Hospitality – Lodging – October
How do we compare to our neighbors?
Out of state
Occupancy – 2006 - % Change 06/05
- Los Angeles-Long Beach, CA 76.2% 2.7%
- San Diego, CA 73.5% 6.2%
- Albuquerque, NM 71.5% 4.8%
- Anaheim 71.4% -5.4%
- Seattle, WA 71.3% 4.4%
- Phoenix, AZ 70.6% 1.0%
- Salt Lake County, UT 69.8% 5.9%
- Portland, OR 67.6% 2.4%
- Denver, CO 67.3% 5.7%
- San Antonio, TX 63.9% -8.5%
- Reno MSA 60.8% -5.0%
Average Room Rate – 2006 - % Change
- San Diego, CA $132.24 12.1%
- Seattle, WA $117.64 12.3%
- Los Angeles-Long Beach, CA $115.49 10.0%
- Phoenix, AZ $115.38 11.1%
- Anaheim $102.76 9.1%
- San Antonio, TX $101.61 13.1%
- Denver, CO $95.85 13.0%
- Reno MSA $91.80 3.9%
- Salt Lake County, UT $91.68 9.1%
- Portland, OR $90.32 10.9%
- Albuquerque, NM $82.00 12.5%
Revenue Per Available Room – 2006 - %
- San Diego, CA $97.20 19.1%
- Los Angeles-Long Beach, CA $87.96 12.9%
- Seattle, WA $83.89 17.2%
- Phoenix, AZ $81.47 12.3%
- Anaheim $73.35 3.2%
- San Antonio, TX $64.97 3.5%
- Denver, CO $64.47 19.3%
- Salt Lake County, UT $63.98 15.5%
- Portland, OR $61.07 13.6%
- Albuquerque, NM $58.60 17.8%
- Reno MSA $55.80 -1.3%
Source: Smith Travel Research
Room Nights Available – 2006 - % of
- DOWNTOWN & EAST SLC 147,681 28.0%
- AIRPORT & NORTH SLC 54,932 10.4%
- SOUTH VALLEY SLC 54,131 10.3%
- UTAH MOUNTAIN RESORTS 52,457 9.9%
- ST. GEORGE 45,744 8.7%
- UTAH COUNTY 43,493 8.2%
- DAVIS COUNTY 33,193 6.3%
- OTHER UTAH 23,242 4.4%
- OGDEN 23,156 4.4%
- CEDAR CITY 22,509 4.3%
- WEST VALLEY CITY 15,779 3.0%
- LOGAN 11,424 2.2%
COMBINED TOTALS 527,741 100.0%
Room Occupancy % – 2006
- LOGAN 75.5%
- DOWNTOWN & EAST SLC 74.2%
- AIRPORT & NORTH SLC 74.1%
- SOUTH VALLEY SLC 72.3%
- UTAH COUNTY 72.2%
- ST. GEORGE 70.6%
- OTHER UTAH 68.8%
- WEST VALLEY CITY 68.4%
- DAVIS COUNTY 67.6%
- OGDEN 62.5%
- CEDAR CITY 59.3%
- UTAH MOUNTAIN RESORTS 43.4%
COMBINED TOTALS 68.5%
Average Room Rate – 2006 – Revenue Per
Avail Room (REVPAR)
- DOWNTOWN & EAST SLC $101.18
- UTAH COUNTY $81.32 $58.74
- SOUTH VALLEY SLC $80.14 $57.92
- ST. GEORGE $81.29 $57.36
- AIRPORT & NORTH SLC $76.54 $56.73
- LOGAN $66.37 $50.09
- WEST VALLEY CITY $72.17 $49.34
- DAVIS COUNTY $70.67 $47.79
- UTAH MOUNTAIN RESORTS $109.95
- OGDEN $71.63 $44.77
- OTHER UTAH $64.72 $44.54
- CEDAR CITY $69.66 $41.29
COMBINED AVERAGE $85.63 $58.66
Occupancy Percentage by Month -
- AUGUST 79.6%
- MARCH 77.9%
- JUNE 75.9%
- JULY 73.2%
- SEPTEMBER 72.4%
- FEBRUARY 69.1%
- OCTOBER 68.5%
- APRIL 66.1%
- MAY 62.5%
- JANUARY 61.1%
Revenue Per Avail Room (REVPAR) by
Month - 2006
- JANUARY $84.16
- MARCH $81.25
- FEBRUARY $81.24
- AUGUST $77.17
- OCTOBER $75.28
- SEPTEMBER $74.35
- JULY $73.31
- JUNE $73.14
- APRIL $72.84
- MAY $71.29
Source: Rocky Mountain Lodging Report
How do we compare?
