I’ve got both anecdotal evidence and some relatively hard data that show the economy is hitting Aspen much harder than the powers that be might have you think.
The anecdote first.
I went into a terrific Aspen restaurant for the first time about ten days ago and the owner said: “We haven’t served a dinner in three days.” The owner was performing all the chores in the restaurant–no bus boys, no waiters or waitresses were to be seen. And it was a good restaurant, a VERY good restaurant. We were a party of four and we got his full attention.
Now the data.
Can you guess the occupancy rate of the major hotels in Aspen last Week? Seventy percent? Fifty?
Guess again: I have it on good authority that Aspen occupancy rates were 17 percent last week. Seventeen percent for the big hotesl is not a disaster for Aspen–it’s a catastrophe.
Aspen Skiing Company said rather comfortably that they expected to be down this year but not to badly. If they’re off ten percent or less it will be a miracle and they should all go in the Ski Hall of Fame. If not it’s just more evidence that not only is Aspen NOT recession-proof, but that the town has fallen into a black hole unforseeable during the good times.
During the last mayoral campaign, Mick Ireland said on my last “Con Games” radio show he wanted the economy to slow down.
Be careful what you wish for, Mr. Mayor.
I hear you, Michael. Another case in point… you been skiing lately? Am I the only one who has noticed how few people are on the hill?
In my line of work.. I have property management firms, some hotels, restaurants, etc. I have relationships with my clients, and I talk to them regularly. Property management companies tell me that their occupancy rates are way, way down. And I know… cuz I have yet to perform work at a single one of their properties since before the Thanksgiving rush.
Restaurants? Forget it. Everyone of them is cutting costs.
Hotels?… I’ve had occupancy rates told to me first hand from G.M’s. Their numbers are way down since Thanksgiving. I know of one (unnamed hotel) that literally shut down for a month!
And my (local) residential clients? — they all started cutting back early last year when paying record high gas prices and considerably higher grocery prices, etc.
I call them on the phone, looking for work. Everyone is cutting back. Most everyone says, “we are gonna try and hold off until Spring or next Summer.” Oouch!
And my out of state homeowners?… They are not visiting as often. How do I know?.. cuz I’ve been in business here approaching 10 years, and historically, almost always… I get a call a few weeks before they arrive here, scheduling my company to come in and get things ready for their arrival. — or at the very least, they call the property management company, who then calls me. Neither of these scenarios are happening anymore.
Honestly, and I hate to say it… but, I’m preparing to leave. I’m either going back to school for an even more advanced degree or I’m going back to my former career.
Aspen/Snowmass was good when it was good. When its bad, its virtually impossible for a hard workin’, educated, blue-collar lover of everything these mountains offer me kind of man to continue to make it.
Bring on the billionaires!
I’m not sticking around to mess with them anymore. I miss the way Aspen used to be, a very hip, cool mountain town…where hippies and cowboys and rich and middle-class could all play together.
Best wishes.
It seems plenty of folks are leaving Aspen for more reasons than the economy. I was wonderfully surprised when I met two co-workers in Newport, Oregon who used to live in Basalt and Glenwood. There must be some kind of migration going on here. What are the odds of three former Roaring Fork Valley residents all ending up working for the same city 1100 miles away from Aspen?
[three former Roaring Fork Valley residents all ending up working for the same city ]
I should say working for the same employer, as we are all employed by the City of Newport.
Yeppers, headed out the door for interviews/consults rest of the week in Denver and Denver Tech Center. Sheesh, after 9 years, I wonder if my suits are still wearable. Hmm.
I’m going back to my former career of financial services/investments marketing and sales management. Seems to me that the only recession proof businesses now are the aforementioned and the military. Too old to go back to the military… but still driven enough to go make some money again. Be cool, stay cool… anyone wanna buy a nice 5 br 3 ba home in carbondale? Lemme know.
– J
The best of luck to you, B. Jon! At least you’ll still be close enough to visit the valley frequently.
Choosing a job path that is pretty certain to be around during bad times is a good move for you. I’m back in my old career choice as well; always a job in the cop shop. Never a lack of bad guys and crooks to deal with in my line of work.