As long-time rental property managers in Breckenridge, Colorado, we’ve learned that staying on top of market trends and understanding local dynamics is key to success. Whether you're setting rental rates, positioning your rental property, or preparing for the busy ski season, keeping up with the latest trends is essential in this business.
Still, with so many tools and data platforms specializing in short-term rentals, it can be overwhelming to sift through all the information. And let’s face it — much of what you find might not be relevant to the Breckenridge market.
With decades of experience managing vacation properties in Breckenridge, Ski Country Resorts has mastered the art of short-term rentals and we've become experts in understanding the key statistics that matter. In this blog, we’re sharing essential stats and trends specific to the Breckenridge market, along with valuable advice on how to leverage this knowledge to stand out in a competitive landscape.
Let's jump right in!
Filtering Out the Static
In the competitive market of ski town rentals, it’s crucial to filter out the noise and focus on what truly matters.
For instance, while some platforms, like Airbnb, are pushing for longer stays of 30 days or more, does that trend really apply to Breckenridge? Not exactly. In this area, most guests book shorter, high-impact stays during the peak ski season or summer months.
Similarly, Airbnb’s focus on promoting private room rentals might be effective in urban areas, but it’s less relevant in Breckenridge, where full-home and condo rentals are the norm. This highlights the importance of understanding which trends actually impact your local market.
So, what are the trends that really matter for Breckenridge?
Breckenridge Rental Market Trends: What You Need to Know
The vacation rental market in Breckenridge continues to be a strong contender in the short-term rental industry, although recent trends indicate some shifts that property owners should be aware of. Here's a detailed look at the key statistics and trends shaping this market:
Occupancy Rates and Seasonality
Breckenridge is known for its significant seasonality, with peak demand occurring during the winter ski season and summer months. The average occupancy rate for short-term rentals in Breckenridge currently stands at approximately 61%, reflecting a slight increase from the previous year, where the occupancy was around 58% during the holiday season. This slight uptick suggests that while demand remains robust, there is still room for improvement, particularly during the off-peak times.
Pricing and Revenue
Rental pricing in Breckenridge has seen some fluctuations. The average daily rate (ADR) for short-term rentals has decreased slightly, now standing at about $792, down from $826 the previous year. However, during the peak holiday season, the ADR can soar to $964, offering a lucrative opportunity for property owners who can capitalize on these high-demand periods.
In terms of overall earnings, short-term rentals in Breckenridge generate an average monthly revenue of around $54,377. This figure highlights the earning potential of properties in this area, especially for those that are well-maintained and strategically marketed.
Total Listings and Rental Demand
Breckenridge is a significant hub for short-term rentals within Summit County, accounting for about 45% of the market share. Currently, there are approximately 6,145 active short-term rental listings in Breckenridge, with the vast majority (96%) being entire homes. This dominance of entire home rentals aligns with the preferences of most visitors, who seek the privacy and comfort that these types of properties offer. Only a small percentage (4%) of listings are for private rooms, with no shared rooms available.
Booking Trends and Length of Stay
Recent booking trends indicate that guests are making reservations closer to their travel dates, with bookings now coming in about 5-8 days nearer to arrival compared to previous years. Additionally, the average length of stay for short-term rentals in Breckenridge is approximately 4.3 nights, a slight decrease from 4.4 nights the previous year. While this reduction may seem minimal, it can accumulate over time, potentially impacting overall rental income.
These trends suggest that rental owners and managers in Breckenridge need to stay agile, adjusting pricing, and marketing strategies to capture last-minute bookings and adapt to evolving patterns. The market remains competitive, and understanding these nuances is key to maintaining and growing your rental business in this sought-after destination.
Why Do People Choose Breckenridge Vacation Rentals?
Breckenridge offers a unique blend of adventure and relaxation, attracting travelers year-round for its stunning mountain views, world-class skiing, and charming town atmosphere. But what makes a Breckenridge vacation rental truly stand out?
The Appeal of Breckenridge
Travelers flock to Breckenridge for its perfect combination of outdoor activities and cozy, luxurious accommodations. Whether it's a ski-in/ski-out condo right on the slopes or a secluded mountain home with a hot tub, Breckenridge rentals offer something special that keeps visitors coming back year after year.
