Welcome to the latest update from Mountain Rose Realty, your trusted source for all things Telluride real estate. In this edition, we bring you the latest insights on Telluride's air and lodging landscape for the week of July 25 - 31. From the exciting new air services to the current trends in lodging occupancy, we've got you covered. Whether you're a visitor planning your next trip or a potential homeowner searching for Telluride homes for sale, Anne-Britt Ostlund and our dedicated team are here to provide you with the most up-to-date information to help you make informed decisions. Dive in to learn more about what's happening in Telluride!
As we move into the latter part of July, the lodging sector in Telluride is showing promising trends. The upcoming two weeks have surpassed expectations, outpacing last year's figures. The total destination occupancy, which includes both paid and owner-occupied lodging, has increased by 4% year-over-year (YOY), now standing at 58%. Paid occupancy has also risen by 3% to 48%, with the average daily rate (ADR) remaining stable at $566.
The slight increase in late July visitation has led to overall and paid occupancy levels aligning closely with July 2023 at 63%. Looking ahead, August is showing a 2% increase in total occupancy compared to last year, though paid occupancy has dipped by 1%. September, however, is currently trailing behind last year's numbers, with total occupancy down by 13% and paid occupancy down by 23%. This decline is partly due to key dates for Labor Day and the Film Festival falling in August this year, as well as a reduction in wedding bookings.
To address the September dip, lodgers might consider offering special promotions or booking incentives to boost occupancy rates. Given the dynamic nature of summer bookings and the shorter booking windows compared to winter, it's crucial to stay informed with the latest lodging forecasts provided in the weekly Peak Sheet to ensure your business remains well-prepared.
Exciting news for travelers: the Colorado Flights Alliance has announced new air service to the Telluride-Montrose Regional Airport (MTJ) with Breeze Airways. Starting this winter, Breeze Airways will offer flights between John Wayne - Orange County Airport (SNA) and MTJ. Breeze is known for its premium leisure, low-cost flights, connecting 58 U.S. destinations with convenient point-to-point service.
Late bookings continue to strengthen, with July now seeing a 15% increase, August up by 6%, and September holding steady. Increased local usage of the additional Denver flights has slightly impacted tourism numbers. Overall, summer destination traffic is projected to rise by 10-12%. Winter flight schedules are now available, including the new route from Orange County (SNA) to MTJ with Breeze Airways, operating from December to March, five days a week. Make sure to inform your Southern California contacts and start planning your winter getaways to LA, Disney, or San Diego now!
Stay connected with Mountain Rose Realty and Anne-Britt Ostlund for the latest updates on Telluride real estate and local events. Whether you're interested in Telluride homes for sale or looking for the best deals on Telluride lodging, our team is here to help you make the most of your Telluride experience.