Like Aspen, Snowmass sees record July for retail sales
September 9, 2013
Just like its other half upvalley, Snowmass Village retail enjoyed a record month in July.
Collections from the town's 1 percent sales tax totaled $86,346.04, the most reported for the month in the past 10 years, according to data from the town Finance Department. That represents a 13.5 percent increase from the same month last year.
Aspen also had a record month for retail in July. Bill Tomcich, president of reservations agency Stay Aspen Snowmass, told The Aspen Times that he thinks the higher number of visitors in Snowmass were one reason the city enjoyed extra success.
According to a report in August, occupancy in July was 49.2 percent, a 21.7 percent increase from the same month in 2012. Snowmass Village's tax revenues reflected that boost: The lodging sector's sales tax revenue increased by 23.5 percent, and collections for the separate lodging tax rose 23.9 percent.
That bump is largely the result of the fact that the Westin and Wildwood hotels are open this year after closing for renovation last summer and fall, according to Tomcich.
"But Snowmass' July is still commendable, as it was actually the busiest July Snowmass Village has (had) since 2007," Tomcich said in August.
Recommended Stories For You
Lodging was the biggest contributor to sales tax revenues in July, accounting for 35 percent of collections.
The sales tax report breaks revenue down by industry categories. Other sectors that saw increases were food, drug and liquor stores, 38.7 percent; sports equipment and clothing, 23.8 percent; and restaurants, 23.5 percent. Categories that saw decreases were utilities, 6.12 percent; general retail, 21.6 percent; and the miscellaneous division, 87 percent. There were no tax collections in the special-events category in July.
Sales tax collections for the summer are pacing 11.5 percent ahead of last year's. Revenue for the year to date is 13.5 percent ahead of 2012.