How seasons affect
vacation rental bookings
For homeowners of vacation rentals, seasons are everything, and we’re not simply talking about the weather. Tourism season should command your attention, because over 80% of your yearly revenue could be collected during this time. However, there are some markets where seasonality doesn’t matter much.
By NICK JOHNSON
After reviewing a large assortment of data on American travelers, we can help you determine what factors play into your rental success and how to translate them to smart marketing strategies and rate plans.
Here is some of that data to give you a better grasp on how seasonality affects your business and what to prepare for based on your market.
BEACH AREAS
“It’s nearly impossible to generalize seasonality stats for beach markets because of the climate factor. For example, Hawaii’s beaches have year-round activity, whereas Nantucket see an incredibly limited tourist season
While times can change, all beach rental benefit from the right amenities: hot tubs, pools and large outdoor space consistently bring in more bookings.
These are possible trends you may come across for properties in a beach town:
- Clearwater, FL & St. Pete, Florida
-High Seasons:: March, June, July
-Advance booking time: 65 days
-Yearly occupancy: 204 days - The Oregon Coast
-High season: August
-Advance booking time: 90 days
-Yearly occupancy: 91 days - Cape Cod, MA
-High season: July, August
-Advance booking time: 95
-Yearly Occupancy: 120 days
MOUNTAINS
It’s common for the top-performing vacation rentals to have close proximity to nearby resorts, eliminating the hassle of getting to the mountains or ski slopes. While you might have guessed that winter is almost always the peak season, summer also lends itself to a mad dash of travelers.
Therefore, you’ll want to purchase as near to ski lifts or outdoor recreation as possible if you’re interested in short-term rental. The amenities of nearby resorts will attract more bookings as prospective guests see sauna, hot tubs and other things on the list.
These are numbers you may think are associated with vacation rentals in the mountains.
- Breckenridge, CO
- High Season: March
- Advance booking time: 52 days
- Yearly occupancy: 154 days
- Poconos Mountains, PA
- High Season: February
- Advance booking time: 35 days
- Yearly occupancy: 128 days
- Park City, UT
- High Season: February
- Advance booking time: 62 days
- Yearly occupancy: 117 days
ALL SEASON MOUNTAINS
Some mountains are all-season, meaning they don’t survive solely on winter or summer peak seasons to survive–they attract tourists by the droves any time of year. Case in point, the mountains of North Carolina and Arizona. They bring in fall travelers for their stunning foliage display and spring vacationers for moderate weather recreation.
While you still want to position your guests near common attractions here, it’s equally if not slightly more important to have a beautiful view. This is one of the best ways to beat the competition, by letting guests know they can enjoy the beautiful mountains they traveled to see from the comfort of their rental.
You’ll notice these trends when renting a vacation home in an all-season mountain town:
- Gatlinburg, TN
- High Season: July
- Advance booking time: 52 days
- Yearly occupancy: 197 days
- Sedona, AZ
- High Season: March
- Advance booking time: 66 days
- Yearly occupancy: 252 days
- Yosemite, CA
- High Season: June, July
- Advance booking time: 55 days
- Yearly occupancy: 84 days
LAKES
Lakes are the number one location for family vacation spots, which means they thrive during the summer months, the peak time for traveling and right in the thick of summer break.
And, in case you haven’t noticed a trend, the closer to the water the better. You’ll see a swarm of bookings for being close to the lake and even more if you have something special to offer, like a dock. This isn’t to stay you won’t get bookings away from the lake, just be sure to attract visitors with other amenities, like a hot tub or fully furnished game room.
These are lake-specific trends to review:
- Michigan Lakes Area
- Peak: August
- Advance booking time: 62 days
- Yearly Occupancy: 69 days
- Branson, Missouri
- Peak: July
- Advance booking time: 47.5 days
- Yearly Occupancy: 183 days
- Texas Lakes Area
- Peak: July
- Advance booking time: 55 days
- Yearly Occupancy: 73 days
DESERTS
For travelers who are tired of the winter and and looking to get out in the open, the desert is a perfect draw. You’ll want to be prepared for winter months–any period that is bitterly cold in other places but not extreme in the desert.
The best amenity you can offer here is a pool, or access to one, a hot tub also runs you some nice attention. Also take notes of outdoor sports and activities likes golfing or hiking and try to remain in close proximity.
Desert-area rental trends:
- Phoenix, AZ
- High Season: March
- Advance booking time: 79
- Yearly Occupancy: 147 days
- Palm Springs, CA
- High Season: March
- Advance booking time: 100
- Yearly Occupancy: 125
- Moab, UT
- High Season: May
- Advance booking time: 71
- Yearly Occupancy: 172
SEASONALITY IMPACT ON MARKETS
You must think about seasonality to be a smart and successful vacation rent owner, for example you may not want to purchase a home near the end of a peak season where you’ll have to wait the better part of year to get bookings, unless you’re financially prepared to do so.
Timing your purchase so that you’re ready to list at the onset of peak season will help you to book your property immediately.
Planning is everything and knowledge is power. The more equipped you are with knowledge of real estate markets, the better you can prepare for your new investment. Context is everything when forming your rental revenue expectations and placing yourself in a good position to earn more bookings.
If you’re interested in learning more B&B Fusion can help you navigate seasonality, contact us for a consultation.
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