To make your rental stand out, it’s essential to provide more than just a place to stay. Guests are looking for unique experiences, and creating a memorable atmosphere can set your property apart from the competition.
Crafting the Perfect Mountain Experience
Just as beach rentals benefit from coastal charm, Breckenridge properties can capitalize on the mountain vibe. Here’s how to create an unforgettable experience for your guests:
Mountain-Modern Decor
While the rugged beauty of the Rockies is a natural draw, the interior decor of your rental plays a significant role in attracting guests. Visitors often seek a balance between cozy mountain aesthetics and modern amenities. Consider updating any outdated or overly rustic decor to create a fresh, contemporary style that still reflects the relaxed mountain lifestyle.
Most guests are looking for something extraordinary, so a well-designed, comfortable property with all the modern conveniences will likely perform well. Properties that blend mountain charm with sleek, modern decor, fully-equipped kitchens, spa-like bathrooms, and enjoyable extras like fireplaces or hot tubs tend to be particularly appealing.
Maximizing Your Outdoor Spaces
Outdoor spaces are a huge selling point for ski rentals, so take full advantage of any exterior areas, whether it’s a deck, patio, or rooftop. Well-designed outdoor spaces can be a major draw, especially in a mountain setting where guests want to spend as much time as possible enjoying the fresh air and scenic views.
Whether you have a simple deck or a more elaborate outdoor area with a fire pit or hot tub, ensure that your outdoor spaces are inviting, comfortable, and well-maintained. These features can turn a standard property into a standout rental.
Beyond Decor: Offering Impressive Amenities
While decor helps your property stand out, amenities are what make a stay memorable. Investing in top-notch amenities can secure more bookings and increase revenue. Larger properties, in particular, should offer a range of amenities to appeal to diverse groups of travelers.
Tailoring Amenities to Your Property
For one-bedroom rentals, consider adding a private hot tub or a cozy fireplace as a luxurious touch. Two or three-bedroom properties might benefit from entertainment features like a pool table or a media room, while larger homes could truly impress guests with a dedicated ski storage room or a sauna. Remember, the more you can offer, the more appealing your property becomes.
Creating Instagrammable Moments
In today’s social media-driven world, creating Instagrammable moments within your property can be a game-changer. Whether it’s a breathtaking view from the balcony, a cozy reading nook by the fire, or a beautifully designed outdoor space, these photo-worthy spots can attract more guests and encourage them to share their experiences online, further boosting your property’s visibility.
Enhancing Guest Experience with Technology
High-tech amenities can significantly enhance the guest experience. Smart TVs, high-speed Wi-Fi, and streaming devices like Roku are now expected, as they allow guests to log into their own accounts and stay connected. If you’re targeting eco-conscious travelers, consider installing EV chargers. Additionally, implementing contactless check-in with smart locks and offering digital guidebooks about your rental and the area are becoming industry standards and can make a big difference in guest satisfaction.
Looking Ahead: How to Stay Competitive
Adapting to local trends, offering unique experiences, and providing excellent service are key to standing out in Breckenridge’s competitive rental market. The vacation rental industry is constantly evolving, and staying ahead of the curve is crucial.
By understanding the trends that matter, enhancing your property’s appeal, and offering unforgettable guest experiences, you can ensure your rental stands out in the competitive Breckenridge market. Whether you’re a seasoned property owner or new to the vacation rental game, Breckenridge offers immense potential. With the right approach, you can turn your property into a sought-after destination that guests will love returning to year after year.
How to Stand Out from the Competition with Your Breckenridge Rental
As the online rental market gets more crowded, your property needs to break through the noise to attract guests and outperform the competition.
At Ski Country Resorts, we believe property management is about more than just business. We envision a world where homeowners aren’t weighed down by hidden fees, contract loopholes, or ulterior motives.
We’re committed to treating your property as if it were our own, ensuring top-notch care. With our strategic marketing plans, 24/7 guest support, and dedicated maintenance team, you can relax and enjoy the benefits of owning a vacation rental while earning more.
Looking for more tips on managing your Breckenridge vacation rental? Check out our blog for the latest advice on improving your operations, attracting more guests, and boosting your revenue.
