Telluride Air and Lodge Update: February 2 - 8

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.


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Address Anne-Britt Ostlund | Mountain Rose Realty
ER.40037299
Mountain Rose Realty
220 East Colorado Avenue Suite 210
Telluride, CO 81435

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