What is Telluride's hotel occupancy rate for February 2–16, 2024?

Telluride's total destination occupancy for February 2–16 stands at 61%, representing a 4% decline compared to the same period in 2023. However, the upcoming weekend is pacing ahead year-over-year, and occupancy is expected to recover after a brief dip on February 4.

How much have Telluride hotel rates increased compared to last year?

The Average Daily Rate (ADR) in Telluride has increased 7% year-over-year, reaching $816 for the February 2–8 period. This positive pricing trend reflects strong demand and underscores the continued desirability of Telluride as a luxury destination.

What are the occupancy predictions for Presidents' Day week 2024?

Presidents' Day week is currently pacing 12% behind last year at 62% occupancy, compared to 70% in 2023. Despite lower occupancy, the Average Daily Rate remains 7% higher year-over-year, showing resilience in pricing power.

Which new airline routes are coming to Telluride this summer?

Historic routes from Houston and Chicago are starting earlier, and Southwest will begin flying from Dallas-Love Field alongside Denver service. Additional flight additions are anticipated in the coming months, expanding accessibility to Telluride.

Why is April showing such strong booking momentum for Telluride?

April occupancy is pacing 98% ahead of last year, primarily because Telluride's ski resort is staying open through April 7, extending the winter season and driving stronger demand.

Telluride Air and Lodge Update: February 2 - 8

By Anne-Britt OstlundFebruary 2, 20242 min read

Life @ Telluride

Welcome to the latest Telluride Air and Lodge Update brought to you by Mountain Rose Realty. As we navigate the enchanting world of Telluride real estate, we delve into the dynamic trends shaping the current lodging and air travel landscape in this picturesque mountain town. In this edition, we'll explore the statistics and insights that matter, ensuring you stay well-informed about the state of Telluride from February 2 to 8.

Lodging Update

Occupancy Overview: From February 2 to 16, Telluride's total destination occupancy stands at 61%, revealing a slight 4% dip from the same period in 2023. Despite this, the upcoming weekend is pacing ahead year over year (YOY), and occupancy is expected to recover after a brief dip on February 4, maintaining a flat to slightly ahead trajectory compared to last year.

Average Daily Rate (ADR): A notable highlight in the lodging sector is the 7% YOY increase in the Average Daily Rate, reaching $816. This suggests a positive trend in the pricing landscape for Telluride accommodations, reflecting the desirability and value associated with this unique mountain retreat.

Presidents’ Day Holiday Week: As we look ahead to the Presidents’ Day holiday week, total occupancy is currently pacing 12% behind YOY at 62%, compared to the 70% recorded for the same week in 2023. Despite the dip in occupancy, the ADR remains 7% higher YOY, emphasizing the resilience and attractiveness of Telluride's real estate market.

Winter 2024 Trends: Winter 2024 continues to pace 6% behind 2023 in terms of total occupancy, standing at 54%. However, the Average Daily Rate is 2% ahead, reaching $873. January saw a 10% decrease, while February is pacing 7% behind and March is slightly trailing by 2%. Notably, April's occupancy pace is significantly higher, with a 98% increase, driven by the ski resort staying open through April 7.

Air Update

Winter Trends: Winter 2024 is estimated to be pacing 5% down YOY in terms of spring bookings. Both February and March are trailing behind by a similar margin. The Presidents' Week stands out with the largest gap, attributed to a post-pandemic early spike in reservations last year. Despite this, spring break weeks are closely behind, and the end of the season with an early Easter is showing positive trends.

Baseline Summer Flights: Looking towards the warmer months, baseline summer flights are promising. Historic routes from Houston and Chicago are set to start earlier, and Southwest will be flying from Dallas-Love Field along with Denver. Further flight additions are anticipated over the next couple of months, adding to the accessibility and desirability of Telluride as a prime real estate destination.

Conclusion

As we wrap up this Telluride Air and Lodge Update, it's evident that despite some variations, Telluride's real estate market remains robust and attractive. Mountain Rose Realty continues to monitor and analyze these trends, ensuring you have the most relevant information for your real estate decisions in this captivating mountain town. Stay tuned for more insights and updates from Mountain Rose Realty.

Frequently Asked Questions

What is Telluride's hotel occupancy rate for February 2–16, 2024?: Telluride's total destination occupancy for February 2–16 stands at 61%, representing a 4% decline compared to the same period in 2023. However, the upcoming weekend is pacing ahead year-over-year, and occupancy is expected to recover after a brief dip on February 4.
How much have Telluride hotel rates increased compared to last year?: The Average Daily Rate (ADR) in Telluride has increased 7% year-over-year, reaching $816 for the February 2–8 period. This positive pricing trend reflects strong demand and underscores the continued desirability of Telluride as a luxury destination.
What are the occupancy predictions for Presidents' Day week 2024?: Presidents' Day week is currently pacing 12% behind last year at 62% occupancy, compared to 70% in 2023. Despite lower occupancy, the Average Daily Rate remains 7% higher year-over-year, showing resilience in pricing power.
Which new airline routes are coming to Telluride this summer?: Historic routes from Houston and Chicago are starting earlier, and Southwest will begin flying from Dallas-Love Field alongside Denver service. Additional flight additions are anticipated in the coming months, expanding accessibility to Telluride.
Why is April showing such strong booking momentum for Telluride?: April occupancy is pacing 98% ahead of last year, primarily because Telluride's ski resort is staying open through April 7, extending the winter season and driving stronger demand.