Performance Overview
Dear Trusted Real Estate Partners ,
We hope you all had a productive 2024 ! We are excited to share our short-term vacation rental data , along with our perspective on how it applies to the Whitefish market . Today , we are sharing a review of 2024 as well as a look ahead to Q1 of 2025 . This review provides an overview of key trends , challenges , and performance metrics for the year .
Occupancy Rates
Natural Retreats 2024 Annual Occupancy was 33.5 % compared to the Whitefish Market at 34.6 %. However , the average Occupancy for Natural Retreats Whitefish was up 26.9 % YOY for 2024 vs 2023 . The annual YOY Occupancy change for the Whitefish Market was down 4.9 %. Additionally , Natural Retreats outperformed the Market in the key revenue-generating months of January , February , March , July , August , and December when Average Daily Rates ( ADR ) are seasonally higher . Please see below .
Average Daily Rate ( ADR )
ADR for Natural Retreats saw a decline from 2023 as we adjusted rates down to secure more bookings and avoid experiencing a drop in Occupancy similar to what the Market experienced last year . The annual ADR for Natural Retreats was $ 460 in 2024 compared to the Whitefish markets annual ADR of $ 288 . Natural Retreats uses dynamic pricing to ensure that we are charging premium rates when the demand is high , while maintaining competitive pricing in the market when demand is lower . Dynamic pricing also helps us react to the constant fluctuations in demand in real time .
NATURAL RETREATS • WHITEFISH • 2024 ANNUAL REVIEW
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