September Trends:
September finished much better for Brett/Robinson owners than it did for competitors’ owners. Our owners saw on average 5 more nights and made about an extra $1,000 more than the average 1–4-bedroom, Gulf-front condominium did for the month of September. We attribute most of this success to a better understanding of market conditions as well as making the necessary adjustments to capitalize on attaining additional nights in a slow demand month.
October Trends:
October is pacing very well! Overall, the month is ahead 5% in occupancy vs. 2023, at similar rates to 2023 as well. October does consist of two distinct pricing seasons: Fall Break through about the 15th, and Winter for the rest of the month. For Fall Break, we’ve been able to pull strong rates and are filling in very nicely in terms of occupancy. A more occupancy-based pricing strategy is our plan for the final two weeks of the month. Warm, dry weekends would really help fill in those last two weeks!
Winter and 2025 Expectations:
We expect that movement will continue to be slow after the Fall Break period until we get through the presidential election. After the election, we will turn our focus to monitoring booking patterns of our Black Friday/Cyber Monday sales, looking for signs of strength into 2025. Regardless of the election outcome, we anticipate a decent spike in demand post-election. We are well-prepared to take advantage of potential strength in 2025 demand and are closely monitoring those patterns, even with currently minimal data to analyze.
Looking ahead, bookings will pick up in February as families begin making plans for Spring Break and the summer. We’d like to remind you to book your owner or guest-of-owner stays now as we will be diligently working to maximize spring and summer bookings for your unit! It is also worth mentioning that leaving holidays available for guest stays allows for maximum nightly rates. If it is possible to stay in the days leading up to or following a holiday, holding out for the rental revenue can prove worthwhile.