The first snow is on the peaks, and Telluride's winter numbers are moving with it. The Telluride Tourism Board's Halloween edition of the Peak Sheet shows winter lodging pacing ahead of last year, air bookings closing the gap, and Denver flights into Telluride Regional Airport returning next month. Here's what the numbers say, and what they mean for owners and buyers in the Telluride vacation rental market.
The Tourism Board describes the winter lodging forecast as currently positive.
Winter total occupancy: Pacing 7% ahead year over year (24% vs. 22%).
Winter paid occupancy: Up 5% (17% vs. 16%).
By month: Total occupancy (paid + owner) is pacing ahead for all months except early April. Paid occupancy is slightly behind in January, flat in March, and down in early April.
Thanksgiving week: Trending slightly ahead, with total occupancy currently at 9.4%, compared to 8.8%.
Halloween weekend: Overall occupancies are low over Halloween due to the shoulder season, but the holiday weekend is pacing one percentage point ahead of 2025 at 9%.
The Tourism Board is hopeful that the early marketing launch and recent snowfall have helped move the needle, and remains cautiously optimistic because these metrics can shift quickly. Starting in December, its reports will compare against two years prior (YO2) for a more accurate picture of lodging trends.
Summer is finishing strong, with the early weeks of October approaching peak summer air traffic.
Shoulder season service: Daily flights into Montrose Regional Airport (MTJ) from Denver on United and Southwest, and from Dallas on American.
Telluride Regional Airport (TEX): Denver to TEX flights resume November 20, the same day the free gondola returns to winter service.
Winter air bookings: Bookings have picked up as the snow has started to fly, and the season is now off approximately 5%.
Holiday air bookings: The holidays have gained and are now down 3%, with a compression into a second week since Christmas falls on a Friday.
Our early October update has the previous numbers for comparison.
📈 Curious what this winter's pace means for your property's value or rental income? Let's talk: calendly.com/mountainroserealty
The headline is positive, but the detail is where owners can act. Paid occupancy is slightly behind in January, so that's the month to watch with your property manager. Review rates, minimum-night rules and how your listing is marketed. With holiday air travel compressing into a second week around a Friday Christmas, it's also worth confirming your holiday calendar now. The Tourism Board is encouraging partners to prioritize marketing during prime booking season, and individual owners can follow the same playbook.
One strong forecast is a snapshot, not a guarantee. Before you buy with income in mind, look at three things:
Access: How easily winter guests reach the property from the airport, and whether it's an easy walk or shuttle to the lifts.
Rules: Short-term rental rules differ between the Town of Telluride, the Town of Mountain Village and San Miguel County, and many HOAs add their own. Confirm them for the specific property.
Use: How you plan to use the home yourself. Owner weeks at the holidays are often why buyers choose Telluride in the first place.
Browse current Telluride homes for sale to compare rental-friendly options, from ski-in/ski-out condos to homes in town.
🔑 Considering a Telluride investment property? Let's map out your options: calendly.com/mountainroserealty
Late fall is the window to refresh listing photos, update your property description for winter, and finish maintenance before Thanksgiving guests arrive. Owners who are booked and polished by mid-November are the ones who capture the early-season demand these numbers point to.
With over two decades in Telluride and Southwest Colorado, and as a CLHMS and REALM Global Exclusive Member, I watch these reports closely because they shape how owners price, book and plan their seasons.
In the Tourism Board's reports, paid occupancy counts rented nights. Total occupancy is paid plus owner nights. When total is ahead but paid is flat or behind for a month, rental demand for that month is softer than the headline suggests.
Telluride Ski Resort is targeting November 26, 2026, Thanksgiving Day, as opening day, with a targeted closing day of April 4, 2027. Dates depend on weather and conditions.
Most owners fly into Montrose Regional Airport (MTJ), which has daily Denver and Dallas service, or into Telluride Regional Airport (TEX), where Denver service returns November 20.
Beyond the mortgage, plan for HOA dues where they apply, property management fees, lodging and sales tax collection, utilities, insurance and routine maintenance. Gross rental revenue is only the starting point for evaluating a property.
No single report decides a winter. This one shows momentum: lodging is pacing ahead, air bookings are closing the gap, and Denver flights to Telluride return in three weeks. For owners and buyers alike, that's a good reason to plan this Colorado winter now.
For more context, read our October 2026 Air & Lodging Trends update, explore Telluride real estate by area, and follow along on Instagram @themountainrose.
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Anne-Britt Ostlund | Founder & Luxury Real Estate Broker, Mountain Rose Realty
220 E Colorado Ave, Suite 211, Telluride, CO