Lodging metrics through June 20 are significantly lower than the same period last year due to Bluegrass falling on different dates (June 15 – 18 in 2023 vs. June 20 – 23 in 2024). Total occupancy is 20% lower YOY at 41%, and average daily rate (ADR) is down 25% at $479. Looking ahead to Bluegrass weekend, total occupancy has decreased by 9% and average daily rate (ADR) is 18% lower than the 2023 festival weekend. The shift in metrics is most likely due to last year’s 50th celebration and the additional ticket sales that were allowed.
Total destination lodging occupancy and ADR for the summer are pacing 1% behind last year. The end of May closed 6% higher than 2023, and June is tracking 8% lower YOY. July is currently pacing 1% ahead, August is up by 9% and October is 6% ahead of 2023 pace. September is 9% lower YOY, which is due to a majority of the Labor Day/Film Festival weekend days falling in August this year.
With the summer marketing campaign live, and booking windows shorter than winter months, lodging metrics can change quickly. Stay tuned for up-to-date lodging forecasts in the weekly Peak Sheet to ensure your business is properly prepared!
AIR UPDATE
After a sluggish start, air bookings have ramped up over the last several weeks. May saw a major jump in travelers with mainline jets on the DEN to MTJ route, and the core summer months are pacing up around 5%. Remember to promote our Denver Air flights from DEN and PHX to TEX this summer, now with better connecting fares!
Thank you for staying updated with our latest lodging and air travel insights. As we navigate the dynamic summer season, these metrics are crucial for planning your perfect Telluride experience. If you're captivated by the beauty and lifestyle Telluride offers and are considering a permanent stay, Mountain Rose Realty is here to assist.
Anne-Britt Ostlund, our expert in Telluride real estate, is dedicated to helping you find your ideal property. Whether you're interested in Telluride homes for sale or exploring other homes for sale in Telluride, CO, we offer unparalleled expertise and personalized service to meet your needs.
Stay connected with Mountain Rose Realty for the latest Telluride real estate trends and market insights. Visit our website or contact Anne-Britt Ostlund to begin your journey toward owning a piece of Telluride's charm.
Ready to explore Telluride real estate? Contact Mountain Rose Realty and Anne-Britt Ostlund for expert guidance on finding the perfect home, whether you're interested in luxury condos, family homes, or vacation properties in Telluride, CO.
Frequently Asked Questions
Why is Telluride lodging occupancy lower in June 2024 compared to 2023?
Bluegrass festival dates shifted from June 15–18 in 2023 to June 20–23 in 2024, causing early-June occupancy to drop 20% year-over-year to 41%. Additionally, last year's 50th festival celebration drove higher ticket sales and bookings that won't repeat this year.
What is the average daily hotel rate in Telluride for early June?
The average daily rate (ADR) for lodging through mid-June is $479, down 25% from the same period last year, primarily due to the festival timing shift.
How are summer air bookings to Telluride trending?
After a slow start, air bookings have ramped up significantly over recent weeks, with May showing a major jump in mainline jet travel on the Denver-to-Telluride route. Core summer months are pacing up around 5% overall.
Which summer months are performing stronger than 2023 in Telluride lodging?
July is pacing 1% ahead of 2023, August is up 9%, and October is 6% ahead. Conversely, September is tracking 9% lower due to Labor Day and Film Festival dates falling earlier in August this year.
