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REACTION TO ECONOMY IN MOUNTAIN TRAVEL

Posted in: Summit County Colorado- Jul 19, 2009 No Comments

“STOPLIGHT” REACTION TO ECONOMY IN MOUNTAIN TRAVEL

Red light.  Green light.  Yellow light.  “As the economic news remains mostly unfavorable, mountain destinations moving closer to their prime booking season are tracking the indicators and wavering between moments of seeing a green light to get going and then a red light to stop,” says Ralf Garrison, author of the monthly Monitor produced by the Mountain Travel Research Program (MTRiP).* Last month’s Monitor reported on some positive indicators pointing at a move from a yellow to green light but this month’s data has lapsed back into a red light mode says  Garrison.

According to the MTRiP mountain market indicators as of June 30, the “red light” indicators for mountain travel are consistent with national trends.  Business for June followed the winter pattern with low volume and less strength than last year.  Occupancy was down 14.5 percent and room rates were down 10.2 percent compared to last June.  Reservations taken in June for arrivals in June-November were down 15.7 percent which mimics the booking patterns for the past six months while short-lead, “last minute” bookings were flat, or about even, with last June’s figures.

“Although reservations for the 4th of July holiday brought a welcome bump to mountain communities, the much-anticipated improvements in the market didn’t really materialize,” observed Garrison.  “In our view, the positive signs in the market through the spring didn’t sustain their momentum into this summer and we’re seeing more red lights than green lights this month.”

MTRiP’s forward-looking projections revealed that summer business (May-October) continues to show significant declines from last summer to-date and no evidence of optimistic consumers.  Reservations reveal dramatically decreased occupancy—down 24 percent—and a 15 percent decrease in room rates.  Like June’s booking results, there was no evidence in the data that short-term bookings are filling lodging space as is more typically seen during summer months at mountain resorts.

The data further revealed that consumer confidence and positive market performance shifted from green to red on the MTRiP indicator graphic, amid growing concerns that a Fall 2009 recovery may not materialize.   The Dow Jones Industrial Average continued to react quickly but indecisively to positive and negative news.  The Consumer Confidence Index reacted to both positive and negative economic news and forecasts.  After three consecutive months of increases including a rebound from an all-time low of 25.0 points in February, the CCI declined 5.6 points in June to 49.3 points.  And finally, the Travel Price Index which had been relatively stable for several months during the winter due to sharp declines in lodging rate, airfares, and gasoline prices, continued to react to overall increases in travel-related costs.  Crude oil prices, while well below 2008 record levels, have increased steadily in the past six months and are being reflected as an upward force on the TPI.  Additionally, discounts being offered industry-wide on lodging, while still dramatic, have settled down somewhat from the 50-60% discounts offered at the beginning of the financial crisis.  In May the TPI increased 0.5 percent, the fifth consecutive month monthly increase, bringing the index to 239.9 points, down just 2.1 percent from November 2007.

“Despite the need for caution based on all the indicators, it appears that this will be a “less-bad” summer for mountain communities than last winter,” said Garrison.  “Certain travel segments seem to be holding steadier than others:  family vacations, reunions, special occasions, and ‘one-tank’ vacations are doing comparatively well while luxury, group, and conference travel segments are weakest.”

“MTRiP’s recommendations to mountain communities are for continued diligence until market conditions provide some relief and we can shift to a green light,” concluded Garrison.

*Data is derived from a sample of 216 property management companies in 15 mountain destination communities across Colorado, Utah, California, and British Columbia.  Data is representative of a comprehensive cross-section of the community and may not reflect the entire mountain destination travel industry.

Outlook and Daily Occupancy Report

Posted in: Summit County Colorado, Uncategorized- Jul 10, 2009 6 Comments

The June 30, 2009 Reservations Activity Outlook and Daily Occupancy Report . 

Below is a ‘first look’ at the economic indicators for early July.  In addition to the Economic Indicators, which will be published Friday, be sure to watch for the Mountain Travel Monitor, which mtrip will publish with there Industry-Wide reports next week and includes a full-scale review of the current situation in the Mtn Travel Industry. 

Some early highlights:

§  The Consumer Confidence Index, which has increased in each of the past 3 months, declined somewhat in June as Consumers reflected a negative sentiment toward Employment and Business trends. 

  • The Consumer Price Index increased in May for the 5th consecutive month.  Despite this increase the economy remains deflationary for the 3rd consecutive month, negatively impacting both corporate and private Consumers’ income.    

§  Click here for Consumer Price Index

  • The Unemployment Rate rose somewhat in June from 9.4% to 9.5% nationally with 200,000 jobs lost.  This is the 9th consecutive increase in the Unemployment Rate.

§  Click here for the U.S. Unemployment Rate

This summary is one of several initiatives that we are taking to help provide vital market data to those of you who make strategic decisions for your resort communities and their tourism-dependent businesses 

As always, we appreciate your support and are interested in your suggestions and feedback; let us know what we can do to help.

