Central West Florida
Tourists are drawn to Florida for the theme parks, watersports, sunshine, and more. Here’s a quick overview of the performance trends for vacation rentals in four different Florida regions:
- Occupancy - Due to the state’s mild winter, occupancy rates are more even year-round than in other U.S. Destinations. Out of the four regions analyzed, most had occupancy rates that were similar to 2018. The Panhandle was the exception, where adjusted paid occupancy was down by 5.5% versus last year.
- Average length of stay - In 2019, the average length of stay for vacation rentals was about the same as in 2018. Southwest Florida has the longest length of stay - snowbirds make up a larger percentage of their renters and are likely to stay longer.
- Average booking window - Renters made reservations closer to their stays on the Panhandle or in Orlando but further away from their stays in Southwest and Central West Florida.
- Average daily rate - The average daily rates increased slightly for Greater Orlando, the Panhandle, Central West Florida but decreased for Southwest Florida.
- Revenue per available room - The impact of these differences on individual property performance across the state varied greatly by submarket.
Over the next five weeks, we’ll be releasing similar reports for other destinations across the United States. We look forward to sharing our insights and hearing your feedback on your experiences.