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12/12/24
Homeowners

Park City Vacation Rental Market Statistics: November 2024

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In the high-stakes world of vacation rentals, where every percentage point can make or break a season, November 2024 emerged as a testament to the resilience and strategic prowess of property managers navigating a complex market landscape. 📅 Date Range  11/1/2024 – 11/30/2024 vs 11/1/2023 – 11/30/2023 🔎 Key Takeaways  Seasonal Trend Election week slowed reservations as people went to the polls. Thanksgiving was the last week of November. Market...

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11/12/24
Homeowners

Park City Vacation Rental Market Statistics: October 2024

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Park City’s vacation rental market statistics shine bright in October 2024, defying shoulder season slump with impressive year-over-year growth! 📅 Date Range  10/1/2024 – 10/31/2024 vs 10/1/2023 – 10/31/2023 🔎 Key Takeaways  Seasonal Trend The weather was dry and sunny, with a beautiful fall foliage season. Occupancy demand in October drops as it’s the fall shoulder season. Market Insights: October 2024 saw an 8.13% decrease in occupancy compared to September...

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10/15/24
Homeowners

Park City Vacation Rental Market Statistics: September 2024

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The Park City Vacation Rental Statistics for September 2024 reveal a downturn in the market as the area transitioned into the fall shoulder season. Decreased traveler demand drove a notable drop in performance. 📅 Date Range  9/1/2024 – 9/30/2024 vs 9/1/2023 – 9/30/2023 🔎 Key Takeaways Seasonal Trend The average daytime temperature was 5 degrees warmer in September 2024 than the prior year, and there were only three days of...

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09/13/24
Homeowners

Park City Vacation Rental Market Review: August 2024

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In August 2024, the Park City vacation rental market experienced mixed performance. Occupancy rates slightly increased, but overall demand softened compared to the peak summer months. With families returning home for the school year, occupancy dropped from July levels. However, key metrics such as the average daily rate (ADR) and revenue per available room (RevPAR) showed year-over-year growth. These trends highlight the resilience of the Park City vacation rental market...

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08/23/24
Homeowners

Park City Vacation Rental Market Review: July 2024

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July 2024 brought a twist to the Park City vacation rental market, as scorching temperatures in the Salt Lake City valley sent weekend travelers flocking to the mountains. Despite a minor dip in occupancy, savvy property managers capitalized on the heatwave, driving up both Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR). This report delves into how these dynamics played out, providing key insights from Park City’s most...

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07/15/24
Homeowners

Park City Vacation Rental Market Review: June 2024

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As the lush landscape began to flourish in June, the Park City vacation rental market followed suit, experiencing a dramatic surge in occupancy. Despite a cooler start to the month suppressing early bookings, the market saw an impressive 174% increase in occupancy compared to May 2024. This review delves into the key metrics and trends that shaped June 2024, offering valuable insights for property managers and owners alike. Date Range:...

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06/14/24
Homeowners

Park City Vacation Rental Market Review: May 2024

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This review examines the Park City vacation rental performance for May 2024 compared to the same period in 2023. Park City, Utah, renowned for its world-class ski resorts and vibrant cultural scene, is a popular destination for tourists seeking winter sports and summer outdoor activities. Analyzing key metrics such as paid occupancy, average daily rate (ADR), and revenue per available room (RevPAR). This review provides insights into vacation rental market...

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06/12/24
Homeowners

What You Don’t Know Can Cost You: Know These 5 Vacation Rental Management Fees

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Managing a vacation rental property can be a lucrative venture, offering the promise of passive income and hosting travelers from around the world. However, this dream often has a hidden cost: vacation rental management fees.  Often buried in the fine print, these fees can significantly impact your bottom line. Whether you’re a seasoned property owner or new to the vacation rental market, vacation property owners must know these 5 vacation...

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05/17/24
Homeowners

Vacation Rental Success: 10 Must-Ask Questions for Your Vacation Property Manager

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Are you looking to turn your property into a vacation rental success?  Before you hand over the keys to your slice of paradise, make sure you’re partnering with the perfect property manager.  Like a seasoned captain navigating uncharted waters, here are ten must-ask questions for your vacation property manager to ensure smooth sailing and maximum returns on your investment. 1. Pro Forma Production Pro forma production is not just a...

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05/9/24
Homeowners

Unlock Profit Potential: 10 Game-Changing Upgrades for Vacation Homes

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Owning a vacation rental property offers numerous benefits, from providing a steady source of income to offering a personal retreat whenever needed.  However, in today’s competitive market, simply owning a rental property is not enough to attract guests and ensure profitability. Travelers’ expectations are evolving, with an increasing preference for unique, immersive experiences over traditional hotel stays.  As a result, property owners must recognize the importance of regularly updating and...

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