Destination total occupancy (paid and owner) over the next two-weeks is 26% lower than the same period in 2022, currently at 17% occupancy compared to 22%. Last year during this time, the Kellogg MBA group of 650 people visited from December 8 – 14, which is likely contributing to the YOY occupancy decrease. Average daily rate (ADR) during this period has decreased by 9% YOY, at $337.
The winter season has shifted from tracking ahead YOY, to slightly behind. Total occupancy is 6% lower YOY at 36%, and average daily rate (ADR) has decreased by 1%. December is seeing the largest decrease, 17% behind 2022, and March is pacing 4% ahead YOY.
With snow in the forecast and the opening of Telluride Ski Resort, these metrics may shift back to align more with pre-season pace.
Early December is soft and bookings are about even to just down for the holidays, which are back on the two week pattern. The overall seasonal trend is looking normal, with more even bookings around President's and Spring Break as compared to the early spikes of the last two years.
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