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HomeMy WebLinkAboutVail Reservation Activity Outlook as of 5 31 2023Executive Summary Res Activity Outlook as of May 31, 2023 Executive Summary Data based on a sample of up to 24 properties in the Vail destination, representing up to 2123 Units ('DestiMetrics Census'*) and 55.90% of 3797 total units in the Vail destination ('Destination Census'**) Last Month Performance: Current YTD vs. Previous YTD 2022/23 2021/22 Year over Year % Variance Vail Occupancy for last month (May) changed by (-11.3%)Occupancy (May) :17.0%19.2%-11.3% Vail ADR for last month (May) changed by (4.7%)ADR (May) :$ 260 $ 249 4.7% Vail RevPAR for last month (May) changed by (-7.2%)RevPAR (May) :$ 44 $ 48 -7.2% Next Month Performance: Current YTD vs. Previous YTD Vail Occupancy for next month (Jun) changed by (-8.2%)Occupancy (Jun) :39.7%43.2%-8.2% Vail ADR for next month (Jun) changed by (1.0%)ADR (Jun) :$ 346 $ 343 1.0% Vail RevPAR for next month (Jun) changed by (-7.3%)RevPAR (Jun) :$ 137 $ 148 -7.3% Historical past 6 months Month Actual Performance: Current YTD vs. Previous YTD Vail Occupancy for the past 6 months changed by (-1.0%)Occupancy 55.3%55.9%-1.0% Vail ADR for the past 6 months changed by (5.4%)ADR $ 729 $ 692 5.4% Vail RevPAR for the past 6 months changed by (4.4%)RevPAR $ 403 $ 386 4.4% Future 6 Month On The Books Performance: Current YTD vs. Previous YTD Vail Occupancy for the furture 6 months changed by (-8.5%)Occupancy 23.3%25.5%-8.5% Vail ADR for the future 6 months changed by (0.8%)ADR $ 383 $ 380 0.8% Vail RevPAR for the future 6 months changed by (-7.8%)RevPAR $ 89 $ 97 -7.8% Incremental Pacing - % Variance in Rooms Booked last Calendar Month: May 31, 2023 vs. Previous Year Rooms Booked during last month (May,23) compared to Rooms Booked during the same period last year (May,22) for all arrival dates has changed by (1.7%)Booking Pace (May)4.4%4.4%1.7% * 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 May 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 May 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 May 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 2022/23 vs 2021/22 © 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 May 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 May 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 May 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 as of May 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 (Winter-to-date) Res Activity Outlook as of May 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 May 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 May 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 2022/23 vs 2021/22 © 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 May 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 May 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 2022/23 VS. YTD 2021/22 Month of Occupancy Occ Rate as of May 31, 2023 Occ Rate as of May 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 Dec 22 57.9%62.4%-7.3%75,047 43,426 76,441 47,712 26 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 39.7%43.2%-8.2%46.6%65,795 26,120 68,535 29,629 24 Jul 23 40.7%45.5%-10.6%58.3%66,194 26,960 68,925 31,387 23 Aug 23 26.6%28.9%-7.8%50.6%57,349 15,271 59,397 17,158 23 Sep 23 16.9%19.7%-14.2%44.5%55,810 9,438 58,996 11,630 23 Oct 23 6.8%7.2%-5.0%27.7%57,810 3,952 61,655 4,436 23 Nov 23 3.8%3.1%24.0%28.4%57,059 2,171 59,741 1,833 23 Grand Total 40.6%41.8%-2.9%50.0%784,868 318,915 817,209 341,851 26 Historical Months Total 55.3%55.9%-1.0%55.9%424,851 235,003 439,960 245,778 26 On the Books Total 23.3%25.5%-8.5%43.2%360,017 83,912 377,249 96,073 24 Vail Average Daily Rate (Most Recent Data) Res Activity Outlook as of May 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 2022/23 VS. YTD 2021/22 Month of Occupancy ADR as of May 31, 2023 ADR as of May 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 Dec 22 $790.61 $790.53 0.0%43,426 $ 34,333,067 47,712 $ 37,717,688 26 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 $346.32 $343.06 1.0%$339.45 26,120 $ 9,045,873 29,629 $ 10,164,469 24 Jul 23 $427.27 $424.64 0.6%$421.98 26,960 $ 11,519,249 31,387 $ 13,328,022 23 Aug 23 $405.24 $420.85 -3.7%$408.20 15,271 $ 6,188,402 17,158 $ 7,221,012 23 Sep 23 $356.65 $333.18 7.0%$342.33 9,438 $ 3,366,033 11,630 $ 3,874,889 23 Oct 23 $261.47 $274.18 -4.6%$283.33 3,952 $ 1,033,310 4,436 $ 1,216,250 23 Nov 23 $460.07 $397.78 15.7%$329.72 2,171 $ 998,807 1,833 $ 729,126 23 Grand Total $ 638 $ 604 5.6%$ 562 318,915 $ 203,531,816 341,851 $ 206,546,395 26 Historical Months Total $ 729 $ 692 5.4%$ 692 235,003 $ 171,380,142 245,778 $ 170,012,627 26 On the Books Total $ 383 $ 380 0.8%$ 367 83,912 $ 32,151,674 96,073 $ 36,533,768 24 Vail Revenue Per Available Room (Most Recent Data) Res Activity Outlook as of May 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 2022/23 VS. YTD 2021/22 Month of Occupancy RevPAR as of May 31, 2023 RevPAR as of May 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 Dec 22 $457.49 $493.42 -7.3%75,047 $ 34,333,067 76,441 $ 37,717,688 26 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 $137.49 $148.31 -7.3%$158.25 65,795 $ 9,045,873 68,535 $ 10,164,469 24 Jul 23 $174.02 $193.37 -10.0%$245.97 66,194 $ 11,519,249 68,925 $ 13,328,022 23 Aug 23 $107.91 $121.57 -11.2%$206.42 57,349 $ 6,188,402 59,397 $ 7,221,012 23 Sep 23 $60.31 $65.68 -8.2%$152.33 55,810 $ 3,366,033 58,996 $ 3,874,889 23 Oct 23 $17.87 $19.73 -9.4%$78.50 57,810 $ 1,033,310 61,655 $ 1,216,250 23 Nov 23 $17.50 $12.20 43.4%$93.79 57,059 $ 998,807 59,741 $ 729,126 23 Grand Total $ 259 $ 253 2.6%$ 281 784,868 $ 203,531,816 817,209 $ 206,546,395 26 Historical Months Total $ 403 $ 386 4.4%$ 386 424,851 $ 171,380,142 439,960 $ 170,012,627 26 On the Books Total $ 89 $ 97 -7.8%$ 158 360,017 $ 32,151,674 377,249 $ 36,533,768 24 Vail Data Tables (Summer-to-date) Res Activity Outlook as of May 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 2022/23 VS. YTD 2021/22 Month of Occupancy RevPAR as of May 31, 2023 RevPAR as of May 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 May 23 $44.24 $47.64 -7.2%65,799 $ 2,910,765 69,050 $ 3,289,882 24 Jun 23 $137.49 $148.31 -7.3%$158.25 65,795 $ 9,045,873 68,535 $ 10,164,469 24 Jul 23 $174.02 $193.37 -10.0%$245.97 66,194 $ 11,519,249 68,925 $ 13,328,022 23 Aug 23 $107.91 $121.57 -11.2%$206.42 57,349 $ 6,188,402 59,397 $ 7,221,012 23 Sep 23 $60.31 $65.68 -8.2%$152.33 55,810 $ 3,366,033 58,996 $ 3,874,889 23 Oct 23 $17.87 $19.73 -9.4%$78.50 57,810 $ 1,033,310 61,655 $ 1,216,250 23 Summer Total $ 92 $ 101 -8.7%$ 148 368,757 $ 34,063,632 386,558 $ 39,094,523 24 Summer Bookings: Average Daily Rate: YTD 2022/23 VS. YTD 2021/22 Month of Occupancy ADR as of May 31, 2023 ADR as of May 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 23 $260.24 $248.52 4.7%11,185 $ 2,910,765 13,238 $ 3,289,882 24 Jun 23 $346.32 $343.06 1.0%$339.45 26,120 $ 9,045,873 29,629 $ 10,164,469 24 Jul 23 $427.27 $424.64 0.6%$421.98 26,960 $ 11,519,249 31,387 $ 13,328,022 23 Aug 23 $405.24 $420.85 -3.7%$408.20 15,271 $ 6,188,402 17,158 $ 7,221,012 23 Sep 23 $356.65 $333.18 7.0%$342.33 9,438 $ 3,366,033 11,630 $ 3,874,889 23 Oct 23 $261.47 $274.18 -4.6%$283.33 3,952 $ 1,033,310 4,436 $ 1,216,250 23 Summer Total $ 367 $ 364 0.8%$ 360 92,926 $ 34,063,632 107,478 $ 39,094,523 24 Summer Bookings: Occ Rate: YTD 2022/23 VS. YTD 2021/22 Month of Occupancy Occ Rate as of May 31, 2023 Occ Rate as of May 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 May 23 17.0%19.2%-11.3%65,799 11,185 69,050 13,238 24 Jun 23 39.7%43.2%-8.2%46.6%65,795 26,120 68,535 29,629 24 Jul 23 40.7%45.5%-10.6%58.3%66,194 26,960 68,925 31,387 23 Aug 23 26.6%28.9%-7.8%50.6%57,349 15,271 59,397 17,158 23 Sep 23 16.9%19.7%-14.2%44.5%55,810 9,438 58,996 11,630 23 Oct 23 6.8%7.2%-5.0%27.7%57,810 3,952 61,655 4,436 23 Summer Total 25.2%27.8%-9.4%41.1%368,757 92,926 386,558 107,478 24 Vail Data Tables (Winter-to-date) Res Activity Outlook as of May 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 2022/23 VS. YTD 2021/22 Month of Occupancy RevPAR as of May 31, 2023 RevPAR as of May 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 Nov 23 $17.50 $12.20 43.4%$93.79 57,059 $ 998,807 59,741 $ 729,126 23 Dec 23 Jan 24 Feb 24 Mar 24 Apr 24 Winter Total $ 18 $ 12 43.4%$ 94 57,059 $ 998,807 59,741 $ 729,126 24 Winter Bookings: Average Daily Rate: YTD 2022/23 VS. YTD 2021/22 Month of Occupancy ADR as of May 31, 2023 ADR as of May 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 $460.07 $397.78 15.7%$329.72 2,171 $ 998,807 1,833 $ 729,126 23 Dec 23 Jan 24 Feb 24 Mar 24 Apr 24 Winter Total $ 460 $ 398 15.7%$ 330 2,171 $ 998,807 1,833 $ 729,126 24 Winter Bookings: Occ Rate: YTD 2022/23 VS. YTD 2021/22 Month of Occupancy Occ Rate as of May 31, 2023 Occ Rate as of May 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 Nov 23 3.8%3.1%24.0%28.4%57,059 2,171 59,741 1,833 23 Dec 23 Jan 24 Feb 24 Mar 24 Apr 24 Winter Total 3.8%3.1%24.0%28.4%57,059 2,171 59,741 1,833 24