Jackson Hole Tourism Forecast
Forecasting for Business Success / Measuring Performance
Current DestiMetrics Reports
January 31, 2017 “Market Overview” by DestiMetrics: 2017 has kicked off with a combination of epic snow across western destinations and epic economic performance across most financial markets. Wall Street and employers are on-board with the current state of the economy, while consumers are a little more cautious about the long-term state of the economy. The Dow added a slight 101.5 points in January, closing at 19,864.1 for a third consecutive monthly record, while employers added 227,000 new jobs in January, considerably well above the expected 180,000. Despite these gains, consumer confidence decreased slightly from 113.3 to 111.8 points as wages became an issue of concern. This relatively rosy economic picture was reflected in the mountain travel marketplace with lodging performance in January up across the industry. Based on aggregate data from all DestiMetrics destinations, occupancy for January was up 3.3 percent versus the same time last year, while rate was up 5.1 percent for the month. Bookings taken in January for arrival in January were down -1.1 percent (not shown). Locally, Jackson Hole occupancy was up 9.8 percent in January versus 2016, accompanied by an increase in rate of 8.7 percent. Jackson Hole occupancy for the past six months (August - January) increased 4.8 percent compared to the same period last year, while rate also increased 10.1 percent. Bookings taken in January for arrival in January were down -25.8 percent compared to January 2016 (not shown).
January 31, 2017 “Looking Forward” by DestiMetrics: After a month of relatively flat performance on Wall Street, financial market are beginning to show some signs of renewed growth, driven at least in-part by the petroleum industry, but also on potential regulatory changes on Wall St. At the same time, employers have come through on hiring, putting regular income into consumers’ pockets, though slightly less of it than we would wish. But the consumer side of the market may experience a few blips as oil prices move upward and the Federal Reserve considers counter-inflationary steps such as interest rate increases. Add declines in the number of IRS refunds this year, and delays in getting them to the taxpayers, and consumer spending may slow for the next while. But mountain travel consumers are enjoying on-hill conditions and tolerating higher rates to experience them. Based on the aggregate of DestiMetrics industry-wide data, on-the-books aggregate occupancy for all destinations for the upcoming six months (February – July) is up 1.5 percent, while rate is up 6.1 percent from the same period last year. Meanwhile, bookings made during January for arrival January – June were up 4.3 percent compared to the same period last year. Locally, Jackson Hole on-the-books Occupancy for February 2017 is up 10.2 percent compared to 2016, accompanied by an increase in rate of 10.2 percent. Occupancy on-the-books for the upcoming six months (February- July) is down -0.3 percent compared to the same period last year, with an increase in rate of 14.2 percent. Jackson Hole bookings taken in January for arrival January– June are up 4.7 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 Visitor Services Stats Updated January 13, 2017: Visitor Services Stats
- Download the Economic Dashboard Updated February 17, 2017: Economic Dashboard
- Download the Complete Economic Indicators Document Updated January 19, 2017: Economic Indicators
Jackson Hole Economic Dashboard Summary, February 2017
- Teton County Lodging Tax for November 2016 was up by 12% as compared to November 2015 and up 18% as compared to November 2014. Teton County Lodging Tax for July through January 2016 was up by 9% and up 23% as compared to the same time periods in 2015 and 2014, respectively.
- Sales & Use Tax Income for Teton County for December 2016 was up by 22% as compared to 2015 and up 23% as compared to December 2014. Reference revenue.wyo.gov
- Unemployment rate for December 2016 was down by .40% as compared to December 2015 and down .90% as compared to December 2014.
- Visitation at Grand Teton National Park (GTNP) is unavailable at this time.
- Visitation at Yellowstone National Park (YNP) is unavailable at this time.
- Visitation at the Jackson Hole & Greater Yellowstone Visitor Center (JH & GY VC) for January 2017 was up by .89% as compared to January 2016 and down 6% as compared to January 2015.
- Jackson Hole Airport Enplanements are unavailable at this time.
- DestiMetrics Occupancy is unavailable at this time.
- Business Licenses Issued were up by 300% as compared to January 2016 and were up 43% as compared to January 2015.
- Real Estate sales were down by 35% (# of sales) and down 40% ($ volume) for the 4th quarter of 2016 as compared to the 4th quarter of 2015, and down by 24% (# of sales) and down 25% ($ volume) as compared to the 4th quarter of 2015.
- Building Statistics for January 2017 are unavailable at this time.
Wyoming Office of Tourism Resources
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."
Wyoming Department of Administration and Information, Economic Analysis Division: http://eadiv.state.wy.us/
Wyoming Labor Market Information: http://doe.state.wy.us/lmi
Wyoming At Work, Employment Resource: www.wyomingatwork.com
Wyoming Department of Revenue: http://revenue.state.wy.us/
Largest Employers in Jackson Hole: Download the PDF Info Sheet