Who is making money?
This Weeks Leads
Tax Reciepts – First Five Months FY2007
- Sales and Use Taxes (Gen Gov’t)
- Corporate Franchise Taxes (Gen Gov’t)
- Individual Income Taxes (Education)
- Severance Taxes (Gen Gov’t) -14.4%
- Motor Fuel Taxes (Transportation) +1.3%
Source: Utah State Tax Commission, 12/13/06
- Utah's jobless rate fell to an unprecedented
last month, according to the latest data from the
Department of Workforce Services. The state's
unemployment rate fell to 2.5 percent for October,
down from 2.8 percent in September. At this time
last year, the jobless rate was 4.2 percent.
- Source: State of Utah – Workforce Services
- Utah's population estimates, released in
November, show Utah's 2006 population at
2,615,129 — an estimated growth of 2.7 percent, or
67,740 people since 2005.
- Source: Bureau of Census
- The number of building permits issued for new
houses, condominiums and apartments is falling
across Utah, but in Utah County permits are
skyrocketing. Residential permits issued across the
state from Jan. 1 through Sept. 30 fell to 20,387,
down 4.5 percent from 21,347 permits handed out
during the same nine-month period in 2005,
- Source: University of Utah's Bureau of Economic
and Business Research.
- Global Business
- Global business confidence slipped to a more than
three-year low in early December. Hiring plans have
fallen notably in the past two weeks, businesses are
cutting inventories, and even heretofore strong
equipment and software investment has turned a bit
soft. Confidence is weakest among vehicle and
transportation companies, followed closely by
residential real estate firms. Manufacturers have also
become decidedly more cautious. Sentiment is
consistent with a global economy that is growing
below its potential. The best news from the survey is
that pricing pressures are off sharply from their
- Federal Dificit
- The unified federal deficit for November was
$75.6 billion, slightly larger than the CBO's preliminary
estimate. The monthly deficit was $7.5 billion smaller
than the shortfall incurred in November 2005.
Through the first two months of the fiscal year, the
unified deficit has reached $125 billion, $5.4 billion
smaller than over the same period during
- International Trade (FT900)
- The nominal U.S. trade deficit in goods and
services narrowed by 8.4% in October. The U.S.
trade deficit came in at $58.9 billion, $5.4 billion less
than September's revised $64.3 billion, according to
the Bureau of Economic Analysis. In October, exports
increased and imports decreased. The goods deficit
with China, however, widened 5.8% to $24.4 billion.
Crude oil prices decreased in October, which in return
decreased the nation's total import bill for energy-
related petroleum products to $22.3 billion.
- The Reality of the Chinese Welcome Mat
for Foreign Banks
- China recently opened its retail banking market
for foreign banks that become incorporated in the
country. Though the new regulation provides a
promising opportunity for foreign banks in the long
term, it is unlikely to significantly alter the banking
environment in the near future.
- MBA Mortgage Applications Survey
- Mortgage demand increased 11.4% in the week
ending December 5. Purchase applications increased
8.7% and refinance applications increased
- Business Inventories (MTIS)
- Total business inventories increased 0.4% for
October, between our and consensus expectations.
Inventories at retailers were unchanged from the
previous month. Total business sales decreased by
0.2%. The total I/S ratio moved up yet again, to
- Retail Sales (MARTS)
- Total retail sales rose an unexpectedly strong
1.0% in November, following October’s upwardly
revised 0.1% decline. Surprisingly large gains
occurred in several segments, including electronics
and appliance stores, building supply stores, gasoline
stations and auto dealers. Non-auto sales rose 1.1%.
Year-over-year growth rose to 5.6% in total and
5.3% excluding autos.
- Chain Store Sales
- Chain store sales increased 1.0% in the week
ending December 9, as sales retained their common
volatile pattern during the holiday season, according
to the ICSC. Year-over-year growth increased
modestly, to 3.2%, the best growth in nearly two
- Manpower Employment Outlook
- According to the Manpower Outlook Survey,
employers in all of the 27 countries surveyed expect
to add staff in the first quarter of 2007. Hiring
intentions eased in the U.S., however, with the net
employment outlook indicating that 12% (not
seasonally adjusted) of employers expect to increase
hiring, compared to 20% in the previous stanza. In
the Asia Pacific, hiring activity remains solid but has
also eased moderately since the last quarter. In the
euro area, positive hiring activity is expected, with
many countries—including Germany and Spain among
others—reporting their most optimistic employment
outlooks since the survey began.