Ski industry should expect long recovery, says Intrawest CEO Bill Jensen

Posted in: Copper Mountain- Jul 10, 2009 No Comments

WHISTLER, B.C. — The North American ski industry has been hit hard by the global recession and will not likely recover for another two seasons, says the chief executive of Intrawest, owner of the 2010 Winter Olympics venue Whistler Blackcomb.

Bill Jensen told a ski industry conference Tuesday that the recovery will not be V-shaped, but more “like a hockey stick” and that signs of a recovery won’t likely appear until the 2011-12 season.

He said the industry has slashed prices and sacrificed revenue gains built up over the past couple of years.

In the December-January period, Jensen said the economy was bad, but that it didn’t really hit consumers until February-March of this year.

The result, he said, was a “noticeable fall off” in revenues.

“What happened in February-March is the norm now,” Jensen said at the Canadian Ski Council’s annual conference in Whistler.

“People just don’t want to open their wallet … . What we offer isn’t something people are required to have. It’s optional.”

In fact, he said the new Peak-2-Peak gondola, which just opened at Whistler-Blackcomb, may not have be constructed had the plan been to build it this year.

“As they say, timing is everything,” Jensen told conference attendees.

The conference was focused in part on how the recession has impacted revenues in the ski industry.

However, Jensen said the economic slump isn’t the only factor behind falling revenues.

He said poor snow conditions at certain ski destinations this past season have also hit resorts hard.

The Canadian Ski Council released statistics Tuesday showing the number of skiers and snowboarders to hit Canadian slopes fell 10 per cent year-over-year to 18.4 million visitors, down from a record 20.5 million visitors in the 2007/08 season.

Jensen said some benefits of the 2010 Winter Olympics include improved infrastructure and the pride it brings local communities and athletes, but more money may not be one of them.

“There are a lot of positive things, but I don’t know if it will ever be measured in dollars,” Jensen said.

“The jury is out on whether we will experience … a longer-term sustained bump.”

Intrawest has been struggling financially since being bought in 2006 by New York-based private equity fund Fortress Investment Group LLC for US$2.8 billion in cash and debt.

The deal was a leveraged buyout with a $1.7-billion loan which came due last fall, when the financial meltdown hit.

Fortress scrambled to refinance the loan after Intrawest, which holds the debt, was pushed to the brink of creditor protection.

Intrawest is considering the sale of many of its assets to improve its balance sheet. It is reportedly in talks to sell its Sandestin Golf and Beach Resort in Florida to a local developer.

Intrawest is not expected to unload jewels such as Whistler-Blackcomb, but there is some speculation it may consider financing some of its businesses independently, such as Mont Tremblant in Quebec.

Jensen would not comment Tuesday on potential sale talks or the state of the company’s debt position.

Inpendence Day In Summit County

Posted in: Summit County Colorado- Jun 27, 2009 No Comments

talinda 2The greatest thing about summer in the Mountains is that it is COOL – the heat on most areas is just unbearable!  I like the fireworks over Dillon Reservoir from the Frisco side.  I go into the neighborhood by the cross county skiing area and park along the street and walk up to the waters edge with my family and a cooler.  The view is perfect the setting is amazing and the traffic out is very manageable.

I suggest getting there about an hour early and enjoying the location.  Set out a blanket and bring a cooler full of your favorite stuff.  The kids can run and play along the lake or in the lightly wooded areas around this side of  the lake.  Don’t rush out after the fireworks show.  Everyone does!  Sit and relax, wait for the rush and mossy on back to your car.  Summit County is about being laid back so get into the mode!

Also during your time in the County this holiday weekend I highly recommend the Alpine slides and a slow or fast rafting trip on the many FULL rivers this year.  Have fun, hope to see you in the county to cool off and relax with us….

Breckenridge CO Events

Posted in: Breckenridge- Jun 21, 2009 No Comments

Breckenridge, CO has so many events planned for this 2009 summer – great time to get away to the Rocky Mountains!  We would love to hear from anyone who is going or has gone tot he annual events listed here.  Obviously we would love to help you with housing if your looking for a place to stay call us at 888.700.2754 ext 100 and we will get you a great deal!!

