EPIC PASS TO RETURN NEXT YEAR!
Call it incredible foresight, call it a brilliant marketing strategy, or call it luck, the fact is the Epic Pass clear was a stroke of genius, and it will be back next year! Last year when the Epic Pass was announced, we questioned Vail Resorts’ motives behind the Epic Pass and expressed concern about its impact on parking and quality of the Vail/Beaver Creek ski vacation for those who paid full-fare. Well, we have to admit that our skepticism was wrong. VR’s introduction of the Epic Pass (along with great snow) saved the Vail Valley from economic doom this ski season. Even though it will not be a banner winter, without the Epic Pass, business would have been much worse. Details about next year’s Epic Pass have not been formerly announced, but we understand that for $49 deposit you will be able to lock in on the same $579 price as this ski season. More info next month. .
MORE SKIERS, LESS INCOME – FEBRUARY A TOUGH MONTH FOR LODGING
The economy is taking its toll on the Vail Valley as business is down and each month seems to be getting progressively worse. Looking back, we felt that December business was surprisingly strong given the circumstances. January occupancy was off less then 10% from the previous year, which again is not bad. However, business was considerably worse in February. President’s week was especially disappointing. In spite of Epic Passes being unrestricted, the parking garages were never full over President’s weekend. One local party-animal described the scene in Vail Village on the Monday night as “dead as a weekday in early December”. The outlook for March is even worse as we expect room revenues to drop 30% from last year as demand for Spring Break is way down. March is typically the busiest month of the ski season, but our numbers say that this year March will be surpassed in revenue by December, January and February. March is going to hurt.
This year’s trend has been more day skiers using Epic Passes and heading home. Guests are also waiting until the last minute to book rooms and shopping hard for “deals”, so rates are down. In general, the requests are for shorter stays. All this adds up to lower revenue. However, the good news is there IS some revenue. Vail is not down nearly as much as other resort areas, and people are still calling. Fortunately, the airlines still have very attractive fares into Eagle and Denver. April, however, could be a bright spot as a late Easter should help and we still have an excellent snow-base.
FOOLISH PLAN TO DEVELOP PARKING STRUCTURE BERM IS BACK
The Vail Town Council is considering an amendment to Vail’s Master Plan to facilitate the development of berms of the Vail Village parking structure across from the Mountain Haus, Austria Haus and Vail Mountain Spa & Lodge with a mix of office space, retail, and affordable housing. Affordable housing in Vail Village? Why should we subsidize that? Some people in Vail seem to be determined to develop every last inch of land. The berms provide a pleasant green belt in the Village and before we even consider eliminating them, we ought to wait until Solaris and the Four Seasons are done before we decide on more urbanization, more commercialization and more construction. We think this is a bad idea and if you agree, we encourage you to tell the Town towncouncil@vailgov.com or 970-479-1860 ext. 8. I also encourage you to visit WWW.VAILHOMEOWNERS.COM for more information on this proposal. Also, this is an excellent website to bookmark for staying informed about Vail. We would also suggest subscribing to their emailing list.
SNOW PACK ABOVE NORMAL, BUT DECLINING
This ski season is developing much like last year with record snowfall in December and January and below average in February and thus far in March. The snowpack in the Colorado River drainage is presently at 115% of normal. Statewide it at 108% of normal down from 120% on January 1st.
APRIL FREE CONCERTS – BANDS ARE BANNED?
The Spring Back To Vail promotion has been a community effort led by Vail Resorts to make April a more viable month for business. Spring Back To Vail includes a number of events including Pond Skimming, concerts, street parties and bargain lift tickets. This year, VR wisely concluded that given the economy, the concerts ought to be free. This year’s entertainers include O.A.R., Chris Isaac, and Hasidic Jewish Reggae-star, Matis Yahu. The concerts will be free, but presently there is no venue. It seems that a group of Vail merchants successfully lobbied the Town of Vail to not allow street concerts in April along the Lodge Promenade on Gore Creek Drive (near Sweet Basil). So as of now, we have the performers, but we don’t have a stage.
EAGLE COUNTY LOGO-GATE
What is wrong with these boobs at Eagle County? First, they ignore a marketing study that suggested that Eagle County Airport should change its name to include the word “Vail”. Then they want to market the County and dump $39,000 of taxpayer money to develop a new logo to “re-brand” the county. What are they marketing? To add insult to injury, a survey of County residents resulted in the new logo being rejected in favor of the old one. Even worse, instead of keeping the money local, the County engaged a design firm from Texas and did not even give local firms the opportunity to submit a proposal. On the other hand, kudos to Greater Eagle Fire Protection District who also just developed a new logo. They spent $400.
PRICE INCENTIVES ON ELECTRONICS FOR VAIL REALTY CLIENTS
Vail Realty has made arrangement with Custom Audio Video, the premier custom electronics company in the Vail Valley, for special prices on electronic equipment including Sony Bravia LCD TV’s, Home Theatre Equipment and iPod Docks at very competitive prices. In addition to great pricing, monies are spent locally and you get the benefit of professional installation and expertise. Please contact Ross or Lee at Vail Realty for details and pricing.
SAD NEWS
We are sad to report the passing of former Vail Realty employee Craig King. Craig worked with us for 6 years before moving back to his homeland South Africa. Craig was a loyal employee, and more importantly, a good friend. Craig’s brother, Haydn, still resides in Vail.
ATTENTION: FUTURE MANAGEMENT STATEMENTS TO BE SENT BY EMAIL
In an effort to streamline communication and expedite delivery of information to property owners (and minimize reliance on the bozos at the Post Office), Vail Realty is moving toward converting owner communication via email and fax. To facilitate this change, we have invested in software upgrades and will begin testing and conversion. Beginning this spring, we plan to send monthly management statements to you via email. You will receive Newsletters, Calendars and other correspondence in a separate email. Revenue checks, of course, will continue to be mailed. Please email Lee Williams in our office at lee@vailrealty.com to make sure we have your current email address that you wish to receive correspondence. If for some reason, you prefer not to utilize email, we would appreciate it if you would also let us know.
OTHER NEWS HEADLINES:
Target Would Anchor New Eagle Mall
Yellowstone Wolf Wanders Into Vail Valley – Ranchers Not Thrilled
Eagle County Airport Considering Plan to Charge for Parking
REMINDER: Eagle County Airport to be Closed this Summer for Runway Work
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