Rocky Mountain tourism, lodging revenue on the rise, report says
Local lodging companies and other businesses catering to visitors might be happy to hear this news.
According to a report released Monday, June 16, by the Denver-based company DestiMetrics, occupancy and revenues at resort destinations in the Rocky Mountains and Far West are trending positively and looking good through the summer for the third consecutive year.
“Overall, the summer season from May actuals to bookings through October, is very strong,” said Ralf Garrison, DestiMetrics’ director, in a news release.
DestiMetrics tracks forward-looking reservation data year-round at mountain resorts. Data for western resorts comes from a sample of about 290 property management companies in 19 mountain destination communities and represents about 27,500 rooms across Colorado, Utah, California, Nevada, Oregon and Wyoming.
According to the report, May saw an 8 percent increase in actual occupancy and a 14.3 percent increase in revenues compared with May 2013.
May business received a boost this year due to favorable weather, Garrison said.
Among participating western mountain resorts, the report says, combined occupancy for the summer season (May through October) is up 7 percent compared with the same six-month period last year, with revenues up 11.8 percent.
DestiMetrics’ director of operations, Tom Foley, speculated that increased fuel costs could have a negative impact on the mountain markets this summer.
“We know geo-politics are driving up fuel prices, cutting into discretionary money for lodging, shopping and activities while traveling, and potentially shortening stays. But we’re also watching the financial markets, which some believe are oversold and overdue for a correction,” he said. He called both factors “moderate, short-term threats” that combined could upset “the still shaky consumer confidence.”
Garrison added that in the last six years of tracking mountain destinations, DestiMetrics has learned that visitors to those areas are resilient.
“It seems that when times are bad, they ‘need’ a vacation,” he said, “and when times are good, they ‘deserve’ a vacation.”
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