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Jackson Hole Chamber of Commerce

Jackson Hole Tourism Forecast

Forecasting for Business Success / Measuring Performance



 

Current DestiMetrics/Inntopia Reports

June 30, 2017 - Retail Report - Including the Total Solar Eclipse

June 30, 2017 - Executive Summary

“Market Overview” by DestiMetrics/Inntopia: With June behind us, the surging summer season is now in full-swing at mountain destinations, and being supported by ongoing positive performance in the economy. The Dow Jones, which has been on a plateau for much of the last four months, gained during the month despite political turmoil, increasing by 341 points and closing June at 21,350, an all-time high for the monthly close. Financial markets were pleased overall with job performance as employers added 222,000 jobs and consumers, who continue to feel confident in the current economic conditions, boosted the consumer confidence index to 118.9 points. With such confidence across the economic spectrum, the only immediate concern for the moment is employee earnings, which have recovered little compared to the balance of the economy. But for the time being, when we look at room rates in mountain communities for June, this this disparity isn’t manifesting iteself, though the occupancy story may be different. Based on aggregate data from all West DestiMetrics destinations, occupancy for June was down -0.5 percent versus the same time last year, while rate was up 7.0 percent for the month. Bookings taken in June for arrival in June were down -7.9 percent (not shown). Locally, Jackson Hole occupancy was down -4.9 percent in June versus 2016, while there was an increase in rate of 9.2 percent. Jackson Hole occupancy for the past six months (January - June) slightly decreased -1.9 percent compared to the same period last year, while there was an increase in rate of 5.8 percent. Bookings taken in June for arrival in June were up 9.5 percent compared to June 2016 (not shown).

 “Looking Forward” by DestiMetrics/Inntopia:  Economic expectations for the coming months are primarily positive, with expectations that financial markets will continue upward, albeit gradually, and job creation will remain on-pace with recent months. But both Wall and Main Streets are expressing some concerns about policy implementation out of Washington as the administration continues to struggle on major policy initiatives. Wall Street is awaiting an expected easing of banking regulations to pre-recession status and Main Street continues to seek increases in household earnings, something that has been lingering since the recovery of the recession began in 2010, and clear guidance on health-care initiatives. As of the June 30th data these issues are not impacting the summer season, with room rate gaining sharply across mountain destinations. But occupancy rates are struggling to keep up with last year, though the reasons are unclear. Based on the aggregate of West DestiMetrics industry-wide data, on-the-books occupancy for the upcoming six months (July - December) is slightly down -0.2 percent, while rate is up 7.8 percent from the same period last year. Meanwhile, bookings made during June for arrival June – November were down -3.9 percent compared to the same period last year. Locally, Jackson Hole on- the-books Occupancy for July 2017 is down -4.7 percent compared to 2016, while there was an increase in rate of 15.8 percent. Occupancy on-the- books for the upcoming six months (July - December) is slightly up 0.5 percent compared to the same period last year, accompanied with an increase in rate of 12.2 percent. Jackson Hole bookings taken in June for arrival June – November are down -11.7 percent compared to the same period last year with increases in two of the six months within scope.

How to Read the DestiMetrics/Inntopia Lodging Barometer

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.

DestiMetrics is a product line of Inntopia’s Business Intelligence Division. 


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

 Jackson Hole Economic Dashboard Summary

  • Teton County Lodging Tax for April 2017 was down by 2% as compared to January 2016 and up .38% as compared to January 2015. Teton County Lodging Tax for July through January 2017 was up by 9% and up 21% as compared to the same time periods in 2016 and 2015, respectively.

  • Sales & Use Tax Income for Teton County for May 2017 was down by 29% as compared to January 2016 and down 20% as compared to January 2015.  Sales & Use Tax Income for January through May 2017 was up by 2% and up 8% as compared to the same time periods in 2016 and 2015, respectively. Source.

  • Unemployment rate for May 2017 was down by .80% as compared to May 2016 and down 1% as compared to May 2015.

  • Visitation at Grand Teton National Park (GTNP) for June 2017 was down by 6% as compared to June 2016 and down 2% as compared to June 2015. GTNP visitation for January through June 2017 was down by 8% and up .26% as compared to the same time periods in 2016 and 2015, respectively.

  • Visitation at Yellowstone National Park (YNP) for June 2017 was down by 4% as compared to June 2016 and up 3% as compared to June 2015. YNP visitation for January through June 2017 was down by 5% as compared to June 2016 and up 4% as compared to June 2015.

  • Visitation at the Jackson Hole & Greater Yellowstone Visitor Center (JH & GY VC) for June 2017 was down by 7% as compared to June 2016 and up 5% as compared to June 2015. JH & GY VC visitation for January through June 2017 was down by 2% and up 4% as compared to the same time periods in 2016 and 2015, respectively.

  • Jackson Hole Airport Enplanements for June 2017 was up by 8% as compared to June 2016 and up 13 % as compared to June 2015.  Jackson Hole Airport Enplanements for January through June 2017 was up by 2% and up 13% as compared to the same time periods in 2016 and 2015, respectively.

  • DestiMetrics Occupancy for June 2017 was down by 5% as compared to June 2016 and up 2% as compared to June 2015.

  •  DestiMetrics ADR for June 2017 was up by 9% as compared to June 2016 and up 20% as compared to June 2015.

  • Historical 6 Month Actual Performance: Occupancy for June 2017 was down by 2% as compared to June 2016 and up 4% as compared to June 2015.

  • Historical 6 Month Actual Performance: ADR for June 2017 was up by 6% as compared to June 2016 and up 11% as compared to June 2015.

  • Future 6 Month On the Books Performance: Occupancy for June 2017 was up by .42% as compared to June 2016 and up 12% as compared to June 2015.

  • Future 6 Month On The Books Performance: ADR for June 2017 was up by 12% as compared to June 2016 and up 19% as compared to June 2015.

  • Business Licenses Issued for June 2017 were down by 50% as compared to June 2016 and down 11% as compared to June 2015. Business Licenses Issued for January through June 2017 were up by 16% and up 49% as compared to the same time periods in 2016 and 2015, respectively.

  • Real Estate sales were up by 14% (# of sales) and up 20% ($ volume) for the 1st quarter of 2016 as compared to the 1st quarter of 2015, and down by 13% (# of sales) and up 1% ($ volume) as compared to the 1st quarter of 2015.

  • Construction permits were down by 27% as compared to June 2016 and were up 68% as compared to June 2015. Construction permits for January through June 2017 were down by 45% and up 4% as compared to the same time periods in 2016 and 2015, respectively.

  • Residential construction total value was down by 80% as compared to June 2016 and was up 77% as compared to June 2015. Residential construction total value for January through June 2017 was down by 48% and down 8% as compared to the same time periods in 2016 and 2015, respectively.

  • Commercial construction total value was $0 for June 2017 as compared to $51,900 in June 2016 and $313,000 in June 2015. Commercial construction total value for January through June 2017 was up by 237% and up 10% as compared to the same time periods in 2016 and 2015, respectively.


Wyoming Office of Tourism Resources

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

Travel is an Economic Engine for Wyoming: The Wyoming Office of Tourism recently released an economic report that shows why travel matters to Teton County. According to their report, domestic and international travelers spent $1.02 billion is Teton County and generated $54.8 million in state and local taxes. This tax revenue is used to support public infrastructure like streets and roads, education, fire and police protection, and many other public services in Teton County.  To download the report, please click here: Economic Engine Report.


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