For the week of March 27 - April 2, 2002

Sun Valley LOT revenues down

Retail takes the biggest hit

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By PETER BOLTZ
Express Staff Writer

Sun Valley local option tax revenues plunged 22 percent in January 2002, compared to January 2001.

Receipt totals were $102,820 last year and $79,918 this year.

Of the lodging, retail and liquor receipts that make up the total, retail fell the hardest, 52 percent.

Retail revenues were $38,372 in January 2001 and $18,443 in January 2002.

Sun Valley City Administrator Dan Pincetich told the council at its Feb. 28 meeting that he expected a drop in the retail revenues because Elkhorn Resort was not operating at last year’s levels.

Two restaurants at the resort, River Rock and Tequila Joes, were not open this winter.

John Martin, vice president of operations for Elkhorn’s new owner, Chesapeake Hotel Group, said that the resort was looking for more convention and lodging business, but that the marketing plan was not as aggressive as in the past.

"But we are not shut down," he said.

January lodging revenues were down 6 percent from last year: $53,442 this year and $56,863 last year. Liquor revenues were up 6 percent: $8,033 this year and $7,585 last year.

So far this year, Sun Valley’s local option tax revenues are down 15 percent compared to last year.

 

The Idaho Mountain Express is distributed free to residents and guests throughout the Sun Valley, Idaho resort area community. Subscribers to the Idaho Mountain Express will read these stories and others in this week's issue.