Yesterday on KPCW, Ski Utah (a group representing our ski resorts) was talking about the season with Leslie Thatcher. They were talking snow. The point Ski Utah made was that SNOW is the key to booking visitors at our resorts. I’m sure, in some ways, that’s true. If the snow isn’t flying, neither are the people.
Yet, equally as important is the stock market. If retirement accounts are tapped… if people perceive their wealth is decreasing… if the stock market is down… people may disregard their feeling about snow and care more about their financial condition.
It’s not something we have really seen since the financial crisis. With the market down a good 3% in the first few days of the year, it should be interesting to watch. A three percent decline is really nothing in the scheme of things… but if the decline accelerates, locals may get their wish.
More fresh tracks in February isn’t a bad thing for most people.