MusicFest in Steamboat Springs, Colorado, is an annual music festival that has combined skiing and country music for more than 30 years. More vacation rental guests come from Texas than from any other state. For the week of MusicFest 2020, 25% of visitors are from Texas, beating runner-up Colorado by 7%. Despite making up 25% of guests checkins, their reservations contributed 20% of total vacation rental revenue for the week, about the same amount as the 19% of guests from Colorado. This is because the Average Daily Rate for Texans is lower ($430) compared to visitors from Colorado ($608).
For the entire year, Coloradoans compose about 40% of all guest arrivals but only 20-25% of all guests rent because their stays are generally shorter. This changes for MusicFest when they compose 20% of guest arrivals and about the same of total rent.
It’s important to track destination performance indicators like this throughout the year but especially around large events that can greatly impact an area’s economy, culture, and guest profile.