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HomeMy WebLinkAbout04. Vail_Lodging_Performance_UpdateVail Lodging Performance Update Analysis for December 1, 2025 through April 30, 2026 as of December 31, 2025 Vail Winter Lodging Performance Hotels & Professionally Managed Homes & Condos Season-to-date analysis for Dec. 1, 2025 through Apr. 30, 2026 as of Dec. 31, 2025. These differences reflect how each segment responds to demand uncertainty. Hotels adjust pricing more quickly to maintain volume. Homes and condos often prioritize rate stability due to longer stays and owner-driven pricing decisions. +3% Hotel Occupancy -7% Hotel Average Daily Rate -6% Homes & Condos Occupancy +3% Homes & Condos Average Daily Rate Cancellation Trends: +3% in cancelled nights Canceled room nights are pacing 3% higher YoY for arrivals Dec. 1 - Apr. 30. There's an increased concentration of cancellations for arrivals from Dec. 1 through January 22, which likely reflects early-season uncertainty. Later winter and spring travel plans remain mostly unchanged. High Demand Periods | Looking Forward Christmas / New Year's (Dec 19 – Jan 4) •Hotels: Occupancy down 8% YoY, rates down 2% •Homes & Condos: Occupancy down 7%, rates up 4% •Takeaway: Demand softened across both segments; hotels discounted to support occupancy, while homes/condos held rates. President's Week (Feb 13 – 22) •Hotels: Occupancy up 8%, rates down 8% •Homes & Condos: Occupancy down 8%, rates up 7% •Takeaway: Hotels drove volume through pricing; homes/condos are protecting rates but overall revenue is pacing mostly flat year over year. Spring Break (Mar 6 – 15) •Hotels: Occupancy up 33%, rates down 5% •Homes & Condos: Occupancy down 13%, rates up 7% •Takeaway: Hotels captured strong demand; homes/condos continued a rate-first strategy. Easter (April 5th) •Hotels: Seeing a meaningful occupancy lift from earlier Easter timing •Homes & Condos: Experiencing a similar Easter bump Takeaway: Easter is a shared bright spot across lodging types due to its early April timing. How Vail Compares to Western Mountain Resort Peers Vail maintains stronger visitation, especially in hotels, by offering lower room rates. Homes and condos largely mirror regional trends. Hotels: Vail vs. Peers Vail: Occupancy up 3%, rates down 7% Peers: Occupancy down 13%, rates up 3% Vail hotels significantly outperform in occupancy due to lower pricing, unlike peers who maintain rates with fewer visitors. Homes & Condos: Vail vs. Peers Vail: Occupancy down 6%, rates up 3% Peers: Occupancy down 4%, rates up 3% Vail's homes and condos align with peer pricing but show slightly greater occupancy softness than the regional average. Data is current as of Dec. 31, 2025, for arrival dates between Dec. 1, 2025, and Apr. 30, 2026. The competitive set includes Aspen, Beaver Creek, Breckenridge, Copper Mountain, Crested Butte, Jackson Hole, Keystone, Park City, Steamboat, and Winter Park.