Local resorts show strong revenue growth
Winter Park Resort and Devil’s Thumb Ranch are ahead of the curve in terms of lodging and revenue.
While a study published last week by Inntopia measuring changes in occupancy and revenue at western mountain resort destinations detailed only modest growth in occupancy, resort revenues continue to skyrocket.
The figures are tracked through an Inntopia platform called DestiMetrics, which gathers data and tracks the performance of mountain resorts across the western United States.
The study found that on average summer occupancy at the resorts raised only .2 percent, while revenues are up almost 8.4 percent. The results were aggregated from a huge sample size, collecting data from Colorado, California, Nevada, Oregon, Utah, Idaho, Montana and Wyoming.
“If you look at if from a more micro level in terms of Winter Park and Grand County, you’ll see a much bigger increase in terms of stays and revenue,” said Steve Hurlbert, public information officer for Winter Park Resort.
While neither resort would give specific figures in terms of occupancy or revenue growth, both Winter Park Resort and Devil’s Thumb Ranch said their occupancy growth numbers far outpaced the small .2 percent most resorts were seeing, while also seeing a big bump in revenue.
“I would say occupancy growth has been significant, and the revenue growth has been robust,” said Doug Libby, general manager of Devil’s Thumb Ranch Resort & Spa. “A lot of it has to do with the Rockies and this particular area of Grand County which resonates a lot with our customer base.”
Inntopia credits strong market conditions and significant increases in average daily rates for the phenomenon, but both Winter Park Resort and Devil’s Thumb said rate hikes have been relatively modest.
Hurlbert also said rate increases are difficult to quantify at Winter Park Resort due to the fluctuations throughout the season.
“It’s hard to say that we’ve done X, raised Y or lowered Z,” he said. “It’s a tough metric because it’s so much more complicated. “
Libby said Devil’s Thumb has considered rate hikes, but an emphasis on repeat customers and the overall stability of their other services has made significant increases unnecessary.
“I think the overall trend is pretty emblematic of the sort of growth that we’re experiencing here,” said Hurlbert. “For the longest time Grand County and Winter Park have been the best kept secrets from the Front Range. And now that secret is getting out.”
Granby Ranch Resort did not return calls for comment by the time this article went to print Thursday.
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