Park City closed November with the lodging numbers up 5% and a 15% rise in average daily rates, to nearly $340 a night.
December has bettered that. According to Jennifer Wesselhoff, the CEO of the Park City Chamber of Commerce and Visitors Bureau, December lodging numbers are already up 4% from a year ago and a slight rise in the ADR – or Average Daily Rate - raised the nightly room charge up to $870 a night.
“When we think about the value of that winter visitor,” she said, “that value of that ski visitor, it's so significantly higher, which is why a lot of our businesses will tell us that in these 150 days of ski season, many of them make 60 to 70% of all of their revenue during that time. So, this time of year, is really important for us.”
And looking ahead, she said, January and February should be strong.
“January went up 4% ahead of pace,” she said. “February, we have this interesting spike, so it'll be interesting to see how that levels out as we get closer to February. But right now, February pace is ahead about 20% compared to where we were this time last year. So, the end of the season, you know that February, March time frame right now paces ahead 13% that that end of season, that spring season, is looking strong for us, which is really exciting.”
But there is some softening. Wesselhoff reports that the annual tax collections, while still up for the year, have dropped a few points in the last few months.
“You'll see that local sales taxes were down for September 3%; restaurant taxes were down about 6%,” she said. “TRT [Transient Room Tax] was down about 9% and recreation arts and parks (RAP) taxes were down, also about 5%,” she said. “When we look at those year-to-date numbers, which is basically all of January 2024 through November, we're seeing local sales taxes right now are up 2%; restaurant taxes are up 4%; TRT up 4% and recreation, arts and parks are up 3% so we are seeing some of that leveling It's growth, which is good, but it's very stable growth between two to 4%.”
Coming up is Happy Hour with the CEO on Thursday, Jan. 16 from 3:30 to 5 p.m. at the Chamber offices in Prospector. Wesselhoff said it’s a great opportunity for business members and nonmembers and residents to come learn more or talk about their concerns or how to improve their experience as a resident or business in Park City.