 
 

 

2009 Summer Breckenridge Events Calendar


 

Kingdom Days: 6/20 – 6/21/2009
 


 

National Repertory Concert Series 6/20 – 8/7/2009

Main Street Performances: 6/26 – 9/6/2009

Anniversary Ball: 7/3/2009

Independence Day Celebration: 7/3 – 7/5/2009

Colorado State Gold Panning Championships: 7/31 – 8/2/2009

Official Anniversary of the Founding of Breckenridge: 8/10/2009

Mining & Railroad Weekend: 8/15 – 8/16/2009

Tentative Genuine Jazz Festival: 8/15 – 8/16/2009

Celebration Weekend: 8/7 – 8/9/2009 Labor Day Weekend: 9/4 – 9/7/2009

Blue Grass Festival: 9/12 – 9/13/2009 (tentative)

Annual Oktoberfest: 9/18 – 9/20/2009



 

 

Frisco Colorado Summer Events

Posted in: Frisco Colorado- Jun 21, 2009 No Comments

Frisco, CO events for  this summer – great time to get away!  We would love to hear from anyone who is going or has gone to the annual events listed here.  Obviously we would love to help you with housing if your looking for a place to stay call us at 888.700.2754 ext 100 and we will get you a great deal!!

2009 Summer Frisco Events Calendar

JUNE

6 Saturday Marina Season Opener Frisco Bay Marina. Come on down for some fun by the water! 6 Saturday Skate Park Grand Re-Opening Frisco Skate Park. Live DJ, Pro Skater demos, BBQ lunch 13 Saturday33rd Annual Run the Rockies Registration is at the Frisco Recreation Building. Includes the Ten Mile Creek 10k Downhill and Half-Marathon

17 Wednesday Historical Lecture Series Begins

12pm, Historic Park. Every Wednesday through August 26th

19-20 Friday& Saturday16th Annual Colorado Barbecue Challenge Main Street. Colorado’s official barbecue cook-off with more than 60 teams from across the country, grilling up everything from Beef, Pork, and even some Tofu. Make a weekend of good food, music, and more!

24 Wednesday-Bike to Work Day Local Frisco coffee shops

27 Saturday-Historic Frisco Town Tour

10am, Historic Park. Free guided tour of Frisco’s Heritage

27 Saturday-Timberline Regatta

10am, Frisco Bay Marina. Open to all levels of sailors

27-28 Saturday& Sunday-Avon Walk for Breast Cancer

Summit Middle School. Support the walk towards a cure

JULY

4 Saturday Frisco’s Fantastic Fourth of July

Main Street and Frisco Bay Marina. A full day celebration featuring a Main Street Parade, kids fishing derby, live music, food, and fireworks over the Marina

4-5 Saturday& Sunday Downtown Frisco Green Art Festival 3rd Avenue. Art with a green twist

17-19 Friday to Sunday Arts and Antique Main Street. Fine art and antiques

18 SaturdayHistoric Frisco Town Tour

10am, Historic Park. Free guided tour of Frisco’s heritage

23 ThursdayConcert In The Park Series

5:30 to 7pm, Frisco Historic Park.

25 SaturdayClassic Boat Show

10am to 2pm, Frisco Bay Marina.

26 Sunday Vettes on the Rockies

Main Street. Looking Glass Corvette Association’s Annual Show and Shine Event. More than 500 Corvettes on Main Street!

30 ThursdayConcert In The Park Series

5:30 to 7pm, Frisco Historic Park.

AUGUST

1 SaturdayCanine 4K

Main Street. Dogs and their humans run or walk the 4K course

6 ThursdayConcert In The Park Series

5:30 to 7pm, Frisco Historic Park.

8 SaturdayThe Collision

Frisco Skate Park. Mountain Madness Skate/Bike Series 8-9 Saturday& SundayArt on Main Street to the Rockies Main Street. Fine art show that attracts the region’s best artists who display their quality art on several blocks of Main Street

16 SundayFrisco Founder’s Day Frisco Historic Park. Frisco’s 130th birthday, concerts, ice cream, and more!

20 ThursdayConcert In The Park Series

5:30 to 7pm, Frisco Historic Park.

22 SaturdayFree Family Fun Fest in Frisco 10am to 4pm, Peninsula Recreation Area. Finally! An event the whole family can enjoy! So much to see and do.

22 SaturdayMusic on Main 4-9pm, Main Street. Free concert featuring Dickie Betts and Tab Benoit

23-28 sundaytoFriday

The America Cup International Fly Fishing Tournament International Teams come from around the world to compete on the 10 Mile, Blue River, and other local rivers

SEPTEMBER

12-27 Autumn Spectacular Make Frisco your hub to see the changing colors. Set some time aside for the fantastic scenery, dining, and shopping specials to go with the season too

12 SaturdayBeetlefest Main Street. A zany day of costumed fun to raise money and build awareness to ward off the Evil Pine Beetle

October 3-4 Saturday& SundayFrisco Cyclocross

Peninsula Recreation Area. Do you have what it takes to compete?

31 SaturdayTrick or Treat on Main Street

6-8pm, Main Street. A fun, safe experience for kids, big and small. Make sure to visit our Haunted House on 3rd Avenue too

December 5-13 Wassail Days

Frisco is your North Pole connection for holiday shopping. Go Wassailing as you enjoy the unique shopping experience with a small town atmosphere, Santa visits, Old English carolers, and the lighting of the Christmas tree