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Telluride Lodging and Air Update: August 8 – 14

Via Telluride Tourism Board

LODGING UPDATE

Total destination occupancy through August 22 is 5% lower than the same period in 2023 at 51%, and paid occupancy is pacing 10% behind YOY. Average daily rate (ADR) has increased by 4%, resulting in a 6% decrease in revenue per available room (RevPAR). Total occupancy for the month of August continues to pace flat compared to last year. Film Festival/Labor Day weekend is tracking slightly behind 2023, with a 6% decrease in total occupancy. 
 
September continues to pace 13% behind in total occupancy, and paid occupancy is down 22%. The decline is partially due to a majority of days over Labor Day/Film Festival falling in August rather than September. A reduction in wedding business may also be contributing to the decrease in pace. With air bookings for the month of September flat, the hope is that the lodging bookings will follow. In the meantime, metrics present an opportunity for lodgers to offer specials or booking incentives to move the needle in a positive direction. 

With the summer marketing campaign live, and booking windows shorter than winter months, lodging metrics can change quickly. Stay tuned for up-to-date lodging forecasts in the weekly Peak Sheet to ensure your business is properly prepared! 

AIR UPDATE

Late or last minute fill has continued over the last several weeks, with July up roughly 15%, August up around 7%, September flat, and October just down YOY. Overall traffic for the summer is now up 10-12% YOY. With the added DEN-MTJ capacity increasing regional usage, tourism numbers are likely slightly lower than above. Don’t forget about the recently announced Breeze flights between MTJ and SNA/Orange County this winter. Book winter flights now at FlyBreeze.com. 

Conclusion

The recent lodging and air updates offer valuable insights into the current state of tourism in Telluride. Whether you’re looking to invest in Telluride real estate, considering a move to this beautiful mountain town, or planning your next vacation, understanding these trends is key to making informed decisions.

The dynamic nature of the market means that opportunities can arise quickly. With experienced real estate agents like Anne-Britt Ostlund at Mountain Rose Realty, you’ll have the guidance you need to navigate the Telluride real estate market effectively. From finding the best Telluride homes for sale to offering insider knowledge on market trends, Mountain Rose Realty is your go-to resource for all things real estate in Telluride.

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