.9% (+7.2% last report)
from the last report (+13,939)
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 +16,434 (+13,939 last report) added since last report:
o September: +847 (+2,666 last report) or +5.2% (+19.1% last report)
o October: +3,799 (+2,172 last report) or +23.1% (+15.6% last report)
o November: +1,749 (+1,969 last report) or +10.6% (+14.1% last report)
o December: +3,496 (+2,180 last report) or +21.3% (+15.6% last report)
o January: +2,145 (+2,383 last report) or +13.1% (+17.1% last report)
o February: +2,338 (+2,569 last report) or +14.2% (+18.4% last report)
o March: +2,060 or +12.5%
**Above is a depiction of how many net new bookings were acquired in each month included in this report**
Net New ookings dded ail e ort
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Monthly DOR Trends
September
➢ September added the fewest net new bookings of all months included as booking demand for the last half of the
month fell, and as such, the year over year bookings underperformance declined further, leading average daily
performance to actualize at -2.2% (-0.9% last report)
o September Average Daily Occupancy is 56.4% (55.3% last report)
o There are -2,532 (-1,769 last report) less bookings than last year at this time
o Since the last report, there have been net +847 (+2,666 last report) bookings for the month
o The largest net addition in bookings, since the last report, occurred on the 30th, with +175 bookings
added
o The largest net reduction in bookings, since the last report, occurred on the 18th, with -15 bookings
cancelled
o The largest outperformance is on the 1st, up +8.2% (+8.3% last report) over last year at this time
o The largest underperformance is on the 7th, down -12.6% (-12.7% last report) over last year at this time
o Daily inventory is lower than last year at this time
October
➢ October has added the most net new bookings of all months included as consumer attention turned towards the
last month of the summer season, improving the year over year bookings outperformance, and additionally,
average daily performance, which has grown to +5.7% (+4.8% last report)
o October Average Daily Occupancy is 31.2% (26.1% last report)
o There are +3,840 (+3,153 last report) more bookings than last year at this time
o Since the last report, there have been net +3,799 (+2,172 last report) bookings for the month
o The largest net addition in bookings, since the last report, occurred on the 7th, with +232 bookings
added
o No days experienced a net reduction in bookings since last report
o The largest outperformance is on the 9th, up +26.4% (+28.7% last report) over last year at this time
o The largest underperformance is on the 1st, down -15.0% (-12.9% last report) over last year at this time
o Daily inventory is mostly lower than last year at this time
November
➢ November’s strong booking ace noted last report did not carry on throughout the month as slightly fewer net
new bookings were reported, leading to a small drop in the year over year bookings outperformance, and
additionally average daily performance which is now +1.8% (+2.4% last report)
o November Average Daily Occupancy is 20.8% (18.4% last report)
o There are +931 (+1,328 last report) more bookings than last year at this time
o Since the last report, there have been net +1,749 (+1,969 last report) bookings for the month
o The largest net addition in bookings, since the last report, occurred on the 18th, with +137 bookings
added
o No days experienced a net reduction in bookings since last report
o The largest outperformance is on the 2nd, up +10.7% (+11.2% last report) over last year at this time
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o The largest underperformance was on the 12th, down -4.9% (-4.8% last report), and has shifted to the
14th, down -9.9% over last year at this time
o Daily inventory is lower than last year at this time
December
➢ December experienced strong net new booking pace, for the second report in a row, boosting the year over year
bookings outperformance as average daily performance increased to +2.3% (+1.3% last report)
o December Average Daily Occupancy is 39.7% (35.1% last report)
o There are +1,122 (+317 last report) more bookings than last year at this time
o Since the last report, there have been net +3,496 (+2,180 last report) bookings for the month
o The largest net addition in bookings, since the last report, occurred on the 29th, with +144 bookings
added
o No days experienced a net reduction in bookings since last report
o The largest outperformance is on the 5th, up +15.1% (+13.9% last report) over last year at this time
o The largest underperformance is on the 19th, down -6.7% (-7.8% last report) over last year at this time
o Daily inventory is lower than last year at this time
January
➢ January added slightly fewer net new bookings than last report, leading to a further decline in the year over year
bookings outperformance, and additionally average daily performance has fallen to +5.4% (+5.9% last report)
o January Average Daily Occupancy is 44.3% (41.5% last report)
o There are +3,432 (+3,686 last report) more bookings than last year at this time
o Since the last report, there have been net +2,145 (+2,383 last report) bookings for the month
o The largest net addition in bookings, since the last report, occurred on the 2nd, with +117 bookings
added
o No days experienced a net reduction in bookings since last report
o The largest outperformance is on the 29th, up +16.7% (+18.7% last report) over last year at this time
o The largest underperformance is on the 14th, down -3.0% (-2.9% last report) over last year at this time
o Daily inventory is lower than last year at this time
February
➢ February added a smaller amount of net new bookings compared to last report, and due to stronger booking
pace last year at this time, the year over year bookings outperformance has declined as average daily
performance has fallen to +2.0% (+3.0% last report)
o February Average Daily Occupancy is 44.4% (41.1% last report)
o There are +856 (+1,475 last report) more bookings than last year at this time
o Since the last report, there have been net +2,338 (+2,569 last report) bookings for the month
o The largest net addition in bookings, since the last report, occurred on the 25th, with +131 bookings
added
o No days experienced a net reduction in bookings since last report
o The largest outperformance was on the 11th, up +13.2% (+13.2% last report), and has shifted to the 13th,
up +14.2% over last year at this time
o The largest underperformance is on the 4th, down -9.2% (-9.6% last report) over last year at this time
o Daily inventory is lower than last year at this time
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March
➢ March has experienced strong net new bookings since last report, leading to an outperformance in bookings
versus last year, and additionally average daily performance has increased to +0.9% (+0.6% last report)
o March Average Daily Occupancy is 32.5% (29.9% last report)
o There are +150 (-141 last report) more bookings than last year at this time
o Since the last report, there have been net +2,060 bookings for the month
o The largest net addition in bookings, since the last report, occurred on the 14th, with +167 bookings
added
o The only net reduction in bookings, since the last report, occurred on the 11th, with -21 bookings
cancelled
o The largest outperformance is on the 27th, up +14.5% (+12.4% last report) over last year at this time
o The largest underperformance was on the 10th, down (-5.6% last report), and has shifted to the 6th,
down -8.9% over last year at this time
o Daily inventory is lower than last year at this time