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Jackson Hole Chamber of Commerce

Jackson Hole Tourism Forecast

Forecasting for Business Success / Measuring Performance



 

Current DestiMetrics Reports

July 31, 2016 - Retail Report

July 31, 2016 - Executive Summary

JULY MARKET OVERVIEW: Domestic markets were more than a little resilient in their response to the UK’s vote in June to leave the European Union. Though there will be long-term consequences at home and abroad, for the time being Wall Street is feeling confident, with the Dow Jones gaining sharply during the month. The mood of investors was set in large part by employers, who added a very strong 285,000 jobs during the month, and unemployment remained unchanged as many discouraged workers returned to the booming job market. Both the job and financial markets kept consumers afloat as consumer confidence remained all-but unchanged, declining 0.1 points. None of this buoyancy is lost on the travel market, where guests continue to push summer performance to new record levels in both occupancy and rate. Based on an aggregate data from all DestiMetrics destinations, occupancy for July was up 5.0 percent versus the same time last year, while rate was also up 6.3 percent for the month. Bookings taken in July for arrival in July was down -8.7 percent (not shown). Locally, Jackson Hole occupancy was up 2.7 percent in July versus 2015, accompanied by an increase in rate of 6.0 percent. Jackson Hole occupancy for the past six months (February-July) increased 5.3 percent compared to the same period last year, while rate also increased 7.1 percent. Bookings taken in July for arrival in July were down -25.9 percent compared to July 2015 (not shown).

JULY LOOKING FORWARD: : It is now the peak of the summer travel season and concerns over economic storm clouds as we looked for fallout from the Brexit vote, have failed to materialize. Markets appear on a roll, with the Dow hitting record levels in July and carrying that momentum into August. Employers are also exceeding expectations of-late and there are no clear threats to job creation in the immediate future, which ought to keep consumers confident. However, economic stability leads the Federal Reserve to consider increasing interest rates, and federal election years tend to create uncertainty in the marketplace, at least until election day. So we move into the end of summer and the dynamic, new September / October “season” with a note of caution, but not one of concern. Clearly, the travel consumer is bullish on destination travel, with the months ahead looking very strong. Based on the aggregate of DestiMetrics industry-wide data, on-the-books aggregate occupancy for all destinations for the upcoming six months (August-January) is up 8.2 percent, while rate is also up 4.3 percent from the same period last year. Meanwhile, bookings made during July for arrival July-December was down -7.9 percent compared to the same period in 2015. Locally, Jackson Hole on-the-books Occupancy for August 2016 is up 3.8 percent compared to 2015, accompanied by an increase in rate of 6.1 percent. Occupancy on-the-books for the upcoming six months (August-January) is up 10.7 percent compared to the same period last year, with an increase in rate of 7.7 percent. Jackson Hole bookings taken in July for arrival July-December are down slightly -0.1 percent compared to the same period last year with increases in three of the six months within scope.

How to Read the DestiMetrics Lodging Barometer / 45-Day Retail Report

The DestiMetrics reports provide a wealth of data in one document. Need help understanding how the graphs can predict occupancy? Download the following pdf handout: How To Read the DestiMetrics 45-Day Retail Report.


An Eye on the Economy

The Jackson Hole Economic Dashboard is compiled by the Jackson Hole Chamber of Commerce each month so that our Members can be aware of the numbers that effect business in Jackson Hole.

Jackson Hole Economic Dashboard

  • Download the complete Economic Indicators Published August 15, 2016: Click here.
  • Downlaod the Economic Dashboard Published August 15, 2016: Click here.
  • Download the Visitor Services Department Statistics Published August 15, 2016: Click here.