- Weekly Natural Gas Storage Report
- Underground storage of natural gas decreased by
168 billion cubic feet during the week ending
December 8. This was more than the expected draw
of 153 Bcf from storage. Inventories are now 7.5%
above the five-year average. This report is likely to
add some bullish pressure to prices.
- Oil and Gas Inventories
- Crude inventories fell a massive 4.3 million barrels
during the week ending December 8 according to the
Energy Information Administration. Distillate
inventories inched lower by 0.5 million barrels.
Gasoline stocks dropped a scant 0.1 million barrels.
This report will set a slightly bullish tone in markets
|This Weeks Leads:
- Ben & Jerry’s Ice Cream
- Unilever Corp. trades as Ben & Jerry’s Ice Cream
at 650 locations nationwide and internationally.
- The stores, which offer ice cream, frozen yogurt,
desserts and sorbets, occupy spaces of 600 sq.ft. to
1,200 sq.ft. in malls, urban/downtown areas and
power and tourist centers.
- Growth opportunities
area sought nationwide and internationally during the
coming 18 months.
- Typical leases run 10 years
with options. A vanilla shell is required.
- For more information, contact
- Unilever Corp.,
- 30 Community Drive,
- South Burlington, VT 05403;
- Fax 802-846-1538;
- Web site:
- Kitchen Collection & Le Gourmet Chef
- The Kitchen Collection, Inc. trades as Kitchen
Collection at 200 locations nationwide.
- The stores, offering appliances, cookware and
decorative items for the kitchen, occupy spaces of
3,100 sq.ft. to 6,000 sq.ft. in outlet centers.
- Growth opportunities are sought nationwide
during the coming 18 months. Typical leases run five
years. A vanilla shell and specific improvements are
- The company also trades as Le Gourmet Chef at
77 locations nationwide.
- The stores, offering a
variety of house wares and gourmet foods for the
occupy spaces of 3,000 sq.ft. to 3,500 sq.ft. in
regional malls. Growth opportunities are sought
nationwide during the coming 18 months.
- For more information, contact
- The Kitchen Collection, Inc.,
- 71 East
- Chillicothe, OH 45601;
- Fax 740-774-0596;
- Web site:
- Equinox Fitness Clubs
- Equinox Holdings, Inc. trades as Equinox Fitness
Clubs. The 36-unit chain operates locations
throughout CA, CT, FL, IL and NY.
- The fitness centers occupy spaces of 25,000
sq.ft. to 40,000 sq.ft. in
freestanding locations, entertainment, mixed-use,
power and specialty centers and urban/downtown
- Plans call for six to nine openings throughout
San Diego, San Francisco, Los Angeles and Orange
County, CA; Southern, FL; Boston, MA;
Northern, NJ; New York, NY; Dallas, TX and
Washington, DC during the coming 18 months.
- Typical leases run 15 years with options. A vanilla
shell and specific improvements are required.
- Preferred demographics include a population of
70,000 within three miles earning $125,000 as the
average household income.
- Preferred cotenants include upscale supermarkets.
- For details, contact:
- Greg Covey
- Equinox Holdings, Inc.
- 895 Broadway
- New York, NY 10003
- 212-774-6386, Fax 212-780-9806
- Email: email@example.com
- Web site: www.equinoxfitness.com
- Nine West, Enzo, Easy Spirit and
- Nine West Group, Inc. trades as Nine West, Enzo,
Easy Spirit and Bandolino.
- The 1,000-unit chain operates locations
- The shoe stores occupy spaces of 1,500 sq.ft. to
3,000 sq.ft. in malls, strip, specialty and outlet
centers and in urban downtown areas.
- Growth opportunities are sought throughout the
existing market during the coming 18 months.
- For details, contact:
- Michael Sadi
- Nine West Group, Inc.
- 1129 Westchester Avenue
- White Plains, NY 10604
- 914-640-6400, Fax 914-645-5521
- Email: firstname.lastname@example.org
- Web site: www.ninewest.com
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