Destination occupancy has filled-in for the remainder of the month, with more last-minute bookings over the past week. The next two weeks are pacing 1% behind in total occupancy, paid occupancy is 2% lower YOY, and average daily rate (ADR) is 2% higher, resulting in a 1% increase in revenue per available room (RevPAR).
August is currently pacing 1% ahead in total occupancy and paid occupancy is flat, while ADR is 8% higher. The increases are most likely due to a majority of days over Labor Day/Film Festival falling in August rather than September as they did in 2023. This also creates a shift in September metrics, where total occupancy is currently pacing 13% behind last year, paid occupancy is down 22%, and ADR is 6% lower. September metrics indicate an opportunity for lodgers to offer specials or booking incentives to move the needle in a positive direction.
With the summer marketing campaign live, and booking windows shorter than winter months, lodging metrics can change quickly. Stay tuned for up-to-date lodging forecasts in the weekly Peak Sheet to ensure your business is properly prepared!
AIR UPDATE
Strong late bookings continue to fill for close-in travel, with July now up close to 15%, with August up 6%, and September now flat. Higher local usage on the added Denver capacity will result in lower tourism numbers than the above. Overall summer destination traffic is estimated to be up 10-12%. Winter flights are live, including the new route from Orange County (SNA) to MTJ with Breeze from December - March, five days weekly. Let your Southern California markets know, and book your trip to LA/Disney/San Diego now!
Conclusion
Keeping abreast of these lodging and air updates is crucial for anyone interested in Telluride real estate, whether you're considering buying a home or investing in vacation properties. At Mountain Rose Realty, we are committed to providing you with the most accurate and timely information. For more details or to explore Telluride homes for sale, contact Anne-Britt Ostlund, your trusted Telluride real estate expert.
Stay tuned for our next update, and don't hesitate to reach out with any questions or for personalized real estate assistance.
Thank you for staying with us for this week's Telluride lodging and air updates. We hope you found the information valuable as you plan your visit or explore Telluride real estate opportunities. For more insights and personalized assistance, connect with Anne-Britt Ostlund at Mountain Rose Realty. Stay tuned for more updates and have a great week ahead!
Frequently Asked Questions
How is Telluride lodging occupancy performing for the rest of July and August 2024?
Late July is tracking 1% behind last year in total occupancy, though revenue per available room (RevPAR) is up 1% due to a 2% higher average daily rate. August is pacing 1% ahead in total occupancy with an 8% increase in ADR, largely because Labor Day and Film Festival events fall in August this year rather than September.
What is happening with September lodging demand in Telluride?
September is currently pacing 13% behind last year in total occupancy and 22% down in paid occupancy, creating an opportunity for lodging properties to offer specials or booking incentives to boost bookings during this softer period.
How are air arrivals trending for Telluride in summer 2024?
July air traffic is up close to 15%, August is up 6%, and September is flat year-over-year. Overall summer destination traffic is estimated to be up 10-12%, though higher local usage on added Denver capacity will reduce some tourism numbers.
Is there a new flight route to Telluride for the 2024-2025 winter season?
Yes—Breeze Airways is launching a new route from Orange County (SNA) to Montrose (MTJ) operating five days weekly from December through March, offering convenient access for Southern California travelers.
