• News
    • VRM Intel News
    • Latest News
    • Sponsor News
  • COVID-19
  • Marketing
  • Tech
  • OTAs
  • Customer Service
  • Business
  • Housekeeping
  • More
    • Education
      • Calendar of Events
      • Videos & Whitepapers
    • VRM Intel Live!
    • Reports Login
    • VRM Intel Magazine
    • Subscribe
    • Advertise
    • Authors
    • About Us
    • Contact Us
VRM Intel
  • News
    • Resort Collection Outsources Call Center to Jamaica
    • Getaway Society Founders Are a Dynamic Duo
    • Marketers: Too Soon to Plan for 2022?
    • Fact or Fiction? Mythbusting Hot Vacation Rental Trends
    • Fast Growth at Homes & Villas by Marriott International
    • VRM Intel News
    • Latest News
    • Sponsor News
  • COVID-19
    • Bounce into 2021 with Tools to Help Heal and Focus
    • 12 Steps To Reclaiming Your Spirit of Hospitality From The Grasp Of Cynicism
    • Marketers: Too Soon to Plan for 2022?
    • Fact or Fiction? Mythbusting Hot Vacation Rental Trends
    • Identifying, Hiring, and Inspiring Your Team in a Post-Pandemic World
  • Marketing
    • One Size Doesn’t Fit All in Owner Acquisition
    • Marketers: Too Soon to Plan for 2022?
    • Fact or Fiction? Mythbusting Hot Vacation Rental Trends
    • Fast Growth at Homes & Villas by Marriott International
    • Expedia CEO Talks Vrbo: We ‘Removed Vrbo from Google’s Vacation Rental Meta Product’
  • Tech
    • Fact or Fiction? Mythbusting Hot Vacation Rental Trends
    • Technology in 2021 and Beyond: Vacation Rental Tech Leaders Predict the Future
    • The Pace Report Is Dead
    • How 2020 Played Out: Analyzing Performance in 10 Key Vacation Rental Destinations
    • Founder of Newly Launched Kaiser Vacation Rentals Says, “Things Will Be Different … This Time”
  • OTAs
    • Expedia CEO Talks Vrbo: We ‘Removed Vrbo from Google’s Vacation Rental Meta Product’
    • vacation rentals at the best price guaranteed
      Stays Group Vacation Rental Network Opens SoutheastStays
    • Vrbo Is Performing Better Than Airbnb for Vacation Rental Managers, But Direct Booking Still Number One Revenue Source . . . By A Lot
    • 4th Annual #BookDirect Guest Education Day Is February 3, 2021
    • Airbnb Goes Public. CEO Brian Chesky: “Travel is never going to look like it did in January”
  • Customer Service
    • Resort Collection Outsources Call Center to Jamaica
    • Bounce into 2021 with Tools to Help Heal and Focus
    • 12 Steps To Reclaiming Your Spirit of Hospitality From The Grasp Of Cynicism
    • Getaway Society Founders Are a Dynamic Duo
    • sarah and t record podcast vrma recap episode sarah walker luxury vacation rentals
      Sarah and T Podcast: PMs Should Be Prepared to Answer These Questions from Prospective Homeowners
  • Business
    • One Size Doesn’t Fit All in Owner Acquisition
    • Resort Collection Outsources Call Center to Jamaica
    • Bounce into 2021 with Tools to Help Heal and Focus
    • 12 Steps To Reclaiming Your Spirit of Hospitality From The Grasp Of Cynicism
    • Getaway Society Founders Are a Dynamic Duo
  • Housekeeping
    • Founder of Newly Launched Kaiser Vacation Rentals Says, “Things Will Be Different … This Time”
    • Booking.com Affirms Commitment to Quality with Minimum Cleanliness Score Requirement
    • Q&A with Breezeway founder Jeremy Gall about company’s $8 million funding round and more
    • Gatlinburg-based Cabins For YOU acquires Chalet Village and is looking for more. Q&A with owner and founder Greg Plimpton
    • What is the cost of Airbnb’s recommended 24- to 72-hour “buffer” time between stays?
  • More
    • Education
      • Calendar of Events
      • Videos & Whitepapers
    • VRM Intel Live!
    • Reports Login
    • VRM Intel Magazine
    • Subscribe
    • Advertise
    • Authors
    • About Us
    • Contact Us
  • RSS

Business

How 2020 Played Out: Analyzing Performance in 10 Key Vacation Rental Destinations

How 2020 Played Out: Analyzing Performance in 10 Key Vacation Rental Destinations
mm
Amy Hinote
February 10, 2021

COVID-19’s impact on the travel industry will be analyzed, studied, and debated for years to come. Several sectors, like cruise travel, business travel, and experiences, were almost decimated. In contrast, the leisure-based, whole-home, short-term rental (aka, vacation rental) sector quickly rebounded in areas that were able to reopen. 

Vacation rentals performed better, year over year, than other accommodation types as a whole. However, success varied greatly from one destination to another. There is nothing average about our national average statistics. 

Throughout last year, we heard much anecdotal analysis about how vacation rental destinations were reacting, but how did the year turn out? Now that the book on 2020 has closed, we’re able to examine how the year actually played out. 

Below, we examine 2020 performance by month for eight destinations that Key Data’s Melanie Brown and I have been tracking since 2018 and first reported on in the Fall 2019 article, “18-Months in Review.” In particular, we’ve been monitoring occupancy, average length of stay (ALOS), average daily rate (ADR), and average booking window (ABW) for each of these regions. 

