The outbreak of COVID-19 has slowed vacation rental booking activity. Nationwide, bookings per property made between 3/1 and 3/10 are down by 32%. The trend is more pronounced for out-of-state travel. Bookings for in-state vacations are down by 29% versus last year but bookings for out-of-state vacations are down by 34%. These trends vary regionally across the U.S. and can be influenced by a number of factors, such as peak season, snowfall for ski areas, and dependency on out of state visitors during a "normal" season. As air travel slows, drive-to markets are also being impacted differently than fly-to markets. A few of the key travel states in the U.S. show the diversity, and the magnitude, of the change in in-state versus out-of-state booking activity.
Hawaii Fast Facts:
- Highly dependent on out-of-state guests
- Fly-to market
- International destination
- Adjusted RevPAR is staying strong
California Fast Facts:
- Similar numbers of in-state and out-of-state renters
- Mix of drive-to and fly-to markets
- Adjusted RevPAR is only slightly below last year
Colorado Fast Facts:
- About ⅓ of renters are from Colorado
- Mix of drive-to and fly-to markets
- Adjusted RevPAR is below last year, but snowfall contributes
Florida Fast Facts:
- Highly dependent on out-of-state guests
- Mix of drive-to and fly-to markets
- Adjusted RevPAR is slightly below last year