WORTH logo with outdoor recreation images

Jackson Hole Economic Forecasting

May 2024 Forecast

Occupancy Rate (OR)

Occupancy Rate (OR)

Table 1: Forecast of Monthly Occupancy Rate
 
Date Occupancy Rate Forecast Lower CI Bound Upper CI Bound
May-2024 57.25% 54.98% 59.48%
Jun-2024 78.22% 76.63% 79.73%
Jul-2024 78.25% 76.27% 80.11%
Aug-2024 78.26% 74.48% 81.62%
Sep-2024 75.87% 70.20% 80.76%
Oct-2024 38.70% 35.66% 41.84%

Average Daily Rate (ADR)

Average Daily Rate (ADR)

Table 2: Forecast of Monthly Average Daily Rate
 
Date Average Daily Rate Forecast Lower CI Bound Upper CI Bound
May-2024 $330.56 $316.51 $344.61
Jun-2024 $484.59 $465.24 $503.93
Jul-2024 $541.29 $507.53 $575.04
Aug-2024 $529.10 $504.12 $554.09
Sep-2024 $445.67 $411.13 $480.21
Oct-2024 $325.02 $299.74 $350.30

Revenue per Available Room (RevPAR)

Revenue per Available Room (RevPAR)

Table 3: Forecast of Monthly RevPAR
 
Date RevPAR Forecast Lower CI Bound Upper CI Bound
May-2024 $189.24 $174.02 $204.99
Jun-2024 $379.03 $356.50 $401.77
Jul-2024 $423.56 $387.08 $460.68
Aug-2024 $414.07 $375.44 $452.24
Sep-2024 $338.15 $288.61 $387.84
Oct-2024 $125.79 $106.89 $146.55

Tax Revenues

Tax Revenues

Table 4: Forecast County (2%) Lodging Tax Revenue
 
Date Tax Revenue Forecast Lower CI Bound Upper CI Bound
May-2024 $1,002,704 $918,103 $1,095,102
Jun-2024 $282,903 $252,130 $317,431
Jul-2024 $761,568 $661,838 $876,852
Aug-2024 $1,469,191 $1,273,074 $1,702,722
Sep-2024 $1,599,373 $1,364,052 $1,886,330
Oct-2024 $1,659,865 $1,397,390 $1,986,130
Nov-2024 $1,469,811 $1,193,977 $1,829,511
Dec-2024 $611,503 $514,257 $725,402

Tax Revenues - chart 2

Table 5: Forecast State (3%) Lodging Tax Revenue
 
Date Tax Revenue Forecast Lower CI Bound Upper CI Bound
May-2024 $1,671,174 $1,530,171 $1,825,170
Jun-2024 $471,505 $420,217 $529,052
Jul-2024 $1,269,280 $1,103,063 $1,461,420
Aug-2024 $2,448,652 $2,121,790 $2,837,870
Sep-2024 $2,665,622 $2,273,419 $3,143,883
Oct-2024 $2,766,442 $2,328,983 $3,310,217
Nov-2024 $2,449,685 $1,989,962 $3,049,185
Dec-2024 $1,019,171 $857,095 $1,209,003

Tax Revenues - chart 3

Table 6: Forecast of Monthly Total (5%) Lodging Tax Revenue
 
Date Tax Revenue Forecast Lower CI Bound Upper CI Bound
May-2024 $2,673,878 $2,448,273 $2,920,272
Jun-2024 $754,408 $672,347 $846,484
Jul-2024 $2,030,847 $1,764,900 $2,338,272
Aug-2024 $3,917,843 $3,394,864 $4,540,592
Sep-2024 $4,264,995 $3,637,471 $5,030,212
Oct-2024 $4,426,307 $3,726,373 $5,296,347
Nov-2024 $3,919,495 $3,183,939 $4,878,696
Dec-2024 $1,630,674 $1,371,353 $1,934,405

Lodging Sector Sales

Lodging Sector Sales

Table 7: Forecast of Monthly Lodging Sales
 
Date Lodging Sales Forecast Lower CI Bound Upper CI Bound
May-2024 $38,078,385 $33,091,879 $43,842,604
Jun-2024 $73,459,551 $63,653,695 $85,136,106
Jul-2024 $79,968,650 $68,202,582 $94,316,482
Aug-2024 $82,993,252 $69,869,493 $99,306,498
Sep-2024 $73,490,538 $59,698,859 $91,475,550
Oct-2024 $30,575,143 $25,712,864 $36,270,087

Economic Indicators

Table 8: Six-Month Forecast of Economic Output from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate $315,293,367 $67,637,491 $16,953,096 $399,883,953
Median Estimate $370,928,581 $79,572,493 $19,944,569 $470,445,643
High Estimate $439,560,238 $94,295,535 $23,634,858 $557,490,631
Table 9: Six-Month Forecast of Employee Compensation from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate $101,976,991 $22,820,537 $4,641,706 $129,439,234
Median Estimate $119,971,380 $26,847,345 $5,460,762 $152,279,488
High Estimate $142,169,278 $31,814,822 $6,471,152 $180,455,253
Table 10: Six-Month Forecast of Contribution to Gross County Product from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate $228,097,536 $39,792,526 $10,220,450 $278,110,513
Median Estimate $268,346,576 $46,814,133 $12,023,909 $327,184,618
High Estimate $317,997,833 $55,476,002 $14,248,659 $387,722,494
Table 11: Six-Month Forecast of Employment from Lodging Sales
 
Estimate Direct Indirect Induced Total
Low Estimate 4,006 640 175 4,822
Median Estimate 4,713 753 206 5,673
High Estimate 5,585 893 245 6,722
 
 
 
 
 
 






Find us on Instagram (Link opens a new window)Find us on Facebook (Link opens a new window)Find us on Twitter (Link opens a new window)Find us on LinkedIn (Link opens a new window)Find us on YouTube (Link opens a new window)