 Jackson Hole Economic Dashboard Summary, August 2016

  • Teton County Lodging Tax for May 2016 was up by 27% as compared to May 2014 and up 64% as compared to May 2014. Teton County Lodging Tax for July through May 2016 were up by 12% and up 26% as compared to the same time periods in 2015 and 2014, respectively.
  • Sales & Use Tax Income for Teton County for June 2016 was up by 10% as compared to 2015 and up 13% as compared to June 2014. Sales & Use Tax Income for Teton County for July through June 2016 were up by 6% and up 17% as compared to the same time periods in 2015 and 2014, respectively. Reference: revenue.wyo.gov
  • Unemployment rate for June 2016 was down by .30% as compared to June 2015 and down .90% as compared to June 2014.
  • Visitation at Grand Teton National Park (GTNP) is unavailable at this time.
  • Visitation at Yellowstone National Park (YNP) was up by 2% for July 2016 as compared to July 2015 and up 16% as compared to July 2014. YNP visitation for January through July 2016 was up by 7% and up 25% as compared to the same time periods in 2015 and 2014, respectively.
  • Visitation at the Jackson Hole & Greater Yellowstone Visitor Center (JH & GY VC) for July 2016 was down by 3% as compared to July 2015 and up 8% as compared to July 2014.  JH & GY VC visitation for January through July 2016 was up by 4% and up 15% as compared to the same time periods in 2015 and 2014, respectively.
  • Jackson Hole Airport Enplanements for July 2016 were up by 11% as compared to July 2015 and up 8% as compared to July 2014.  Jackson Hole Airport Enplanements for January through July 2016 were up by 11% and up 10% as compared to the same time periods in 2015 and 2014, respectively.
  • DestiMetrics Occupancy for July 2016 was up by 3% as compared to July 2015 and up 5% as compared to July 2014.
  • DestiMetrics ADR for July 2016 was up by 6% as compared to July 2015 and up 18% as compared to July 2014.
  • Historical 6 Month Actual Performance: Occupancy for July 2016 was up by 5% as compared to July 2015 and up 8% as compared to July 2014.
  • Historical 6 Month Actual Performance: ADR for July 2016 was up by 7% as compared to July 2015 and up 16% as compared to July 2014.
  • Future 6 Month On the Books Performance: Occupancy for July 2016 was up by 11% as compared to July 2015 and up 16% as compared to July 2014.
  • Future 6 Month On The Books Performance: ADR for July 2016 was up by 8% as compared to July 2015 and up 19% as compared to July 2014, respectively.
  • Business Licenses Issued were up by 150% as compared to July 2015 and were up 43% as compared to July 2014. Business Licenses Issued for January through July 2016 were up by 40% and down 2% as compared to the same time periods in 2015 and 2014, respectively.
  • Real Estate sales were down by 23% (# of sales) and down 15% ($ volume) for the 1st quarter of 2016 as compared to the 1st quarter of 2015, and down by 13% (# of sales) and up 18% ($ volume) as compared to the 1st quarter of 2015.
  • Construction permits for July 2016 were up by 69% as compared to July 2015 and were down by 21% as compared to July 2014. Construction permits for January through July 2016 were up by 73% and up 92% as compared to the same time periods in 2015 and 2014, respectively.
  • Residential construction total value for July 2016 was up by 3% as compared to July 2015 and down 25% as compared to July 2014. Residential construction total value for January through July 2016 was up by 71% and up 159% as compared to the same time periods in 2015 and 2014, respectively.
  • Commercial construction total value for July 2016 was up by 500% as compared to July 2015 and up 264% as compared to July 2014. Commercial construction total value for January through July 2016 was up by 218% and up 345% as compared to the same time periods in 2015 and 2014, respectively.

Wyoming Office of Tourism Resources

Wyoming Travel Impacts 2000-2015: Click here.
2015 Overnight Visitor Profile Research: Click here.


Visitation to Grand Teton National Park Generates Over 728 Million in Economic Benefit to Local Communities

April 21, 2016 - Visitors to Grand Teton National Park spent an estimated $560 million in local gateway communities last year. The ripple effects of that spending had a cumulative benefit to the local economy of over $728 million and supported 8,862 jobs in nearby communities such as Jackson, Teton Village, and Dubois, Wyoming as well as Victor and Driggs, Idaho. As it did in 2014, Grand Teton ranked among the top five national park areas in terms of economic benefit along with Blue Ridge Parkway, Great Smoky Mountains National Park, Grand Canyon National Park, and Denali National Park & Preserve. For complete information, please click here.


Jackson Hole Conservation Alliance Effective Population Study

Summer 2013 - An Update of the 1993 Study Conducted by Summit Management Consulting on behalf of the Town of Jackson and Teton County, Wyoming. Download the PDF. The report defines Effective Population: "Effective population is defined as the population where people are found at a given point in time, as opposed to counting them only where they reside. Determining the effective population is essential for understanding the cumulative economic, social, and environmental impacts residents, workers, and visitors alike have on the community. Using the estimates from the effective population can help town and county staff, elected officials, and community organizations guide policies, revise land development regulations, and provide levels of service appropriate to the actual human population and ecosystem of Teton County."


Other Helpful Resources