JACKSON, Wyo. — Has the valley felt a bit slower this summer than the last?
The 2021 summer broke multiple records, record heat, record visitation in the national parks, and a seemingly endless supply of visitors passing through town. Restaurant owners reported serving the number of guests they usually see in July, beginning in May.
The Jackson Hole Chamber of Commerce recently released lodging occupancy levels, showing that this summer is falling short of last summer’s record-breaking season.
The Chamber compiles occupancy reports for all of the lodging properties in Jackson. The most recent report is as of June 30.
According to Kent Elliott, director of Destination Global Sales for the Jackson Hole Chamber of Commerce, this summer continues to lag behind last summer. Elliott cited the airport closure for low occupancy rates in May and June, but for July through October, other factors are at play.
In June, occupancy levels were 74.1% compared to June 2021’s 95.2% a 22.1% decrease.
For July, the Chamber is reporting a 22% decrease for “on the books” lodging compared to last July.
Although reservations are lower, average room rates are up about 18% in July. Room revenue for “on the books” this July is projected at $16,088,067 compared to July 2021’s $17,281,010.
Short-term bookings might also end up increasing the occupancy levels, Elliot noted in the report. ” Much like we saw during the height of the pandemic with short-term bookings, properties are going to have to rely on that pattern this summer to make up the deficit they face.”
For the next six months, “on the books” lodging stats are currently down 25% from the fiscal year 2020/2021. Historically, occupancy levels are above 90%, June through Sept.
“We can look at reasons such as inflationary costs as one reason, but there could be other underlying reasons for the lack of demand or resistance to booking… ADR’s [average room rates] continue to increase overall as well, possibly having an effect on future bookings, not to mention the continued uncertainty of the economy,” Elliott said in the report.
