Tourists are drawn to California for the mild weather, theme parks, beaches, shops, and more. Here’s a quick overview of the performance trends for vacation rentals in three different California regions:
- Occupancy of the three regions analyzed - San Diego, Lake Tahoe, and Coachella Valley (home to Palm Springs) all saw a decrease in Paid Occupancy from 2018 to 2019.
- Average length of stay - In 2019, the average length of stay for vacation rentals in Lake Tahoe and San Diego was shorter than in 2018. Coachella Valley had the longest length of stay at 8 days, the same as in 2018.
- Average booking window - Renters made reservations closer to their stays in all three regions analyzed.
- Average daily rate - The average daily rates remained consistent in San Diego and increased for the Coachella Valley and Lake Tahoe.
- Revenue per available room - The impact of these differences on individual property performance across the state varied greatly. Cathedral City in the Coachella Valley region saw an increase of 33% in their revenue per available unit over 2018, whereas Oceanside in the San Diego region saw a 13% decrease year over year.
Over the next few weeks, we’ll be releasing similar reports for other destinations across the United States. We look forward to sharing our insights and hearing your feedback on your experiences.