Across the United States, Labor Day weekend is popular for vacationers to get one last summer trip in. According to AAA, 35 million Americans travelled for Labor Day weekend in 2019. But, as the COVID pandemic drags on, how will this year’s paid occupancy rate compare to last year’s?
Adjusted Paid Occupancy is the percentage of guest nights booked, out of the guest nights available. Most markets we analyzed will see increases over last year and some markets will do exceptionally better. Big Sky, Montana; the Outer Banks of North Carolina; and Hilton Head Island saw a 39%, 27% and 25% increase, respectively.
However, there are a few markets that will not outperform last year. Jackson Hole, Wyoming saw the greatest decrease in paid occupancy over last year (9% lower), with Telluride & Mountain Village in Colorado and the San Francisco Bay Area in California also seeing decreases of 7% and 3%.
With gas prices predicted to be at their lowest in 16 years, COVID-19 related quarantines being lifted, and increased paid occupancy numbers, we would expect this Labor Day weekend to be as busy, or busier, than last year. How do the properties in your inventory compare to the market? Contact Key Data Dashboard to see how our tools can help improve your market insights.