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HomeMy WebLinkAboutVail Reservation Activity Outlook as of 12 31 2023Executive Summary Res Activity Outlook as of Dec 31, 2023 Executive Summary Data based on a sample of up to 24 properties in the Vail destination, representing up to 2269 Units ('DestiMetrics Census'*) and 59.77% of 3797 total units in the Vail destination ('Destination Census'**) Last Month Performance: Current YTD vs. Previous YTD 2023/24 2022/23 Year over Year % Variance Vail Occupancy for last month (Dec) changed by (6.4%)Occupancy (Dec) :60.6%56.9%6.4% Vail ADR for last month (Dec) changed by (-4.0%)ADR (Dec) :$ 788 $ 821 -4.0% Vail RevPAR for last month (Dec) changed by (2.1%)RevPAR (Dec) :$ 477 $ 467 2.1% Next Month Performance: Current YTD vs. Previous YTD Vail Occupancy for next month (Jan) changed by (5.2%)Occupancy (Jan) :61.8%58.7%5.2% Vail ADR for next month (Jan) changed by (0.3%)ADR (Jan) :$ 796 $ 794 0.3% Vail RevPAR for next month (Jan) changed by (5.5%)RevPAR (Jan) :$ 491 $ 466 5.5% Historical past 6 months Month Actual Performance: Current YTD vs. Previous YTD Vail Occupancy for the past 6 months changed by (3.8%)Occupancy 47.5%45.8%3.8% Vail ADR for the past 6 months changed by (-2.7%)ADR $ 436 $ 448 -2.7% Vail RevPAR for the past 6 months changed by (1.0%)RevPAR $ 207 $ 205 1.0% Future 6 Month On The Books Performance: Current YTD vs. Previous YTD Vail Occupancy for the furture 6 months changed by (1.3%)Occupancy 33.5%33.1%1.3% Vail ADR for the future 6 months changed by (2.5%)ADR $ 752 $ 734 2.5% Vail RevPAR for the future 6 months changed by (3.9%)RevPAR $ 252 $ 243 3.9% Incremental Pacing - % Variance in Rooms Booked last Calendar Month: Dec 31, 2023 vs. Previous Year Rooms Booked during last month (Dec,23) compared to Rooms Booked during the same period last year (Dec,22) for all arrival dates has changed by (7.6%)Booking Pace (Dec)6.2%5.8%7.6% * 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 Dec 31, 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 Dec 31, 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 Dec 31, 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 2023/24 vs 2022/23 © 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 Dec 31, 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 Dec 31, 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 Dec 31, 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 as of Dec 31, 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 (Summer-to-date) Res Activity Outlook as of Dec 31, 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 Dec 31, 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 Dec 31, 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 2023/24 vs 2022/23 © 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 Dec 31, 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 Dec 31, 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 2023/24 VS. YTD 2022/23 Month of Occupancy Occ Rate as of Dec 31, 2023 Occ Rate as of Dec 31, 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 Jul 23 61.4%57.6%6.7%69,085 42,451 72,853 41,951 24 Aug 23 54.0%52.5%2.9%70,724 38,221 74,063 38,886 25 Sep 23 49.9%49.0%1.8%70,635 35,258 72,364 35,488 25 Oct 23 30.1%30.3%-0.7%72,739 21,879 74,669 22,613 25 Nov 23 29.3%28.3%3.4%68,550 20,093 70,868 20,085 24 Dec 23 60.6%56.9%6.4%70,352 42,610 71,547 40,732 24 Jan 24 