President’s Day and Valentine’s Day fall on the same weekend this year, which may have helped further strengthen a historically strong weekend for North Lake Tahoe’s vacation rental market.
For February 12th through the 19th, the adjusted paid occupancy rate (which accounts for owner stays and holds) is 63% - a 13% occupancy increase from the same dates last year. However, the average daily rate has decreased from $522 last year to $407 this year. When adjusted for owner stays and holds, RevPAR is $258 for the week, nearly the same as last year’s $260.
Guest reservation activity is similar to last year. So far, the booking window is 71 days, a three-day increase compared to the same week last year. The San Francisco Bay area continues to be the largest feeder market for North Lake Tahoe, making up 80% of guests for the week. Most check-ins will occur on Friday night and the average length of stay is four days.
Like many ski markets, North Lake Tahoe vacation rentals often receive last-minute reservations based on snowfall so the area’s occupancy rate will likely rise by an additional 5-10% in the coming week.