The economic effects of COVID-19 on vacation rental bookings are being felt across key leisure destinations as shelter-in-place orders, travel restrictions, and beach/ski closings continue across the US. As of April 7, according to market data provided by Key Data, year-over-year (YOY) adjusted occupancy declined as much as 79 pecent for April and 57 percent for May in Hawaii alone.
The table below demonstrates YOY booking pace activity for Hawaii, Oregon, California, Colorado, the Gulf Coast, and the SE Atlantic Beaches.
Each region is followed by an “as of” date (for example, “Hawaii: As of April 7”). This means the Adjusted Occupancy rate represents reservations on the books as of April 7, 2020, compared to reservations on the books as of April 7, 2019. Adjusted Occupancy measures paid occupancy (or nights available to rent) and excludes owner stays and maintenance holds.
The data sets compare booking pace for 2019 and 2020 as of March 5, March 13, March 23, and April 7.
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