Summit County lodges break all-time revenue records as economy continues to recover

The pros called it from the beginning: This winter was one for the record books.

In February, the Denver-based analytics firm DestiMetrics predicted that lodges in Summit County and across Colorado would break all-time revenue and visit records, based almost solely on an uptick in early reservations from out-of-state guests.

Last week, the firm released its retrospective for the entire winter season, looking at the six-month span from November to April. And the findings were doozies: Lodging revenue this season beat the previous record holder of 2007-08 by 1.2 percent, while it outpaced last season by roughly 11 percent.

Predictions and final figures are both based on data collected from 19 mountain resorts split between the Far West region of California, Oregon and Nevada, and the Rocky Mountain region, including Colorado, Wyoming and Utah.

The final lodging numbers weren’t quite as impressive as mid-season predictions — a warm spell in February and March took a bite out of the revenue forecasting model — but they reflect ground-level marketing tackled by lodges and organizations like the Breckenridge Tourism Office.

“This winter we probably won a lot of people from California and other areas that weren’t doing as well,” says Toby Babich, president of the Breckenridge Lodging Association. “Along with that, the economy is just better. Travel spending is up, our local tourism office has put a lot of focus on promoting Breckenridge to a national and worldwide audience.”

GOOD WINTER, BETTER SUMMER

With winter in the rearview, Garrison and his team have now shifted to summer forecasts.

As of April 30, on-the-books occupancy across both regions is up nearly 9 percent compared to last summer, with increased bookings in all six months and double-digit increases in the shoulder months of May, September and October. It’s statistical proof that recent marketing pushes for year-round recreation are reaching a new — and willing — audience.

“For many years the town of Breckenridge has keyed our shoulder seasons as a time for development,” Babich says. “That’s where you get Oktoberfest and these other events, and we’ve noticed tourism is getting stronger and stronger, even in historically quiet times.”

Local business owners aren’t the only group to benefit from new interest in previously dead seasons. As the economy continues to improve, bringing more guests with more disposable income, Babich is confident that locals at every level — clerks, bike techs, baristas — will benefit. READ MORE




Other News

December 2022 Newsletter Summit County real estate roundup: October sales slow down for winter season NOVEMBER 2016 NEWSLETTER Shorter shoulder season in Summit boosts sales tax revenue in September OCTOBER 2016 NEWSLETTER September 2016 Market Stats Summit County real estate roundup: September sales continue trend of rising prices Dillon Valley the hot market in Summit County condo sales Density of Frisco townhome development faces resistance What is “high plateau” and what does it mean for the Denver housing market? Record Eisenhower Tunnel visits come with benefits, concerns National Association of Realtors economist looks at the future of real estate in Summit New construction drives Summit County sales tax revenues in April Buyer's Resource Newsletter- June 2016 The 3 biggest challenges that homebuyers face in 2016 Home Buyers: Don’t Wait Forever for The One New to the Neighborhood Slopeside Breckenridge townhomes top February real estate sales Exclusive Buyers Agents Predict Challenges for Buyers in 2016 Summit County real estate sees fewer sales for higher dollars in January Buyer's Resource Newsletter- May 2016 Summit County real estate sales end 2015 on a high note Buyer's Resource Newsletter- March 2016 Powder Paradise...if you can afford the price Buyer's Resource Newsletter- February 2016 Metro Denver housing remains constrained and combustible Summit County real estate sales top $157 million for October Urban Renewal in the Rockies: Silverthorne seals the deal on new developments USA Pro Challenge Returns to Summit County Summit County real estate round-up: August property sales top $119 million Local property owner sells Silverthorne lot for $7.25 million Buyer's Resource Newsletter- September 2015 Real estate sales reach $114.5M thanks to good summer market Buyer's Resource Newsletter- July 2015 Breck on track for strong summer business Buyer's Resource Newsletter- June 2015 Breckenridge's infrastructure, cultural improvements Buyer's Resource Newsletter- May 2015 Buyer's Resource Newsletter- April 2015 Homebuyer Mistakes: 7 to Avoid Making Home-Buying 101 – How to Pick the Right Pros Fannie, Freddie, MBA economists predict interest rate hike in 2015 Summit County lodges break all-time revenue records as economy continues to recover Colorado BBQ Challenge brings Kansas City flavor to the Colorado Rockies Final Shock Hill plot in luxury Breckenridge neighborhood sells for $10.25 million Summit County real estate market notches $75M in April on strength of luxury home sales Summit assessor releases values for all county properties May 1 Summit County affordable housing hit hard by recalculated income index Main Street Station property in Breckenridge sells for $5.6M Denver firm buys Blue River Apartments in Silverthorne for $9.2 million 17 Coolest Towns in America Summit County retail sales edging back to pre-Recession levels $3 million Dercum's Dash home becomes priciest Keystone sale since 2007 Summit County real estate sales reach $83 million in March Colorado home prices rising at fastest rate in country Buyer's Resource Newsletter- February 2015 The Fed’s getting closer to raising rates. How much is up in the air Freddie's 3% Down Payments Start Next Week Denver buyers up their game to be last bidder standing in real estate deals Hot tubs are hot commodities for rentals, homeowners in Summit County 10 reasons the housing market could go ballistic this spring Summit County real esate deals in February top $50 million THE 20 COOLEST TOWNS IN THE US Silverthorne delays approval of contested Maryland Creek Ranch parcel Breckenridge and other mountain towns learn to regulate short-term rentals Summit County welcomes newest craft beer hot spot, The Bakers’ Brewery Summit County real estate sales top $61.7 million in January Can The FHA Fix The First-Time Buyer Gap? $12 million Home Depot land purchase in Silverthorne the year’s biggest real estate deal Will Recreational Marijuana Affect Real Estate? 2014 Market Analysis NAHB: Signs Point to a Robust Year for Housing Uber car service expands to Breckenridge, Vail, Aspen The top-selling new-home neighborhoods and builders in markets most likely to succeed in 2015. Generation Y Prefers Suburban Home Over City Condo Buyer's Resource Newsletter- November 2014 Buyer's Resource Newsletter- July 2014