After Rebound, Vacation Rental Bookings Slow Again

July 23, 2020

Booking activity continues to be an important indicator of traveler confidence and vacation rental recovery. The year over year change in guest reservations decreased due to shutdowns, skyrocketed as markets reopened, and is now beginning to decline once again. Three states show the variability in timing and magnitude by region: Colorado, Florida, and Hawaii.

Florida bookings held on longer as the pandemic escalated and recovered faster because the state and local governments were slower to shutdown and faster to reopen. Booking rates fell behind last year towards the end of June due to high occupancy rates (unable to make new reservations), increasing COVID cases, and the full release of pent-up demand.

Colorado bookings slowed in early February and did not recover until mid-May. After a month of higher-than-last-year activity, reservations have since returned to the same rate as this time last year.

Hawaii bookings declined earlier than Florida and Colorado and remain at less than 25% of last year’s rate. Hawaii rentals have suffered due to strict restrictions and large declines in air travel.

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