Jackson Hole Lodging boom – 2005 News and Economy update
Retail and Wholesale sales in January of 2005 is up 11% higher in Teton County over the same period last year. This further reflects the steady growth of the local economy due to the increase in new Jackson Hole Luxury Hotels coming into the area to boost the taxable sales. The Wyoming Department of Revenue and Taxation statistics reveal that the current levels of taxable sales have hit an all-time record. Jackson Restaurants and Bars in Jackson Hole account for about 100 million of the yearly taxable income.
The largest increase in the economy was notably seen in the tremendous boom in room sales at Jackson Hole Lodging businesses. Luxury Hotel Resorts are reporting a significant increase in room sales revenue in the first quarter of 2005 over the same period last year. This is a result of the recent trend of new visitors coming into the area as reported in the local Realty News. An increasing number of wealthy individuals continue to buy luxury homes in Jackson Hole and place them in rental pools of various property management companies in the area. The owners and tenants of these magnificent rental properties spend a considerable amount of money in the local economy. These folks do not bargain hunt when they go into the local art galleries and high-end gift stores and they tend to spend excessive amounts of cash to boost all sales in the area.
Many of the Luxury Three-bedroom Rental Homes are found in the Granite Ridge Cabins. The Four-bedroom Rental Town homes and Condominiums are also luxury accommodations located in the Moose Creek Condominiums Area. Teton Village Real Estate has seen another significant increase of sales as the ski resort becomes more and more popular among mountain enthusiasts around the world. This new and vibrant sector of the economy has increased well over 30% from last year at this time.
The Jackson Hole Lifestyle is becoming more and more popular according to the Realty News. As the economy in the country as a whole expands, there is always a sharp increase in total taxable income generated in Teton County. The outlook seems to point toward further increases in 2005.
