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.
AIR UPDATE
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.
Thank you for joining us for this insightful update on Telluride Board and Lodging. As you navigate the vibrant real estate landscape of Telluride, consider partnering with trusted experts to guide you through the process. Mountain Rose Realty, led by the experienced Anne-Britt Ostlund, is your go-to source for Telluride Real Estate.
Whether you're seeking Telluride homes for sale or exploring properties in Telluride, CO, Anne-Britt Ostlund and the Mountain Rose Realty team are dedicated to providing unparalleled service. Stay informed about the latest market trends, investment opportunities, and property listings by connecting with us.
If you're ready to make a move in the Telluride real estate market, contact Mountain Rose Realty today. Anne-Britt Ostlund's expertise and commitment to client satisfaction make her a valuable partner in your real estate journey. Explore the beauty of Telluride while finding the perfect place to call home with Mountain Rose Realty by your side.
Frequently Asked Questions
What is the current lodging occupancy rate in Telluride for early December 2023?
Telluride's destination lodging occupancy for December 1-7 is at 17%, which is 26% lower than the same period in 2022 when it was at 22%. The decline is partly attributed to the absence of the Kellogg MBA group of 650 people who visited last year during December 8-14.
How have room rates in Telluride changed year-over-year?
The average daily rate (ADR) for early December has decreased by 9% compared to last year, currently sitting at $337. For the overall winter season, the ADR is down 1% year-over-year.
What is the booking outlook for Telluride air travel in early December?
Early December bookings are soft and roughly even to slightly down for the holidays, which are following a two-week pattern. The overall seasonal trend appears normal with more balanced bookings around President's Day and Spring Break compared to the early spikes seen in the previous two years.
Which months are performing strongest in Telluride's winter season so far?
March is pacing 4% ahead year-over-year, while December is experiencing the largest decline at 17% behind 2022. The overall winter season is currently tracking slightly behind at 36% occupancy compared to last year.
