Jackson Hole Economic Forecasting

July 2024 Forecast

Occupancy Rate (OR)

Occupancy Rate (OR) chart

Table 1: Forecast of Monthly Occupancy Rate
 
Date Occupancy Rate Forecast Lower CI Bound Upper CI Bound
Aug-2024 82.39% 81.48% 83.27%
Sep-2024 81.44% 77.82% 84.58%
Oct-2024 47.39% 44.26% 50.55%
Nov-2024 22.92% 19.44% 26.80%
Dec-2024 43.19% 38.05% 48.47%
Jan-2025 58.41% 53.06% 63.57%

Average Daily Rate (ADR)

Average Daily Rate (ADR) chart

Table 2: Forecast of Monthly Average Daily Rate
 
Date Average Daily Rate Forecast Lower CI Bound Upper CI Bound
Aug-2024 $508.59 $486.82 $530.36
Sep-2024 $399.83 $377.27 $422.39
Oct-2024 $303.76 $280.75 $326.77
Nov-2024 $256.08 $227.60 $284.56
Dec-2024 $562.70 $527.14 $598.26
Jan-2025 $592.88 $554.78 $630.98

Revenue per Available Room (RevPAR)

Revenue per Available Room (RevPAR) chart

Table 3: Forecast of Monthly RevPAR
 
Date RevPAR Forecast Lower CI Bound Upper CI Bound
Aug-2024 $419.04 $396.65 $441.64
Sep-2024 $325.61 $293.57 $357.27
Oct-2024 $143.97 $124.26 $165.18
Nov-2024 $58.68 $44.25 $76.26
Dec-2024 $243.01 $200.58 $290.01
Jan-2025 $346.30 $294.37 $401.10

Tax Revenues

Tax revenues chart

Table 4: Forecast County (2%) Lodging Tax Revenue
 
Date Tax Revenue Forecast Lower CI Bound Upper CI Bound
Aug-2024 $1,369,829 $1,183,085 $1,586,049
Sep-2024 $1,545,572 $1,320,444 $1,809,083
Oct-2024 $1,536,634 $1,277,084 $1,859,455
Nov-2024 $1,326,529 $1,091,690 $1,627,603
Dec-2024 $586,488 $515,061 $668,813
Jan-2025 $242,904 $191,797 $302,846
Feb-2025 $673,647 $564,379 $809,017
Mar-2025 $943,429 $778,910 $1,155,397

Forecast State (3%) Lodging Tax Revenue

Table 5: Forecast State (3%) Lodging Tax Revenue
 
Date Tax Revenue Forecast Lower CI Bound Upper CI Bound
Aug-2024 $2,283,048 $1,971,808 $2,643,415
Sep-2024 $2,575,953 $2,200,740 $3,015,138
Oct-2024 $2,561,056 $2,128,474 $3,099,091
Nov-2024 $2,210,882 $1,819,484 $2,712,672
Dec-2024 $977,479 $858,435 $1,114,688
Jan-2025 $404,840 $319,661 $504,743
Feb-2025 $1,122,745 $940,632 $1,348,362
Mar-2025 $1,572,381 $1,298,183 $1,925,662

Forecast of Monthly Total (5%) Lodging Tax Revenue

Table 6: Forecast of Monthly Total (5%) Lodging Tax Revenue
 
Date Tax Revenue Forecast Lower CI Bound Upper CI Bound
Aug-2024 $3,652,876 $3,154,892 $4,229,464
Sep-2024 $4,121,525 $3,521,184 $4,824,221
Oct-2024 $4,097,690 $3,405,558 $4,958,546
Nov-2024 $3,537,412 $2,911,174 $4,340,275
Dec-2024 $1,563,967 $1,373,495 $1,783,501
Jan-2025 $647,744 $511,458 $807,589
Feb-2025 $1,796,391 $1,505,011 $2,157,379
Mar-2025 $2,515,810 $2,077,093 $3,081,059

Lodging Sector Sales

Forecast of Monthly Lodging Sales chart

Table 7: Forecast of Monthly Lodging Sales
 
Date Lodging Sales Forecast Lower CI Bound Upper CI Bound
Aug-2024 $76,831,683 $63,854,208 $92,972,730
Sep-2024 $66,326,471 $54,584,516 $81,380,149
Oct-2024 $29,324,385 $25,753,037 $33,440,641
Nov-2024 $12,145,202 $9,589,834 $15,142,293
Dec-2024 $33,682,338 $28,218,961 $40,450,861
Jan-2025 $47,171,437 $38,945,500 $57,769,856

Economic Indicators

Table 8: Six-Month Forecast of Economic Output from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate $251,697,707 $54,315,179 $13,668,965 $319,681,850
Median Estimate $301,547,334 $65,072,497 $16,376,163 $382,995,994
High Estimate $363,401,449 $78,420,336 $19,735,293 $461,557,079
Table 9: Six-Month Forecast of Employee Compensation from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate $81,407,912 $18,300,756 $3,770,727 $103,479,395
Median Estimate $97,531,039 $21,925,287 $4,517,536 $123,973,862
High Estimate $117,536,841 $26,422,658 $5,444,187 $149,403,686
Table 10: Six-Month Forecast of Contribution to Gross County Product from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate $182,089,548 $31,921,433 $8,246,042 $222,257,023
Median Estimate $218,153,032 $38,243,588 $9,879,207 $266,275,827
High Estimate $262,901,107 $46,088,212 $11,905,660 $320,894,980
Table 11: Six-Month Forecast of Employment from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate 3,198 514 142 3,854
Median Estimate 3,831 615 171 4,617
High Estimate 4,617 741 206 5,564