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Jackson Hole Chamber of Commerce

Jackson Hole Tourism Forecast

Forecasting for Business Success / Measuring Performance



 

Current DestiMetrics Reports

April 31, 2017 - Retail Report

April 30, 2017 - Executive Summary (See Excerpt Below)

May 15, 2017 - Retail Report - Updated on May 22, 2017

April 30, 2017 - "Market Overview” by DestiMetrics: April 30 marks the official end of winter and the turning of attention to summer. For the most part, it was a strong month, but based on varying economic and weather conditions. The Down Jones gained slightly during the month, adding 1.34 percent and finishing at 20,941 points. Though in near-record territory, the Dow seems to have hit a recent plateau. Meanwhile, employers added 211,000 jobs and slightly increased earnings, while consumers expressed concerns about the short- and long-term prospects for earnings and confidence declined but remained strong at 120.3 points. Erratic snowfall in meant conditions ranged from epic to spring-like across the industry in April, and the shift of Easter to April had some positive effect on the month, resulting in overall strength. Based on aggregate data from all West DestiMetrics destinations, occupancy for April was up 1.3 percent versus the same time last year, while rate was up 13.0 percent for the month. Bookings taken in April for arrival in April were down -5.1 percent (not shown). Locally, Jackson Hole occupancy was down -13.3 percent in April versus 2016, while there was an increase in rate of 10.7 percent. Jackson Hole occupancy for the past six months (November - April) slightly increased 1.6 percent compared to the same period last year, accompanied by an increase in rate of 6.3 percent. Bookings taken in April for arrival in April were down -31.6 percent compared to April 2016 (not shown).

 April 30, 2017 - “Looking Forward” by DestiMetrics: The Dow continues to sit relatively still around the impressive 21,000-point mark as investors watch for deregulation, interest rate changes and any potential fallout from turmoil in Washington. The strong economic indicators of late will almost certainly trigger an interest rate hike in May that may have an impact on consumers, but consistently strong confidence in the past six months should help offset any short-term negative impact. However, interest rate hikes are in response to gaining inflation and consumers are already stuck in a position of having earnings pace behind cost of living, so room rates at destinations may face some pressure. While we wait to see how the next thirty days unfolds, bookings for the summer ahead are continuing patterns seen during winter, with slightly occupancy gains and sharp rate increases. Based on the aggregate of West DestiMetrics industry-wide data, on-the-books occupancy for the upcoming six months (May - October) is slightly up 1.2 percent, while rate is up 8.9 percent from the same period last year. Meanwhile, bookings made during April for arrival April – September were down -4.4 percent compared to the same period last year. Locally, Jackson Hole on-the-books Occupancy for May 2017 is down -10.7 percent compared to 2016, while there was an increase in rate of 5.4 percent. Occupancy on-the-books for the upcoming six months (May - October) is up 2.1 percent compared to the same period last year, with an increase in rate of 16.9 percent. Jackson Hole bookings taken in April for arrival April – September are down -16.2 percent compared to the same period last year with an increase in one of the six months within scope.

How to Read the DestiMetrics 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.


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 January 2017 was up by .19% as compared to January 2016 and up .81% as compared to January 2015. Teton County Lodging Tax for July through January 2017 was up by 10% and up 22% as compared to the same time periods in 2016 and 2015, respectively.
  • Sales & Use Tax Income for Teton County for January 2017 was up by 2% as compared to 2016 and up 6% as compared to January 2015.  Sales & Use Tax Income for January through April 2017 was up by 6% and up 10% as compared to the same time periods in 2016 and 2015, respectively. revenue.wyo.gov
  • Unemployment rate for January 2017 was down by .80% as compared to January 2016 and down .90% as compared to January 2015.
  • Visitation at Grand Teton National Park (GTNP) for April 2017 was down by 8% as compared to April 2016 and up 4% as compared to April 2015. GTNP visitation for January through April 2017 was down by 8% and down 5% as compared to the same time periods in 2016 and 2015, respectively.
  • Visitation at Yellowstone National Park (YNP) for April 2017 was down by 24% as compared to April 2016 and down 3% as compared to April 2015. YNP visitation for January through April 2017 was down by 12% and down .97% as compared to the same time periods in 2016 and 2015, respectively.
  • Visitation at the Jackson Hole & Greater Yellowstone Visitor Center (JH & GY VC) for April 2017 was up by .35% as compared to April 2016 and up 14% as compared to April 2015. JH & GY VC visitation for January through April 2017 was down by 3% and up 1% as compared to the same time periods in 2016 and 2015, respectively.
  • Jackson Hole Airport Enplanements for April 2017 was down by .84% as compared to April 2016 and up 8% as compared to April 2015.  Jackson Hole Airport Enplanements for January through April 2017 was up by .15% and up 13% as compared to the same time periods in 2016 and 2015, respectively.
  • DestiMetrics Occupancy for April 2017 is unavailable at this time.
  • Business Licenses Issued for April 2017 was down by 36% as compared to April 2016 and up 60% as compared to April 2015. Business Licenses Issued for January through April 2017 was up by 51% and up 67% 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 6% as compared to April 2016 and were down 21% as compared to April 2015. Construction permits for January through April 2017 was down by 52% and down 8% as compared to the same time periods in 2016 and 2015, respectively.
  • Residential construction total value was down by 27% as compared to April 2016 and was down 31% as compared to April 2015. Residential construction total value for January through April 2017 was down by 3% and up 17% as compared to the same time periods in 2016 and 2015, respectively.
  • Commercial construction total value was down by 55% as compared to April 2016 and was down 12% as compared to April 2015. Commercial construction total value for January through April 2017 was up by 239% and up 1220% 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.


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