Teton Mountain Lodge Newsletter 2017 | Quarter 2

TETON

VIEW NEWSLETTER 2017 | QUARTER 2

tetonlodge.com | 855.318.6669 | 3385 Cody Lane, Teton Village, WY 83025

JACKSON HOLE

SPRING Spring has proved that you just never know what to expect when it comes to Mother Nature. April was off to a warm start and then the snow came back the last week of the month. Needless to say, I think the great majority of Jacksonites were not happy that week.

May came in with some inconsistent Jackson weather but it seemed to sit well with most of us. Then June came in with some sun, then rain and more sun. The warm days plus the rain and enormous snow pack made for some high water in Jackson. The Gros Ventre River was so large this season that it ended up collapsing part of the road that leads to Kelly. The road was closed for about a month and only recently opened one lane to traffic. That river also took its toll on the small bridge on Spring Gulch Road. That road remains closed and there is not an estimate on when it will reopen.

The great news is that high water lends itself to a great summer season. Visitors have been enjoying the white water and fisherman will enjoy the streamflow once the water clears. An interesting fact; as much as 75 percent of water supplies in the western states are derived from snowmelt. It looks like the mountain ranges in the area are supplying quite a bit this year. This is the first year in a long while that the Palisades Reservoir has been at 100%. Hopefully all this water lends to a fire-free summer season that we can all enjoy.

Teton Mountain Lodge Newsletter 2017 | Quarter 2

2

SALES

QUARTER TWO Q2 shaped up nicely in terms of rentals. As we know, we get a bit of a reprieve in April as the majority of the valley takes a much needed break and the hotel closes. The parks opened up in May and the tourists started coming in. Our group base for May into the beginning of June was not as strong compared to last year. In 2016, Google bought out the entire hotel at the end of May and flowed into June.

So year over year, we saw a decline in group but this is something that we anticipated. The upside is that our leisure numbers were up from last year by 21% in May and June. Overall, total revenue for May and June increased by 2%.

A busy spring is leading in to an incredibly busy summer. Right now, July and August are looking extremely strong with good pick up week after week. We have almost already exceeded last year’s actuals and there is still quite a bit more time to get guests here. The solar eclipse is obviously the highlight of the summer and we are expecting record numbers of people in the valley to view this once in a lifetime event.

Needless to say, we expect to hit high marks bearing no other curve balls from Mother Nature!

During the spring closure we were able to complete some significant projects that we are happy to share with you. The exterior painting was completed and that was definitely a feat! If you have not had the chance to watch scaffolding be put up and taken down, I can tell you that it is quite the achievement.

There were also seven units that received the new tile flooring that replaced the aging hardwood. They look absolutely amazing and we hope you agree. Another five to seven units will be selected to receive new flooring this fall when the hotel is closed. Please make sure to keep that on your radar, as your unit may need this replacement.

During the fall closure you can expect to see large changes to the hotel. Tyler and Rob have been working together on replacing the entry and garden level doors. Those two projects should lend to a much nicer arrival experience for owners and guests.

You can also expect to see the final phase of the in-unit carpet replacement completed this fall. There are exciting things happening in the hotel and are eager to share them with you.

FROM

CORIE & ANNE Just a reminder that the annual meeting changed this year to be a bit later than normal due to the group buyout. The meeting will be held on Friday, February 2, 2018. If you have not made your reservation to stay during that time, please email/call Anne or myself to secure your unit.

Have a fantastic summer and we hope you can come enjoy a few days of it in Jackson!

3

tetonlodge.com | 855.318.6669 | 3385 Cody Lane, Teton Village, WY 83025