Trends point to strong summer tourism season
Despite monsoonal rains in some regions, severe drought conditions in other areas, and geo-political volatility, lodging performance and revenues among lodging properties at 19 mountain destinations in six mountain states are continuing their strong pace.
According to Denver-based DestiMetrics, a resort travel research organization that tracks reservation and occupancy at participating resorts, that as of June 30, summer occupancy for the six months from May through October is up an aggregated 6.8 percent compared to last summer with revenue up 12.5 percent. The figures are based on existing bookings for the six months from May through October. Actual occupancy for June was up 4.8 percent with revenues up 8.1 percent compared to June 2014.
“Bookings made in June for the remainder of the summer remained strong, and 74 percent of last summer’s entire business has already been realized or booked,” says Ralf Garrison, director of DestiMetrics. “We are continuing to see gains in most metrics in all the summer months,” he continued.
“Consumers report feeling better about short-and long-term prospects for both employment and business,” says Tom Foley, operations director for DestiMetrics. “And while the markets certainly reacted to the economic crises in China and Greece during June, it is important to note that the Dow remains 4.7 percent higher than last June,” he said.
The monthly report also pointed out that while data is reported in aggregate for the Far West and Rocky Mountain regions, there are considerable differences between the two. Although the Far West resorts continue to deal with drought, as of June 30 they are reporting a 10 percent gain in occupancy and 11 percent increase in revenue compared to last summer. Rocky Mountain resorts have the opposite situation with unusually rainy weather but are still posting a 6.2 percent gain in occupancy and a 12.9 percent in revenue.
“With much of the summer’s reservation activity now quantified, we anticipate a continuation of current trends and a strong finish for summer of 2015,” continued Garrison. “It is likely that this summer will be another one for the record books in many mountain resort communities.”
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Grand County’s real estate transactions Sept. 12-18 were worth more than $30.1 million combined.