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Jackson Hole Chamber of Commerce

Jackson Hole Tourism Forecast

Forecasting for Business Success / Measuring Performance



 

Current DestiMetrics Reports

Click Here to Download the June 30, 2015 - Executive Summary

Click Here to Download the June 30, 2016 - Retail Report

JUNE MARKET OVERVIEW: With the exception of late-month volatility brought on by the successful Brexit campaign in the UK, the domestic economy shifted up a gear in June, with financial, consumer and employer indicators all performing to the positive. Wall Street weathered the initial fallout from the Brexit vote to bounce back and gain a modest 0.8 percent during the month, and though modest, this is the second largest increase in the Dow since October, so is noteworthy. Consumer confidence also moved upward by 6.1 percent, the largest gain since November. But the most encouraging news is the creation of 273,000 jobs in June, a return to form for employers who have been well-below average for the past 3 months. This positive news comes despite global concerns about the eventual impact of the UK’s departure from the EU and markets should look at this as ‘padding’ for potentially challenging times to come. But clearly the mountain destination traveler isn’t concerned about Brexit, just about getting to the mountains. Based on an aggregate data from all DestiMetrics destinations, occupancy for June was up 6.6 percent versus the same time last year, while rate was also up 7.4 percent for the month. Bookings taken in June for arrival in June was up 4.6 percent (not shown). Locally, Jackson Hole occupancy was up 6.2 percent in June versus 2015, accompanied by an increase in rate of 9.7 percent. Jackson Hole occupancy for the past six months (January-June) increased 5.2 percent compared to the same period last year, while rate also increased 7.5 percent. Bookings taken in June for arrival in June were down -25.3 percent compared to June 2015 (not shown).

JUNE LOOKING FORWARD: We’re into the heart of the summer booking season, and there is no shortage of economic drama for the weeks and months ahead. While mountain destinations are consistently able to rely on a dedicated consumer base, there may be a few unexpected realities in our future that can impact performance. Look for ongoing weakness in foreign currencies to keep exchange rates high for the foreseeable future, impacting travel from Canada, the UK and the EU in particular, but also Asia and Brazil. The impact of the Brexit vote, as yet unknown, will be long-term and may change how markets behave, perhaps causing domestic consumers to draw back slightly. Add a contentious – at best – federal election and we’ve got more than a few moving parts that may impact consumers. But as-yet any impact is not yet apparent in the booking trends of our mountain destination travelers, and once again we’re able to talk about record- setting pace for the summer season. Based on the aggregate of DestiMetrics industry-wide data, on-the-books aggregate occupancy for all destinations for the upcoming six months (July - December) is up 10.3 percent, while rate is also up 6.1 percent from the same period last year. Meanwhile, bookings made during June for arrival June - November was up 7.5 percent compared to the same period in 2015. Locally, Jackson Hole on-the-books Occupancy for July 2016 is up 6.0 percent compared to 2015, accompanied by an increase in rate of 5.9 percent. Occupancy on-the-books for the upcoming six months (July-December) is up 9.6 percent compared to the same period last year, with an increase in rate of 6.4 percent. Jackson Hole bookings taken in June for arrival June - November are up 19.2 percent compared to the same period last year with decreases in five 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 July 13, 2016: Click here.
  • Downlaod the Economic Dashboard Published June 13, 2016: Click here.
  • Download the Visitor Services Department Statistics Published June 13, 2016: Click here.

 Jackson Hole Economic Dashboard Summary, June 2016

  • Teton County Lodging Tax for April 2016 was up by 2% as compared to April 2014 and up 24% as compared to April 2014. Teton County Lodging Tax for July through April 2016 were up by 11% and up 24% as compared to the same time periods in 2015 and 2014, respectively.
  • Sales & Use Tax Income for Teton County for May 2016 was up by 13% as compared to 2015 and up 29% as compared to May 2014. Sales & Use Tax Income for Teton County for July through May 2016 were up by 14% and up 29% as compared to the same time periods in 2015 and 2014, respectively. Reference: http://revenue.wyo.gov
  • Unemployment rate for May 2016 was down by .10% as compared to May 2015 and down 1.30% as compared to May 2014.
  • Visitation at Grand Teton National Park (GTNP) was up by 5% for June 2016 as compared to June 2015 and up 17% as compared to June 2014. GTNP visitation for January through June 2016 was up by 9% and up 24% as compared to the same time periods in 2015 and 2014, respectively.
  • Visitation at Yellowstone National Park (YNP) was up by 7% for June 2016 as compared to June 2015 and up 25% as compared to June 2014. YNP visitation for January through June 2016 was up by 10% and up 32% 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 June 2016 was up by 12% as compared to June 2015 and up 16% as compared to June 2014.  JH & GY VC visitation for January through June 2016 was up by 7% and up 18% as compared to the same time periods in 2015 and 2014, respectively.
  • Jackson Hole Airport Enplanements for June 2016 were up by 5% as compared to June 2015 and up 6% as compared to June 2014.  Jackson Hole Airport Enplanements for January through June 2016 were up by 11% and up 10% as compared to the same time periods in 2015 and 2014, respectively.
  • DestiMetrics Occupancy for June 2016 was down by 6% as compared to June 2015 and up 10% as compared to June 2014.
  • DestiMetrics ADR for June 2016 was up by 9% as compared to June 2015 and up 21% as compared to June 2014.
  • Historical 6 Month Actual Performance: Occupancy for June 2016 was up by 5% as compared to June 2015 and up 9% as compared to June 2014.
  • Historical 6 Month Actual Performance: ADR for June 2016 was up by 8% as compared to June 2015 and up 15% as compared to June 2014.
  • Future 6 Month On the Books Performance: Occupancy for June 2016 was up by 10% as compared to June 2015 and up 13% as compared to June 2014.
  • Future 6 Month On The Books Performance: ADR for June 2016 was up by 6% as compared to June 2015 and up 18% as compared to June 2014, respectively.
  • Business Licenses Issued were up by 79% as compared to June 2015 and June 2014, respectively. Business Licenses Issued for January through June 2016 were up by 29% and down 8% 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 June 2016 were up by 132% as compared to June 2015 and were up by 5% as compared to June 2014. Construction permits for January through June 2016 were up by 74% and up 114% as compared to the same time periods in 2015 and 2014, respectively.
  • Residential construction total value for June 2016 was up by 752% as compared to June 2015 and up 689% as compared to June 2014. Residential construction total value for January through June 2016 was up by 78% and up 207% as compared to the same time periods in 2015 and 2014, respectively.
  • Commercial construction total value for June 2016 was down by 83%  as compared to June 2015 and down 73% as compared to June 2014. Commercial construction total value for January through June 2016 was up by 209% and up 351% as compared to the same time periods in 2015 and 2014, respectively.

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