Summer Bookings. A new trend or just a slow start?

Many of you have reached out, expressing concern over the apparent slowdown of the rental market. We’ve been fortunate to have ridden the wave of high demand through Covid, and now that the market has normalized, we understand your concern. Currently, the market is booked at a quiet 37% through Labor Day. Traditionally, July 4th is an exceptional time for bookings, but with the long winter and the slow-to-arrive summer, we are seeing booking rates in the market at 44% for this year compared to the prior past three years at 80%.  

Travel is changing, but with the somber news comes some encouraging information as well. Travelers appear to no longer be booking months in advance but rather 2-3 weeks ahead of their travel plans. With this in mind, we are hoping for a 65-70% occupancy rate in July and possibly a 50-55% booking rate in August. Predictably, the gush of short-term rentals that have entered the market over the past two years has created a supply and demand curve challenge. Just like real estate, it’s become a traveler's market with so many options to choose from. In response to the current environment, TahoeXperience will be adjusting the target rate by 25% and then making adjustments based on views and bookings of each property. 

Now, more than ever, we need to focus on providing amazing, amenity-rich properties and exceptional customer service to stay above the competition. Rest assured that our teams are diligently working on maintaining a high standard of cleanliness, increasing the amenities in the property, and expanding our Xperiences to offer more than our competitors.

The following graphs have been pulled from Airbnb and show how we are performing compared to similar properties in the area. To better understand the current rental climate, please review the metrics below.