Spring revenue and occupancy were much lower in 2020 than in 2019 due to COVID-19 related closures and legislation. Property Managers are looking ahead and hoping to recover some of that lost revenue in the fall. Four markets where that might come to fruition are the Coachella Valley (home to Palm Springs), Park City, the Tennessee Smoky Mountains, and Western North Carolina. All four were pacing on par with or above last year from September to November. The market seeing the largest increases over last year was the Coachella Valley – in Mid-October, Paid Occupancy reaches 10% higher than 2019 and RevPAR is $70 higher – due the rescheduling of the Coachella Valley Music and Arts Festival.
