Aspen winter occupancy trends up despite economic, political uncertainty

Aspen could see higher hotel and lodging occupancy despite political and economic uncertainty that some experts said earlier this year has kept many travelers home. 

Aspen hotel and lodging occupancy is pacing 9% higher over the winter months than last year, according to DestiMetrics data released by the Aspen Chamber Resort Association on Sept. 30. ACRA Vice President of Destination Marketing Eliza Voss chalked up the trend to Aspen’s allure to luxury travelers, whom she said in a Monday Aspen City Council meeting are continuing to travel despite national uncertainties. 

“So Aspen as a destination is sort of strategically positioned to continue to benefit from that luxury travel experience,” Voss told council. 

According to a survey on consumer confidence by the University of Michigan, consumer confidence recently fell 1.5%, from 55.1% in September to 53.6% in October. October’s tally on consumer confidence is nearly 17% lower than consumer confidence in October 2024, which stood at 70.5%.

In times of past economic difficulty, data shows the top 20% of earners would increase or quickly rebound their discretionary spending habits — their spending on non-essential items, such as travel-related purchases — while the bottom 20% of earners would reduce their discretionary spending, according to data from Oxford Economics and Haver Analytics.

During the Great Recession, the bottom 20% of earners’ discretionary spending dropped from about 44% to about 43%, while the top 20% or earners’ discretionary spending increased from about 58% to just under 59%. 

While discretionary spending in both groups plummeted during the COVID-19 pandemic, the bottom 20% of earners maintained a lower level of discretionary spending in the years following the pandemic, while the top 20% of earners increased their discretionary expenditures to surpass pre-pandemic levels — all of which supports Voss’ assertion that luxury travelers will continue to visit Aspen despite economic uncertainty. 

Though Aspen’s winter occupancy levels are pacing higher than last year, Snowmass’ occupancy levels are seeing a 13% downswing. Voss speculated that Snowmass might in typical years benefit more in the winter than Aspen from international markets. Snowmass Tourism Director Julia Theisen told The Aspen Times earlier this week that international travelers could be less inclined to visit due to their perception of the United States under the current administration.

Theisen said Snowmass’ primary international markets are typically Brazil and Mexico, while Voss said Aspen’s primary international markets are typically Australia, Mexico, the United Kingdom, and Canada.

In Monday’s Aspen City Council meeting, she classified Aspen’s 9% upswing in winter occupancy pacing as “a relief, as we were concerned about what that could look like given our reliability on international travels during the winter season.”

Skyler Stark-Ragsdale can be reached at 970-429-9152 or email him at sstark-ragsdale@aspentimes.com.