October Recap: October finished very well for B/R owners! We saw occupancy grow approximately 6.5% vs. 2023 and were able to pull sturdier rates for the fall break weeks. The latter half of the month continued with good occupancy thanks in very large part to some perfect weather (we only had one day of rain which is certainly an anomaly!). The market fell short of matching our growth and dropped over 4 occupancy points vs. 2023. We are certainly satisfied with the pricing and marketing strategy outcomes for the month!
November and December Trends:
November and December are traditionally and expectedly our lowest occupancy months of the year. Current occupancy levels are holding similar to last year’s trends. We continuously review our nightly rates for appropriate pricing, and will be prepared to capitalize on revenue opportunities for favorable weather weekends in the short term.
Early 2025 Outlook:
We will be running our Black Friday and Cyber Monday sales beginning the week of Thanksgiving. Early indications lead us to be cautiously optimistic heading into 2025. We are properly priced for the key demand periods and expect to learn a lot more about early 2025 demand throughout the sale. We took great advantage of a substantial demand boost for the Sand in my Boots Festival (previously Hangout Music Fest) for mid-May bookings. We were able to pull very strong rates vs. any of the past several years and expect that we will continue booking very well for the festival week.
Snowbird Outlook:
Snowbird bookings for early 2025 are strong. While there are several projects impacting specific buildings, overall demand is solid for the 2025 snowbird season.