Business briefs, April 23-26
Resort towns cap strong ski season
Spurred by strong snowfall in March and stable economic indicators, resort towns in the West were poised to cap the 2015-2016 ski season with a strong finish. According to a press release from DestiMetrics, a company that tracks resort performance in mountain destinations, including Park City, occupancy numbers were up 4.3 percent for the season after the inclusion of March’s numbers, while revenues were up 5 percent compared to the previous season. Ralf Garrison, director of DestiMetrics, said in the release that strong snowfall throughout the West played a big part in the success: "The upside is a longer season, positive economic contribution, and good ‘snow equity’ to jump-start early season pass sales and generate excitement about next season’s prospects."
Consumer Price Index sees a bump
The Zions Bank Wasatch Front Consumer Price Index increased 0.4 percent in March over February and 2.2 percent since the same time last year, which is nearly in line with the Federal Reserve’s 2 percent national inflation target. According to a press release, the increasing cost of transportation — and of a gallon of gas, in particular — was behind much of the rise. The price of clothing also rose. "Short-term price jumps for necessities such as clothing may present a reason for pause for some consumers," said Scott Anderson, Zions Bank’s president and CEO, in the release. "But long-term inflation has been both gradual and broadly dispersed across several categories, suggesting that the economy is in fact continuing to stabilize and grow."
Resident earns prestigious honor
Park City resident Carl Laurella, a financial adviser at Merrill Lynch, has been nationally recognized as a top adviser by Barron’s magazine in its annual list of America’s top 1,200 advisers. According to a press release, Laurella was one of only six Utahns granted the honor.
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