 

A Tale of Two Leisure Cities: Charleston and Orlando Areas, 2020 vs 2019 

Urban markets such as New York and Chicago suffered greatly as travelers fled crowded areas; however, leisure-oriented city markets were difficult to predict. Charleston, for example, quickly rebounded and began exceeding 2019’s occupancy in May, while Orlando is only beginning to see occupancy rates normalize. 

Click on the graphs below to enlarge.



 

 

A Stark Comparison: NC’s Outer Banks and Hawaiian Islands, 2020 vs 2019 

In comparing vacation rental markets, perhaps the starkest contrast is found when looking at the Outer Banks and the Hawaiian Islands. Hawaii made the decision to protect its population by enforcing strict travel restrictions throughout 2020. In contrast, after a short period of denying access to nonresidents, the Outer Banks—with its large inventory of spacious luxury homes—became the beach escape of choice for city dwellers from several large urban markets and began outperforming 2019 in June. 

Click on the graphs below to enlarge.

 

 

Southeast Beaches: Hilton Head and AL-FL Panhandle, 2020 vs 2019 

As we discovered in a VRM Intel study, consumers in the southeastern United States were more likely to travel than those from other areas of the country, benefiting well-known southern beach destinations. With few travel restrictions and short periods of travel restrictions, these destinations ended up following similar trend patterns as 2019. 

Click on the graphs below to enlarge.

 

 

Ski Destinations Began to Bounce Back in August: Park City and Telluride, 2020 vs 2019 

Even though ski markets were able to complete a successful January and February, 2020’s Spring Break was essentially destroyed. Although it took some time, these markets began to exceed 2019 performance by the latter part of 2020, but the jury is still out on how the ski season will conclude. 

Click on the graphs below to enlarge.

 

 

Year-Round Mountain Markets Pulled Ahead in May: Lake Tahoe Area and TN Mountains, 2020 vs 2019 

With reliable drive-to feeder markets and strong fall traffic, year-round mountain markets realized some of the travel industry’s biggest gains in occupancy, ADR, and RevPAR. As you will see, by July, these markets were soaring. 

For vacation rental executives and marketers, we suggest looking at these same metrics in your own market and identifying like-markets, or markets that perform similarly to your own. Looking forward, monitoring like-markets will help determine whether a trend is market-specific or indicates potential change in consumer behavior. 

Click on the graphs below to enlarge.

 

 

Related ItemsAL FL Panhandleanalytics reportsCharlestonCOVID-19FeaturedHawaiian IslandsHilton HeadKey Data DashboardLake Tahoemelanie brownnorth carolinaOrlandoTN MountainsWinter 2021YOY Performance
Click to add a comment

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Business
February 10, 2021
mm
Amy Hinote @vrmintel

Amy Hinote is the founder and editor-in-chief of VRM Intel Magazine, which provides news, information and resources for the professionally managed vacation rental industry. With a background in finance and over 15 years in the vacation rental industry, Hinote has worked with property management companies, technology companies, intermediaries and investors, and provides insider information about the growing vacation rental industry. She also founded the data company, now known as Key Data Dashboard, which provides aggregated market intelligence and reporting for vacation rental managers. Hinote resides between Alabama's Gulf Coast and Evanston, Illinois.

Related ItemsAL FL Panhandleanalytics reportsCharlestonCOVID-19FeaturedHawaiian IslandsHilton HeadKey Data DashboardLake Tahoemelanie brownnorth carolinaOrlandoTN MountainsWinter 2021YOY Performance

More in Business

One Size Doesn’t Fit All in Owner Acquisition

Heather BayerFebruary 23, 2021
Read More

Resort Collection Outsources Call Center to Jamaica

Zandra WolfgramFebruary 19, 2021
Read More

Bounce into 2021 with Tools to Help Heal and Focus

Ali CammellettiFebruary 18, 2021
Read More

12 Steps To Reclaiming Your Spirit of Hospitality From The Grasp Of Cynicism

Doug KennedyFebruary 18, 2021
Read More

Getaway Society Founders Are a Dynamic Duo

Zandra WolfgramFebruary 18, 2021
Read More

Fact or Fiction? Mythbusting Hot Vacation Rental Trends

Jason SprenkleFebruary 17, 2021
Read More
Scroll for more
Tap

Sponsor News

  • Kasa and Minut partner to protect properties all over the U.S.
    Sponsor NewsFebruary 11, 2021
  • The Pace Report Is Dead
    Sponsor NewsFebruary 10, 2021
  • How 2020 Played Out: Analyzing Performance in 10 Key Vacation Rental Destinations
    BusinessFebruary 10, 2021
  • Rented Launches New Automated Rate Tool for Vacation Rental Professionals
    Industry News for Vacation Rental ManagersJanuary 25, 2021
VRM Intel
Calendar of Events
Videos & Whitepapers
VRMintel Magazine
Subscribe
Advertise
About Us
Authors
Contact Us

Recent News

  • One Size Doesn’t Fit All in Owner Acquisition
    BusinessFebruary 23, 2021
  • Resort Collection Outsources Call Center to Jamaica
    BusinessFebruary 19, 2021
  • Bounce into 2021 with Tools to Help Heal and Focus
    BusinessFebruary 18, 2021
  • 12 Steps To Reclaiming Your Spirit of Hospitality From The Grasp Of Cynicism
    BusinessFebruary 18, 2021

View Current Issue

VRMintel Copyright © 2016-17 | Click HERE to Subscribe | Privacy Policy | Disclaimer | Copyright | Jobs | Facebook | Twitter | LinkedIn

Florida House and Senate ‘Vacation Rentals’ Bills Critical to Compliance Hit the Floor
The Pace Report Is Dead