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Vail Chamber News: Comparing resorts

Lourdes FerzaccaVail CO, Colorado
Special to the DailyLourdes Ferzacca is president of the Vail Chamber & Business Association board of directors.
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VAIL, Colorado For many years, the Vail Chamber & Business Association has been working with town of Vail officials to provide same business comparisons on their sales tax reports. Recently, the chamber, the Vail Economic Advisory Council and Town Council members agreed to move forward with this idea and asked businesses to participate in this program. This report will help compile statistics to better reflect sales in the town of Vail. There have been sales tax comparisons before, but there never has been a compilation that truly can analyze business trends in Vail on a monthly basis. This new sales tax comparison will be very similar in theory to the Dow Jones index, which has chosen 30 companies and averaged their values together by following a specific formula. What these averages tell you is the general health of stock prices as a whole. In the case of Vail, it will be an indicator of how well the economy is doing by type of business. Based on the previous system, the comparisons of 2007 and 2008 would be essentially meaningless due to the fact that constant redevelopment in the town can skew the numbers. A specific example would be the redevelopment in Lionshead and the Arrabelle. Since the Arrabelle businesses have opened, there has been a significant increase in retail businesses, which makes it difficult to compare the sales tax data. Up until now, we have not compared apples to apples. In order to get this process started, the town has asked for the cooperation of various businesses that wish to participate by allowing their specific sales and tax figures to be used. While the sales and tax collections of these businesses will be used in these calculations, figures representing their individual businesses will not be released.The new same business comparison reports will be available through the town finance department on a monthly basis, and this report will compare the various categories month by month, beginning by comparing November 2007 to November 2008 and continuing for subsequent months. This information will become a permanent part of the monthly sales tax reports, which are available by contacting the town of Vail or the Vail Chamber. The following businesses have agreed to participate in this very important addition to the Vail Business Review.In Vail Village: Gorsuch, The Golden Bear, Laughing Monkey, Roxy, American Ski Exchange, Colorado Footwear, Sweet Basil, Blus, Russells, The Red Lion, Vendettas, La Tour, Vail Mountain Lodge, Mountain Haus, Sonnenalp, Lodge at Vail, Austria Haus and Hotel Gasthof Gramshammer. In Lionshead: Vail T-Shirt Co., LionsHead Jewelers, Double Diamond, Vail Ski/Bike Tech, Swedish Clog Cabin, Charlies T-Shirts, Billys Island Grill, Bart & Yetis, Montauk, Les Delices de France, Garfinkels, Moes BBQ, Vail Marriott Mountain Resort, Antlers, Lion Square Lodge, Lifthouse and Destination Resorts.Thanks to all of you!Lourdes Ferzacca is president of the Vail Chamber & Business Association board of directors.


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