61.8%58.7%5.2%68.8%70,272 43,405 70,947 41,645 24 Feb 24 57.1%58.3%-1.9%78.2%65,211 37,266 63,768 37,145 24 Mar 24 42.3%41.1%2.8%72.1%69,510 29,380 70,279 28,893 24 Apr 24 12.5%14.2%-12.0%33.1%67,915 8,473 67,045 9,504 24 May 24 9.6%7.4%29.9%16.7%63,872 6,150 64,060 4,750 23 Jun 24 16.2%17.3%-6.3%46.1%68,226 11,061 68,360 11,822 24 Grand Total 40.7%39.7%2.5%49.1%827,091 336,247 840,823 333,514 25 Historical Months Total 47.5%45.8%3.8%45.8%422,085 200,512 436,364 199,755 25 On the Books Total 33.5%33.1%1.3%52.8%405,006 135,735 404,459 133,759 24 Vail Average Daily Rate (Most Recent Data) Res Activity Outlook as of Dec 31, 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 2023/24 VS. YTD 2022/23 Month of Occupancy ADR as of Dec 31, 2023 ADR as of Dec 31, 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 Jul 23 $404.14 $417.80 -3.3%42,451 $ 17,155,990 41,951 $ 17,527,295 24 Aug 23 $369.62 $385.19 -4.0%38,221 $ 14,127,063 38,886 $ 14,978,622 25 Sep 23 $315.09 $315.32 -0.1%35,258 $ 11,109,270 35,488 $ 11,190,234 25 Oct 23 $255.32 $268.24 -4.8%21,879 $ 5,586,064 22,613 $ 6,065,659 25 Nov 23 $296.06 $317.60 -6.8%20,093 $ 5,948,659 20,085 $ 6,378,992 24 Dec 23 $788.25 $820.95 -4.0%42,610 $ 33,587,242 40,732 $ 33,438,837 24 Jan 24 $795.56 $793.51 0.3%$784.46 43,405 $ 34,531,432 41,645 $ 33,045,661 24 Feb 24 $891.88 $866.57 2.9%$869.11 37,266 $ 33,236,823 37,145 $ 32,188,591 24 Mar 24 $892.43 $850.40 4.9%$814.16 29,380 $ 26,219,603 28,893 $ 24,570,587 24 Apr 24 $374.27 $396.91 -5.7%$411.11 8,473 $ 3,171,199 9,504 $ 3,772,232 24 May 24 $209.10 $196.08 6.6%$269.65 6,150 $ 1,285,994 4,750 $ 931,356 23 Jun 24 $327.89 $307.32 6.7%$335.19 11,061 $ 3,626,796 11,822 $ 3,633,090 24 Grand Total $ 564 $ 563 0.2%$ 568 336,247 $ 189,586,136 333,514 $ 187,721,156 25 Historical Months Total $ 436 $ 448 -2.7%$ 448 200,512 $ 87,514,288 199,755 $ 89,579,639 25 On the Books Total $ 752 $ 734 2.5%$ 680 135,735 $ 102,071,848 133,759 $ 98,141,517 24 Vail Revenue Per Available Room (Most Recent Data) Res Activity Outlook as of Dec 31, 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 2023/24 VS. YTD 2022/23 Month of Occupancy RevPAR as of Dec 31, 2023 RevPAR as of Dec 31, 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 Jul 23 $248.33 $240.58 3.2%69,085 $ 17,155,990 72,853 $ 17,527,295 24 Aug 23 $199.75 $202.24 -1.2%70,724 $ 14,127,063 74,063 $ 14,978,622 25 Sep 23 $157.28 $154.64 1.7%70,635 $ 11,109,270 72,364 $ 11,190,234 25 Oct 23 $76.80 $81.23 -5.5%72,739 $ 5,586,064 74,669 $ 6,065,659 25 Nov 23 $86.78 $90.01 -3.6%68,550 $ 5,948,659 70,868 $ 6,378,992 24 Dec 23 $477.42 $467.37 2.1%70,352 $ 33,587,242 71,547 $ 33,438,837 24 Jan 24 $491.40 $465.78 5.5%$539.96 70,272 $ 34,531,432 70,947 $ 33,045,661 24 Feb 24 $509.68 $504.78 1.0%$679.69 65,211 $ 33,236,823 63,768 $ 32,188,591 24 Mar 24 $377.21 $349.61 7.9%$586.92 69,510 $ 26,219,603 70,279 $ 24,570,587 24 Apr 24 $46.69 $56.26 -17.0%$136.25 67,915 $ 3,171,199 67,045 $ 3,772,232 24 May 24 $20.13 $14.54 38.5%$45.09 63,872 $ 1,285,994 64,060 $ 931,356 23 Jun 24 $53.16 $53.15 0.0%$154.45 68,226 $ 3,626,796 68,360 $ 3,633,090 24 Grand Total $ 229 $ 223 2.7%$ 279 827,091 $ 189,586,136 840,823 $ 187,721,156 25 Historical Months Total $ 207 $ 205 1.0%$ 205 422,085 $ 87,514,288 436,364 $ 89,579,639 25 On the Books Total $ 252 $ 243 3.9%$ 359 405,006 $ 102,071,848 404,459 $ 98,141,517 24 Vail Data Tables (Winter-to-date) Res Activity Outlook as of Dec 31, 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 2023/24 VS. YTD 2022/23 Month of Occupancy RevPAR as of Dec 31, 2023 RevPAR as of Dec 31, 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 Nov 23 $86.78 $90.01 -3.6%68,550 $ 5,948,659 70,868 $ 6,378,992 24 Dec 23 $477.42 $467.37 2.1%70,352 $ 33,587,242 71,547 $ 33,438,837 24 Jan 24 $491.40 $465.78 5.5%$539.96 70,272 $ 34,531,432 70,947 $ 33,045,661 24 Feb 24 $509.68 $504.78 1.0%$679.69 65,211 $ 33,236,823 63,768 $ 32,188,591 24 Mar 24 $377.21 $349.61 7.9%$586.92 69,510 $ 26,219,603 70,279 $ 24,570,587 24 Apr 24 $46.69 $56.26 -17.0%$136.25 67,915 $ 3,171,199 67,045 $ 3,772,232 24 Winter Total $ 332 $ 322 3.1%$ 413 411,810 $ 136,694,959 414,454 $ 133,394,900 24 Winter Bookings: Average Daily Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy ADR as of Dec 31, 2023 ADR as of Dec 31, 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 $296.06 $317.60 -6.8%20,093 $ 5,948,659 20,085 $ 6,378,992 24 Dec 23 $788.25 $820.95 -4.0%42,610 $ 33,587,242 40,732 $ 33,438,837 24 Jan 24 $795.56 $793.51 0.3%$784.46 43,405 $ 34,531,432 41,645 $ 33,045,661 24 Feb 24 $891.88 $866.57 2.9%$869.11 37,266 $ 33,236,823 37,145 $ 32,188,591 24 Mar 24 $892.43 $850.40 4.9%$814.16 29,380 $ 26,219,603 28,893 $ 24,570,587 24 Apr 24 $374.27 $396.91 -5.7%$411.11 8,473 $ 3,171,199 9,504 $ 3,772,232 24 Winter Total $ 754 $ 749 0.7%$ 739 181,227 $ 136,694,959 178,004 $ 133,394,900 24 Winter Bookings: Occ Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy Occ Rate as of Dec 31, 2023 Occ Rate as of Dec 31, 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 Nov 23 29.3%28.3%3.4%68,550 20,093 70,868 20,085 24 Dec 23 60.6%56.9%6.4%70,352 42,610 71,547 40,732 24 Jan 24 61.8%58.7%5.2%68.8%70,272 43,405 70,947 41,645 24 Feb 24 57.1%58.3%-1.9%78.2%65,211 37,266 63,768 37,145 24 Mar 24 42.3%41.1%2.8%72.1%69,510 29,380 70,279 28,893 24 Apr 24 12.5%14.2%-12.0%33.1%67,915 8,473 67,045 9,504 24 Winter Total 44.0%42.9%2.5%55.9%411,810 181,227 414,454 178,004 24 Vail Data Tables (Summer-to-date) Res Activity Outlook as of Dec 31, 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 2023/24 VS. YTD 2022/23 Month of Occupancy RevPAR as of Dec 31, 2023 RevPAR as of Dec 31, 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 May 24 $20.13 $14.54 38.5%$45.09 63,872 $ 1,285,994 64,060 $ 931,356 23 Jun 24 $53.16 $53.15 0.0%$154.45 68,226 $ 3,626,796 68,360 $ 3,633,090 24 Jul 24 Aug 24 Sep 24 Oct 24 Summer Total $ 37 $ 34 7.9%$ 101 132,098 $ 4,912,790 132,420 $ 4,564,446 24 Summer Bookings: Average Daily Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy ADR as of Dec 31, 2023 ADR as of Dec 31, 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 24 $209.10 $196.08 6.6%$269.65 6,150 $ 1,285,994 4,750 $ 931,356 23 Jun 24 $327.89 $307.32 6.7%$335.19 11,061 $ 3,626,796 11,822 $ 3,633,090 24 Jul 24 Aug 24 Sep 24 Oct 24 Summer Total $ 285 $ 275 3.6%$ 318 17,211 $ 4,912,790 16,572 $ 4,564,446 24 Summer Bookings: Occ Rate: YTD 2023/24 VS. YTD 2022/23 Month of Occupancy Occ Rate as of Dec 31, 2023 Occ Rate as of Dec 31, 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 May 24 9.6%7.4%29.9%16.7%63,872 6,150 64,060 4,750 23 Jun 24 16.2%17.3%-6.3%46.1%68,226 11,061 68,360 11,822 24 Jul 24 Aug 24 Sep 24 Oct 24 Summer Total 13.0%12.5%4.1%31.8%132,098 17,211 132,420 16,572 24