Total destination occupancy over the next two-week period has increased by 4% YOY, currently at 52%, and average daily rate (ADR) has decreased by 7% at $557. Most of the growth will occur over the 4th of July holiday long weekend, with a total occupancy (paid and owner) increase of 15% YOY, averaging 55% occupancy over five days. Average daily rate over the holiday weekend has decreased by 11% compared to 2022, at $656. Properties in Mountain Village will see a 31% YOY occupancy increase over the 4th, and Town of Telluride’s occupancy over the holiday weekend has decreased by 7%.
Summer continues to pace slightly ahead of 2022, with a 2% increase in both total and paid occupancy (currently at 39% and 31% respectively). Destination average daily rate (ADR) has decreased by 4% at $593 compared to $618 in 2022. Mountain Village total occupancy is pacing 9% ahead of 2022 at 38% occupancy, with a 9% decrease in ADR at $568. Telluride’s total occupancy is pacing 6% behind YOY at 41%, and ADR has increased by 4% at $625.
With summer booking windows shorter than the winter months, lodging metrics can change quickly. Stay tuned to the weekly Peak Sheet for up-to-date lodging forecasts to ensure your business is properly prepared!
Strong weekly bookings have continued after the softer spring, with summer overall now up about 5%. June, with early events, is up double digits with July and August up a few points, and September and October flat to just down. Daily traffic is spread evenly over the next few weeks, including the 4th of July holiday. Early winter schedules are live now, if it’s not too soon!
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