Performance Overview
Dear Trusted Real Estate Partners ,
We hope you all had a productive 2024 — and that you ’ re looking forward to a prosperous 2025 . We are excited to share some pertinent vacation rental data , along with our perspective on how the metrics apply to the Big Sky market . We ’ ll be reviewing 2024 , looking ahead to 2025 , and providing an overview of key trends , challenges , and performance metrics for the year .
Market Overview
The vacation rental market in Big Sky has shown resilience in 2024 , despite a national decline . The slowdown has been largely due to fluctuating economic factors , evolving consumer preferences , and relatively poor snowfall through much of the Winter season . However , the allure of outdoor recreation , luxury accommodations , along with signature events , ensured that Occupancy rates remained relatively high here in Big Sky throughout the year .
Occupancy Rates
The average Occupancy rate in Big Sky came in at 32.6 % for 2024 , down 3.8 % from 2023 . With peak demand occurring during ski season , this is not a surprise given the lack of snowfall we saw . Summer business continues to remain depressed relative to the peak levels of visitation we saw during the pandemic . Natural Retreats typically lags behind the market in Occupancy , as we have a greater percentage of large , custom homes in our portfolio than most vacation rental companies . These homes book well during the peak Summer and Winter dates ; however , they are less likely to book during softer Summer and Winter periods , or shoulder seasons . Why ? Our portfolio appeals to larger groups looking for vast luxury homes with unique amenities .
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NATURAL RETREATS • BIG SKY • 2024 ANNUAL REVIEW